Steps to Writing a Business Plan for a Clothing Boutique

Charmayne Smith reports:

"Summarize your boutique’s business plan in less than two pages. Use this formal summary as the plan’s executive summary and place it at the front of the plan. Write the executive summary to entice the reader to read the business plan for more details. If you are seeking financing with the business plan, include the amount that you are seeking within this summary. Explain briefly how the funds will be utilized and how soon the funds will be repaid...Introduce your clothing boutique with a general business description. List your boutique’s legal business description...along with the boutique’s list of owners, their contact information and the boutique’s contact information...Provide a list of your clothing boutique’s products. Detail your products’ unique qualities and explain why the products benefit your customers. Explain where you will obtain your boutique’s clothing and include the costs of your vendors and suppliers...Explain your boutique’s target market, or the customers that you intend to capture. Describe the customer demographic and their location to the boutique. Describe how you will advertise your business, list your payment options and credit policies, and explain how you will maintain those customers on a long-term basis. Introduce your clothing boutique’s competitors. Categorize the competitors into direct and indirect competitors, with direct competitors being other local boutiques in your area and indirect being department stores and big box locations. Explain your boutique’s strengths and weaknesses as compared to the competition and illustrate the strategies your boutique will use to achieve and maintain a competitive edge. Identify your clothing boutique’s location. If you do not have an identified location, describe the amount of space your business will require. Ensure that your selected location has plenty of room for parking and is inviting...Describe the details of your clothing boutique’s operations. Identify your boutique’s required equipment, such as shelving, open closets and changing room equipment. List the boutique’s hours of operations and include information on holiday hours. Expound on the location’s expenses, including licensing requirements, taxes, zoning requirements, utilities, leasing expenses and required location renovations. Explain your boutique’s staffing needs. Provide clear details on each position’s functions and responsibilities. Include costs for each position, including salary, benefits and any necessary training expenses for those employees. Create an organizational chart to include in the business plan if your boutique employs many people...Create your clothing boutique’s financial statements. Include a personal financial statement, balance sheet, cash flow analysis and income statement. Provide reasonable assumptions and projections about future sales, if your business has yet to open its doors...Create an appendix at the end of your boutique’s business plan. Include any documentation that supports the information within the business plan, such as clothing contracts, leasing agreements, tax returns and any other documentation that relates directly to the boutique’s operations or financing."