1. Your business and objectives
will be setting up a kids wear clothing company.
These designs will be unique and playful. They will have a fashion forward feel and appeal to parents of children who appreciate unique design and are looking for a fresh new label.
I will produce my prints in small quantity’s and release only small collections
Objectives
- Market research
- Deign collection
- Design print
Medium term (next 1 – 2 years):
- Build profile
Long term (3 years and beyond):
- Make profit
- Be sold in-store
2. Your skills and experience
| Outline any previous experience, employment or other work that you have done that is relevant to your business: |
| I have 12 years retail experience. The majority of those year were spent in management roles. I believe my knowledge of the fashion retail business will assist me in making quick commercial designs maximising the profit potential within my business |
| Outline any education or training you have had that is relevant to your business: |
I am currently completing a higher diploma in fashion and textiles and it is my intention to follow this diploma with a degree level qualification. |
| Outline any transferable skills, talents or traits you have that are relevant to your business: |
| I am an organised and reliable person. These traits have allowed me to thrive in a team in environment and also succeed when tasked to working on my own deadlines. The needs of the business will always come first so I set my goals with this in mind. I spent 10 years working as a visual merchandiser for a major retailer through this I’ve learned about launching campaigns controlling stock level stock rotation competitive pricing. I am well trained in guiding the customer through the store using a mix of engaging window displays, colour stories and price points for a great mix of fashion and commercial sales. |
| Briefly outline any gaps in your skills, experience or qualifications and explain how you will address these: |
| I am currently addressing the lack of qualifications on my cv, and intend of aiming higher with these qualifications. |
3. Your target customers | ||||
Demographic details: Delete any answers not applicable to you and provide some description as relevant. | ||||
| Age: | Gender: | Income: | Types: | Target regions: |
| 0 – 5 yrs 6 – 12yrs | All genders | £0 – £25,000 £26,000 – £99,000 £100,000 + | Individuals Businesses Families Other | Local? County? National? International? |
| How many potential customers do you estimate are in your target regions for this financial year? | ||||
| 100 | ||||
| Briefly describe your target customers and any other distinguishing features, expanding on any of the areas you have already highlighted above: | ||||
| My target customers are kids, more specifically the parents of kids | ||||
| What customer need or problem does your product(s) and/or service(s) address? | ||||
| My product addresses the the need for Irish made Children that is quirky and unique with handmade and digitally produced prints that will be treasured by each owner. | ||||
| Explain your approach to pricing your product(s) and/or service(s): | ||||
| My price points will be high to compensate for the time and craftsmanship that will go into each piece. |
4. Your market and competition | |
| What research have you conducted to understand your market, including your industry, regions, customers, competitors? Delete any answers not applicable to you and provide some description as relevant. | |
Interviews Desk or online research Market testing Trade fairs or exhibitions Met with suppliers Personal experience Social media research Mystery shopping competitors Family and friends Other | |
Competitor 1: | |
| Name, location, website: | Average prices: |
Jacadi Paris .com Store:Grafton street | €70 |
| Strengths: | Weaknesses: |
| Big brand Trusted name Online and in-store presence | Neutral colour palette Dated style Lack of originallity |
Competitor 2: | |
| Name, location, website: | Average prices: |
Farmyard the label.com Sold in-store at Kid Powercourt shopping center dublin | €40 |
| Strengths: | Weaknesses: |
| Organic material Feels fresh and appeals to a younger demographic of parents Well designed Value for money | Neutral colour palette works well for one or two seasons but does it have longevity or the power to create the impulse sales needed to drive selling longterm. Would a kid ask to but this? (Pesterpower) |
Your business: | |
| What sets your business apart from your competitors? | |
| My designs will feel fresh and new. They will invoke a spirit of freedom and creativity that I believe is missing from the the children market place | |
| Your strengths: | Your weaknesses: |
| Creativity Work ethic Drive Fresh ideas Commercial backround | Financial and time constraints. |
| Current or future opportunities: | Current or future threats: |
| Sold in store and online Social media presence. | No financially backing Failure to identify the right market quickly |
5. Your sales and marketing plans |
| How do you or will you promote your business? Delete any answers not applicable to you and provide some description as relevant. |
| Website (information only) Website (for e-commerce) Advertising (online) Search engine marketing Social media Retail outlets Referrals Events and exhibitions PR Other |
| Pick three of your key promotional activities and describe how they currently (or will in the future) help you meet your business objectives: |
Social media . When I have identity three designs which I want to launch, I will begin promoting them online. |
Trade-fairs. I will use trade fairs to launch my product and increase the knowledge of my brand. |
3. Markets . I will trade online and in markets to increase the knowledge of my brand. |
6. Your operational plans | |||
| Please provide details of two key suppliers or key relationships that are or will be important to running your business: Detail as relevant in the boxes provided below. | |||
Supplier / Relationship 1: | |||
| Organisation: | Relationship status: Delete any answers not applicable to you. | ||
| Fabric. Spoonflower | No contract/commitment | ||
| Service provided: | Key terms of the relationship: | ||
Digital prints of my fabric | |||
Supplier / Relationship 2: | |||
| Organisation: | Relationship status: Delete any answers not applicable to you. | ||
| No contract/commitment Contact under negotiation Project-based arrangement Contract or retainer in place Other | |||
| Service provided: | Key terms of the relationship: | ||
Other operational considerations: | |||
| Do you currently employ staff? Delete any answers not applicable to you and provide some description as relevant. | |||
| Yes (proceed to question A below) Not yet but I have plans to take on staff in the next 12-months (proceed to question B) No and I have no plans to take on staff in the next 12-months (proceed to next section) | |||
| How many staff do you currently employ? | |||
| Full time: | Part time: | ||
| Outline the key staff roles within your business (e.g. job title, responsibilities, key skills): | |||
| How many staff do you intend to take on in the next 12-months? | |||
| Full time: | 0 | Part time: | 0 |
| Describe the key responsibilities and skills you anticipate giving to these new staff: | |||
| Where does or will your business operate from? Delete any answers not applicable to you and provide some description as relevant. | |||
| Home business | |||
| What laws or regulations have you considered for your business and/or industry? | |||
| What insurance do you currently have in place or do you intend to put in place for your business? | |||
Home and content insurance. |
7. Supporting evidence |
| You can either copy and paste any supporting evidence in this section, or create a bullet point list of your supporting items and send them in with your application separately. Any supporting evidence you provide should support and strengthen the claims you have made and help our loan assessment team feel more confident about lending to you. Please note, this is not a mandatory field but your Business Adviser may request additional supporting evidence once they have reviewed your full application. |
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The beginning 