Business Plan Strategy and Implementation

1988 WordsAug 8, 20128 Pages
Strategy and implementation: Strengths: * Our location. We will be in a heavily populated area with large amounts of foot traffic which will allow us to accumulate more customers from walk-ins than most consignment shops in the area. * Between Shermineh and me we have a huge sphere of influence from people we know in the Albuquerque vicinity so initial marketing efforts and word of mouth between our friends will create vast clientele. * Susie and I have quite extensive experience in the sales field and Shermineh has a vast knowledge of items and pricing, we will be able to help vendors price and sell their item more efficiently than some of the other consignment stores in the Albuquerque area. Weaknesses: * We are starting with just our own inventory. We do not have vast amounts of stock to keep putting into our store initially so the cash flow will be slightly slow to start out with. * Initial vendors will be wary of renting a booth because there will not be many contracted booths. This will not be a problem over time but with the initial startup it is a definite weakness to the company. * Our initial capital does not allow us to have a very extensive and pricy marketing strategy, on or offline. We will have to lean on our initial efforts to get the word out for a while until we start generating income. Threats: * Un able to contract vendors to start good cash flow * Competition in the area * The area is a fun hip area and we will need products and inventory that is hip and trendy along with fun exciting inventory to appease the market. This may not happen from the vendors that want to sell in our shop. Opportunity: - close local businesses allow us to have contact with close local owner and try to set up a marketing schema between us and them, gives us the opportunity to get our name out there. - We have an

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