Fashion Entrepreneurship : Retail Business Planning,9781563672330

Fashion Entrepreneurship : Retail Business Planning

by
Edition: CD
ISBN13: 9781563672330
ISBN10: 1563672332
Format: Paperback
Pub. Date: 2002-10-01
Publisher(s): Bloomsbury USA Academic
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Summary

This text provides a background in entrepreneurship for apparel, accessories, textiles and home furnishings business development. In addition, the text delivers the information needed to develop a comprehensive, effective business plan. The chapters include information on merchandising, operating procedures, human resource development and financing. Further examined is the development of a fashion retail business from concept articulation to exit strategies. Included is a discussion of brick-and-mortar businesses, click companies and service firms in the apparel and soft good sectors. The last chapter of the text presents a sample business plan.

Table of Contents

Taking the Road to Entrepreneurship
1(29)
Introduction
1(1)
Understanding Entrepreneurship: The Age of the Entrepreneur
1(2)
Fashion Trends Lead to Entrepreneurial Opportunities
3(1)
The Entrepreneurial Profile
3(1)
Do You Have What It Takes?
4(7)
Traits of Successful Entrepreneurs
5(3)
Less Successful Traits of Entrepreneurs
8(1)
Assessing Yourself: Traits and Skills
8(2)
Assessing Your Business Skills
10(1)
Timing and Funding Availability
11(1)
Common Myths About Entrepreneurs
12(1)
Why Some Businesses Fail While Others Succeed
12(2)
Development of the Business Concept: What Will the Company Be?
14(6)
Researching the Concept
16(2)
SWOT and MECA Analyses
18(1)
Writing the Concept Statement
19(1)
Why Business Planning Is Important
20(1)
Conclusion
21(8)
Analyzing the Product
29(24)
Introduction
29(1)
Defining the Product
29(2)
Dissecting the Product
31(1)
The Product Life Cycle
32(3)
Introductory Stage
32(1)
Growth Stage
33(1)
Maturity
33(1)
Decline Stage
33(1)
Practice Application
34(1)
New Uses or Images for Old Products
35(1)
At Your Service
35(6)
When the Product Is a Service
35(5)
When the Product Is Tangible
40(1)
Branding
41(6)
Intellectual Property: Brand Names, Trademarks, and Copyrights
42(1)
Brand Sponsorship
43(2)
Brand Value
45(1)
Licensing and Royalties
45(2)
Conclusion
47(6)
Researching the Industry and the Market
53(20)
Introduction
53(1)
Market Research Defined
53(2)
Defining the Industry
55(2)
Describing the Industry
57(7)
Economic Sectors of the Industry
57(2)
Industry Life Cycle
59(1)
Economic Conditions and Cycles
59(1)
Seasonality and the Fashion Industry
59(2)
Impact of Technology
61(1)
Supply and Distribution Channels
61(1)
Financial Patterns
62(1)
Competition
62(1)
The Consumer
63(1)
Regional Market Feasibility Study
64(3)
The Regional Consumer
65(1)
The Regional Location
66(1)
The Regional Competition
67(1)
Conclusion
67(6)
Strategic Planning From Entry to Exit
73(20)
Introduction
73(1)
Entry Strategies
73(7)
Opening a New Business
74(1)
Purchasing a Franchise Operation
74(4)
Acquiring an Existing Business
78(2)
Exit Strategies
80(9)
Management Succession
82(1)
Selling the Business to Outsiders
82(1)
Selling the Business to Insiders
83(1)
Liquidating the Business
83(1)
The Process of Valuation
84(1)
What Is the Business Worth?---Valuation Methods
85(2)
Offering Memorandum
87(1)
Looking for Buyers
88(1)
Structuring the Sale
88(1)
Negotiating the Sale
88(1)
Conclusion
89(4)
Finding a Location for the Business
93(26)
Introduction
93(1)
The Location Hierarchy: Region to State to City to Site
94(3)
The Region
94(1)
The State
95(1)
The City
95(2)
The Site
97(1)
Location Factors
97(3)
National Retail Traffic Index
98(1)
Location Checklist
98(2)
Finances and Location
100(3)
Estimating Location Costs
100(3)
Monthly Expenses Related to Location
103(1)
Build, Buy, or Lease?
103(3)
Building a Facility
103(1)
Buying a Facility
104(1)
Leasing a Facility
104(2)
Location and the Business Plan
106(1)
Designing Effective Selling Space
107(7)
The Exterior
107(1)
The Interior
108(6)
Conclusion
114(5)
Becoming an E-Trepreneur
119(30)
Jana Hawley
Introduction
119(1)
History and Future Projections
119(2)
Web Demographics
121(2)
Benefits and Limitations of Going On-line
123(1)
Building a Business Plan for E-Commerce
123(4)
E-Models
127(8)
Storefront Model
127(1)
E-Catalog Model
128(1)
Portal Model
128(1)
Distributed Storefront Model
128(2)
Affiliate Model
130(1)
Auction Model
130(2)
On-line Shopping Malls Model
132(1)
Content-Attraction Model
133(1)
Lowest-Price Model
133(1)
Click-and-Mortar Model
134(1)
Members-Only Model
135(1)
Customer Relationship Management
135(2)
Security and Privacy
137(1)
Promotion and Marketing
138(5)
Brand Recognition
138(1)
The Domain Name
139(1)
Search Engines
140(1)
Hyperlinks
141(1)
Print Web Address on All Communication Materials
141(1)
Publicity and Promotional Efforts
141(2)
E-Commerce Challenges and Concerns
143(1)
Conclusion
143(6)
A Strategy for Penetrating the Market
149(24)
Introduction
149(1)
The Role of the Marketing Strategy
149(1)
Market Variables: The Ps of Marketing
150(19)
Product
151(1)
Place
151(1)
Price
152(5)
Promotion
157(9)
People: Exceptional Customer Service
166(3)
Conclusion
169(4)
Exploring Management
173(26)
Introduction
173(1)
The Management Team
173(10)
Building an Organizational Culture
175(1)
Leadership
175(3)
Open-Book Management
178(3)
Effective Communication
181(1)
Technology and Communication
182(1)
Intrapreneurship
183(1)
Organizational Structure
183(5)
Determining Key Roles and Tasks
184(2)
Creating Job Descriptions
186(1)
Creating the Organizational Chart
187(1)
Hiring the Right Employees
188(2)
Sources for Recruiting Employees
188(1)
The Job Interview
189(1)
Selecting the Advisory Team
190(1)
Motivating Employees
191(2)
The Compensation Package
193(1)
Conclusion
194(5)
Merchandise Planning
199(30)
Introduction
199(1)
The Role of the Buyer
199(1)
The Resident Buying Office
200(1)
The Buying and Merchandising Process
201(20)
Sources for Effective Buying
201(2)
Market Week
203(1)
Resource Selection
204(5)
Managing Fashion Merchandise
209(4)
Sales Forecasting Factors
213(1)
Planning the Merchandise Assortment
213(3)
Preparing the Open to Buy
216(1)
The Markdown Policy
217(1)
Markup
218(2)
Pricing Strategies for Fashion Merchandise
220(1)
Visual Merchandising and the Buyer
221(1)
Sales Promotion and the Buyer
221(1)
Sales Supporting Services and the Buyer
221(1)
The Buyer's Responsibility for Profits
221(1)
Stockturn
222(1)
Stock-to-Sales Ratio
222(1)
Buying for Nonstore Retail Operations
222(2)
Conclusion
224(5)
Selecting a Business Entity
229(20)
Introduction
229(1)
Considerations in Choosing a Legal Entity
229(1)
The Sole Proprietorship
230(2)
Advantages of a Sole Proprietorship
230(1)
Disadvantages of a Sole Proprietorship
231(1)
The Partnership
232(4)
Advantages of a Partnership
234(1)
Disadvantages of a Partnership
235(1)
Limited Partnerships
236(1)
The Corporation
236(5)
Forming a Corporation
237(1)
Operating a Corporation
238(1)
Different Roles: Shareholders, Directors, and Officers
239(1)
Issuing Stock
239(1)
Annual and Other Regular Meetings
240(1)
Reporting Requirements
240(1)
Advantages of a Corporation
240(1)
Disadvantages of a Corporation
241(1)
Alternative Forms of Ownership
241(2)
The Limited Liability Corporation
242(1)
The S-Corporation
242(1)
Selecting a Lawyer
243(1)
Selecting an Accountant
243(1)
Conclusion
243(6)
Creating and Understanding the Financial Plan
249(36)
Introduction
249(1)
The Importance of the Financial Picture
249(1)
The Financial Statements
250(17)
The Cash Flow Statement
251(8)
The Income Statement
259(3)
The Balance Sheet
262(4)
Liabilities and Owner's Equity
266(1)
The Assumptions
266(1)
Analyzing the Financials
267(7)
Understanding Key Financial Ratios
268(4)
The Break-Even Point
272(2)
Understanding Cash Flow
274(1)
Accessing Capital
274(6)
Debt Financing
275(3)
The Mind-set of the Banker
278(1)
Equity Financing
279(1)
Conclusion
280(5)
Developing Operating and Control Systems
285(24)
Introduction
285(1)
Operations and the Facility
285(3)
Space Allocation
286(1)
Staff Efficiency
286(1)
Customer Mobility
286(1)
Hours of Operation
287(1)
Lease and Improvements
287(1)
Utilities and Maintenance
287(1)
Security
287(1)
Operations and the Merchandise
288(3)
Receiving Goods
288(1)
Marking Goods
288(1)
Placing Merchandise on the Sales Floor
288(2)
Paying the Suppliers
290(1)
Tracking Merchandise
290(1)
Taking Markdowns
290(1)
Returning Goods to the Vendor
291(1)
Operations and the Employees
291(3)
Training Employees
291(1)
Compensation and Incentives
292(2)
Reprimands and Terminations
294(1)
Communication with Employees
294(1)
Operations and the Customer
294(4)
Approaching and Assisting the Customer
294(1)
Writing Up the Sale---Transaction Flow
295(1)
Handling Returns
296(1)
Following Up on Sales
296(1)
Handling Customer Complaints
296(2)
Inventory and Operations
298(2)
Methods of Inventory Management
298(1)
Inventory Control
298(1)
Merchandise Fulfillment and Customer Needs
299(1)
Research and Development
300(1)
Operations and the Computer
300(1)
Conclusion
301(8)
Planning Growth Strategies
309(16)
Introduction
309(1)
Strategic Growth Planning
309(3)
Strategies for Facing New Competition
310(1)
Strategies for Becoming a Market Leader
310(1)
Strategies for Creating a Market Niche
311(1)
Going Global as a Growth Strategy
312(5)
Avenues to Global Growth
313(3)
Entry Strategies to Global Avenues
316(1)
Opening the Doors to Global Growth
316(1)
Planning for Growth
317(2)
New Offerings to the Market
318(1)
Steps to Planning the Growth Stage
319(1)
Conclusion
319(6)
Constructing the Business Plan--Creating the Roadmap
325(16)
Introduction
325(1)
The Reasons for Developing a Business Plan
325(2)
Definition of a Business Plan
327(1)
Analysis of the Business Plan
327(1)
How the Plan Takes Shape---Components of the Business Plan
328(10)
Cover Letter
328(1)
Cover Page
329(1)
Table of Contents
329(1)
Executive Summary
329(1)
Product/Service Plan
330(1)
Management and Organization Plan
331(2)
Marketing Plan
333(2)
Location
335(1)
Merchandising Plan
336(1)
Financial Plan
336(1)
Operating and Control Systems
336(2)
Growth Plan
338(1)
Appendix
338(1)
Tips for Writing a Good Business Plan
338(1)
Packaging the Business Plan
339(1)
Conclusion
339(2)
Sample Business Plan 341(32)
Appendix A: Resources for the Fashion Retail Entrepreneur 373(2)
Glossary of Terms 375(13)
Index 388(6)
CD-ROM Instructions 394

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