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Sports Clothing Retail Shop Business Plan Leave a comment
Male Gear Wear, also known as Gear Wear, is an Oregon-based retailer that sells men’s aerobic sport equipment. Gear Wear has the largest selection of products in town, and it is also available via the Internet/mail.
Gear Wear will quickly grow its market share by providing the best selection and a knowledgeable support team.
Ashland was chosen because of its diverse, active culture. People are not afraid to give up their jobs in order to improve their quality of life. Ashland is known for its active lifestyle. Gear Wear is an Oregon-based L.L.C. Stan Gearboy is the main owner.
Keys to Success
Gear Wear has identified three keys to success that they believe will be instrumental in reaching sustainable profitable. The first key to success is the need for customers to be satisfied with the products and services they receive. This requires a wide selection of staff who are knowledgeable. To be successful, you must monitor the competition to ensure differentiation. This last point is about the accounting systems within the company. Gear Wear understands the importance and necessity of strict financial controls.
Competitive Edge
Gear Wear’s competitive edge is its unparalleled selection and staff knowledge. Gear Wear offers a unique multi-sports selection that no other retailer can match. Aerobic sports are a regular part of the lives of many of these athletes. It is a part of their life, an activity that they enjoy and look forward to. While the activities may be somewhat painful when you are doing them, depending of course on the intensity that you reach, overall it is quite enjoyable. This is also why they participate in so many. Some sports are seasonal while others can’t be stopped.
Management
Stan Gearboy, a veteran in the outdoor industry, will be leading Gear Wear. Stan was active as a member of two sport teams during his undergraduate years. Stan’s first exposure to the sport of challenging aerobic activities was this.
Stan finished his degree and worked for R.E.I., an outdoor retailer with a great reputation (both brick and mortar as well as by mail order). Stan worked for R.E.I. for many years. He learned from the best. Stan enjoyed working in the retail industry. But he realized that if his goal was to open a retail shop, he would need to increase his skill set. Stan pursued his Masters with the ambition of opening his store in the outdoor sector. Stan is the perfect person to take Gear Wear to great heights.
Gear Wear expects to see explosive sales in the second half of this year and an even greater increase in the third. The net profit margin will be low in year two and increase modestly in year three. Gear Wear is able to sustain the first few year with sufficient cash.
1.1 Objectives
- Be the top men’s retailer of aerobic sports clothing in Ashland
- By year three, increase market penetration to 10%
- Within the second year, reach profitability
1.2 Mission
Gear Wear’s goal to be Ashland’ the best men’s sport clothing retailer is to achieve this mission. This will be accomplished by offering fair prices, the best selection, and a knowledgeable staff to assist customers in any way. Gear Wear will do everything possible to meet all their customers’ expectations.
Success Keys 1.3
- Meet the customer’s needs by offering a comprehensive selection and knowledgeable staff.
- To ensure differentiation, monitor the competitive environment.
- Employ strict financial controls.
