Retail Business Plan

Retail profits can be as high as 65-85 percent on clothing and accessory pieces.

Retail profits can be as high as 65-85 percent on clothing and accessory pieces.The sales and profit margins in a specialty clothing and accessory store are higher than the average retail store. The urban clothing market is the most exciting, fastest growing market for consumers.

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It will be located at 423 West Oaks Boulevard, near downtown Hartford, Connecticut.

This store will also have a local market and will serve both youth and adults.

A positive cash flow will be produced at the end of the first year.

There are no other urban wear stores located within 20 miles of the location selected for this store.

Customers will save money from having to buy a complete outfit by just purchasing pieces.

They will also enjoy shopping in stores that are well inventoried and serviced-minded, such as Boston Rags.Joanne Arbor is employed full-time by Central Connecticut State University, which is also adequate support without drawing from the business.Joanne has managerial experience and basic knowledge of accounting. Boston Rags's main objectives are to: Boston Rags Clothing Store is a retail clothing store specializing in unique clothing and accessories.Boston Rags will set the pace for urban fashion for all seasons.Last year's outfit will be accessorized to be this year's outfit.Boston Rags is designed to help customers change their look without buying an entirely new wardrobe.We will cater to the person wanting to build a new wardrobe by purchasing clothing and accessory pieces to add to clothing they already have.Nancy Seymour will hold 50 percent ownership and Joanne Arbor will also hold 50 percent ownership.It will be set up as a partnership at start-up and then phase into a Limited Liability Corporation by the second year. We will not be offering benefits for the first couple of years. The inventory will be purchased through several vendors that include: BRG Sportswear, Inc., White Sail, USA 66, Wonder, Inc., ABX, and Mark Zap Clothing, Inc.Hartford is in an urban city of approximately 104,000 people which is also a part of Hartford County area containing approximately 408,000 people.Nancy Seymour receives a Veteran's pension (from her late husband) which is adequate for support without drawing from the business.