Forever Young will start off with one facility and expand along with profits. Once there is enough income collected to open another store the marketing strategy will focus on the first store. The store will be located _______.
The first store will provide minimal wage in accordance with the state of New York, which is $9 per hour as of December 31, 2015 (New York State Department of Labor, 2015). As Forever Young’s profits expand there will be a manager of the store, and marketing advisor. Until then the owner will manage most of the social media and the subordinates.
The store will have one fulltime manager, who will also be a lead salesperson. Hours of operation will be Monday through Sunday from 8:00 a.m. to 8:00 p.m. The employees will not have a uniform, but will have to wear appropriate store attire. The employees will have a good background, are well educated with high school diplomas or higher.
There are two things that contribute to capacity employees and storage space. If there is a popular trendy item in the store Forever Young needs to have enough storage space to please the customer’s needs. Forever Young can increase capacity ten percent market share without additional staff. Until then there will be no need for an addition hire.
There will be a 30-day grace period to return products as long as the tag is on, and there is a receipt. If there is any damage to the item then the item cannot be returned. The items on sale are final sale and there will be no return policy for those products. Lingerie items can only be returned within in a week with a tag and receipt.
The décor will create the desired atmosphere ...
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• Reinforce for quality, excellent customer service, and greatest value by advertising
• Become a steady provider for trendy women’s clothes
• Command more market share
Forever Young will be a small family owned business with hired, professional management. The owner intends to drive up sales, establish a solid reputation, and differentiate products from the competition. These actions will establish a sustainable competitive advantage for years to come. In the future, the owner would like to transfer ownership to their children. If this is not a possibility then there will be a market leader with clear quantifiable advantages over the competition, and then there is the option of selling. The purchase price will include inventory, equipment, and displays. Another option is to liquidate assets, creditors paid off, and operations will cease to exist.
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