we can succeed in having women as our target market because of the size and diversity of the city we plan to open stores in. We did some research for the population in New York City, where our headquarters is located, through U.S. Census Government. (U.S. Census Bureau, 2014) We found that in 2013, the total population in New York City was 1,626,159 with 52.8% being women. This indicates that more than half of the population is women. This shows that there is a huge market for us to sell our products. Among this huge population, there are 85.5% of people, who are above 25 years old and already had high school education or higher (2008-2012). This takes up the majority population in New York City. People who finished their bachelor’s degree or higher are taking up to 58.1% (also above 25 years old), which is above half as well. Because of the large percentage of women, we believe that we will have a strong power and opportunity to gain plenty of women who are entering the workforce as potential customers. (U.S. Census Bureau, 2014) Market Segmentation Geographic Segmentation: Our headquarters for our business is located in New York City, where the biggest and most diverse demographic population is located. In the future, we may plan to expand our business throughout the United States, focusing mainly in big cities, because these places have a diverse demographic and a variety of markets. For example, handling our brand to other business owners and locating l ocating in Chicago, which will represent Central America, a couple more located in Florida, Los Angeles, and other east coast cities. We would also like to expand to France and Italy in the future, which are considered to be couple of the most fashionable countries in the world. Demographic Segmentation: Our segmentation is focused on the women who are 18 to 30 years old. Generally these women have a high school level of education, and are ready for their college professional studies, and women who are ready for seeking an internship or fulltime job in college. This also includes women who have already started their careers or are currently in the workforce. Psychographic Segmentation: Most women would like to spend their leisure time with their friends shopping, trying new things, and dressing up. Our store has equipped professional educated employees to help these groups of women to make the best decisions and lead them to purchase the right selections. This means employees must depend on the information that customers share in order to give them professional advice and suggestions to best satisfy the customers’ demands. Environmental Environmental Audit 63.8% of all persons 16 years and older are in the labor force. 59% of women 16 years and older are in the labor force.
4
The average time all people travel to work in New York is 32 minutes. This shows that our customer base could be traveling in daily to work in New York which means they could be spending more time shopping and doing activities in their local work area. Out of 8,877,453 people, it is safe to say about half of those could be women traveling to work. This bumps up our expected customers roughly 4,400,000 women who travel into New York on a regular basis (versus women who reside in New York). 32 minutes in any direction of New York is potentially our market range for our store. (U.S. Census Bureau, 2014) In New York, 82.9% of employed persons work in management, business, science, arts, service, sales, and office occupations. The portion of this percentage would be roughly 4,800,000 women over 16 who would potentially need to buy our professional clothing. (U.S. Census Bureau, 2014) Women are beginning to enter the workforce in larger numbers. They are trying to break the glass ceiling by receiving higher paying occupations. With the interests in fashion that women have today throughout their high school and college life is making it difficult for women to be perceived in a professional and elegant manor. Belle Femme's goal is to help women break away from this perception of the stereotypical college girl and be there to support women and help them become the professional image that corporations and service operations are looking for to be their managers and owners. This trend directly supports our business efforts and our sales. All types of technology trends are growing exponentially in recent years. This is the reason we have realized that we need to be a part of the mobile market. Students are constantly looking at their phones while walking, talking, and socializing with their peers. Students are also shopping online during class. We have witnessed this through personal experiences experiences throughout college. With college focusing on getting a good job and internships, we are hoping to be of help to the students and their search for a career. Internal Audit for Experience Economy Four E’s and Four P’s information located in a chart on Page 6. (MBASkool, 2014) Competitive Analysis SWOT Analysis Our major competitors are J. Crew, Mango, Banana Republic, and Zara. We are also competing against other professional clothing retail stores located in both large and small cities. SWOT Analysis chart located in a chart on Page 7. (MBASkool, 2014)
5
E sc a pi st
E nt er ta in m e nt
E st h et ic
Feminine and empowered photos of women load the walls of Belle Femme stores to show our customers what we can do for them.
Many accessories and colorful items are placed thoughtfully throughout the store to give customers small things to grab their attention as they walk around.
Our stores have bright white lights allow the customers to view the clothing items clearly as they are shopping and also to view the items they are trying on. Mirrors are posted throughout the store allows the customers to view accessories without the hassle of waiting for a dressing room. Elegant chairs are carefully placed near the dressing rooms for accompanying guests to wait comfortably. comfortably.
The employees and mannequins wear Belle Femme clothing to present and surround the customers with fashionable options.
The fashion show advertising lets potential customers see items up close and in person. The phone application allows women to see how our clothing really fits other women in real life photos.
Our advertisements provide interesting and elegant colors, textures, patterns and accessories to draw potential customer's interest. The QR barcodes are entertaining to students who are curious and exploration.
The fashion shows are displayed on campuses where potential customers' attention will be caught as they walk between classes. As they walk close enough to hand out flyers or coupons.
Employees are encouraged to wear Belle Femme clothing during their shifts to promote the different styles to customers while they shop. Employees are also encouraged to wear Belle Femme clothing and accessories outside of the workplace to extend brand examples to different areas in which they reside.
We put together fashion shows on college campuses to give students an opportunity to view different styles. Belle Femme advertisements focus on sophisticated styles and empowered women stances.
In store, our customers are actively immersed in the shopping experience from the moment they walk into the store by the personalization of the help from our stylists. (AESHM 474 Learning Activity #3, 2014)
With the involvement of our style specialists, our customers are engaged and actively participate in the activities of shopping and clothes fitting. To extend the shopping experience outside of the stores, women are entertained by our free phone application and our website. This provides customers with a source of entertainment for window shopping and for purchasing items on the spot. (AESHM 474 Learning Activity #3, 2014)
Our customers are passively involved in our environment through the enjoyment being surrounded my color, texture, and patterns of the clothing and accessories. Customers unknowingly view employees as models for the brand. (AESHM 474 Learning Activity #3, 2014)
6
E d u ca ti o n al
E d u ca ti o n al
Ma ng o
Tags that are attached to our products include information about the item's material, color, color, text ure, price, and designer.
Our advertisements provide potential customers with different style and outfit ideas. We have posted QR barcode scanners and flyers to provide potential customers with store locations, hours, website, and phone application information.
Each of our stores employs multiple style specialists. Throughout their day at work they assist customers with questions, advice, and clothes fitting to find the perfect professional look for each individual customer. This technique will give our customers are active involvement with their shopping experience while teaching them how to dress for their body type. (AESHM 474 Learning Activity #3, 2014)
Each of our stores have window displays in front and throughout the store.
Tags that are attached to our products include information about the item's material, color, color, text ure, price, and designer.
Our advertisements provide potential customers with different style and outfit ideas. We have posted QR barcode scanners and flyers to provide potential customers with store locations, hours, website, and phone application information.
Each of our stores employs multiple style specialists. Throughout their day at work they assist customers with questions, advice, and clothes fitting to find the perfect professional look for each individual customer. This technique will give our customers are active involvement with their shopping experience while teaching them how to dress for their body type. (AESHM 474 Learning Activity #3, 2014)
Properties
Product Presentation
Promotional Applications
People
Each of our stores have window displays in front and throughout the store.
They have a strong brand presence with their goal to be present in every city of the world. The presence of stores at prime locations has given the brand a strong footing in terms of the overall brand equity. Their foray into menswear has also been a success as a part of their diversification strategy. strategy.
Designed and sourced from Spain which is more expensive than its European counterparts. Major revenues earned by the brand are from apparel only. Controversy over some designs has initiated lawsuits inviting criticism from the fashion industry.
Can emerge in India and Africa, which are largely unsaturated, instill growth and stability for the brand. Could diversify further into many other product lines.
Fluctuations in currency threat overall sales revenues. The highly fragmented fashion industry means low brand loyalty and high bargaining power for consumers due to low switching cost. An emergence of many new designers in this segment.
7
Za ra
Ba na na Re pu bli c
J. Cr ew
Bel le Fe m me
A well-established brand name worldwide. The supply chain management, most of their processes like operations, manufacturing is extremely low cost. Clothes are produced at a low cost with the most innovative and fashionable designs. They are a part of one of the biggest Spanish retailers in the world.
Global brand recognition and popular brand image. Popular with premium class looking for luxury. International fashion and global trends are satisfying the needs of its loyal customers. Franchising system easy to expand. Strong distribution gap means its available at all multi-brand retail stores globally.
Has around 13,000 employees working to make the brand better through more than 320 stores in the United States. They ship to a total of 100 destinations through their e-commerce website. They also partners with the finest global fabric mills and craftsmen.
They use an unusual strategy of no advertisements. Their target segment is not very loyal and might go for cheaper and newer collections.
There are more global markets which they can explore. Online marketing and ERetail is gaining importance.
The high-end fashion merchandisers can be a major threat to them. Economic downturn can also be a threat to their target segment. There is a large amount of consumer switching taking place.
They are perceived as an extremely expensive product.
They have global markets in Europe and China and other emerging economies. Penetration of ecommerce sales made online is growing. Tie-ups with fashion houses and retail chains.
Economic fluctuations affect apparel retail business. Cost of prime real estate is competitive. Increasing awareness and penetration of competitive brands.
Venturing into new specialty shops for men, women and kids. Adding deluxe shoe and handbag salons in existing stores.
Their brands offer more fashionable clothing at better value. Their fashion trends change rapidly. rapidly. Their rising production costs can put a dent in the profits of their brand.
Does not have stores worldwide, hence the company cannot tap other markets, and their currency fluctuations can increase the costs incurred in shipping to other locations.
Advantage in advertising and promoting our products with our unique strategies. Our phone application and fashion shows around the college campus bring a creative and unique brand image.
Our lack of experience in the market and business industry in large cities. It is logical that many suppliers would not like to support a new business.
To join current and future social media applications and to partner and sponsor with schools and clubs for helping young women.
Our competitors currently have more locations than we do, which puts us at a disadvantage for our market share. Women are already familiar with our competitors' brands and products.
Strengths
Weaknesses
Opportunities
Threats
Marketing Trends
8
Market/Customer Trends: Market and Customer trends will go through the employees’ and customers’ communication communication and feedback. Our boutique strives to know more detailed information about what the customers really want so we are able to make changes to accommodate each new generation. Also through our observations and market research, we will be able to stay up to date on trend changes and make prompt adaptations. Related Industry Trends: Retail Industry trends change depending on the seasons, holidays, and also the ages and sex of the customers. Customer demands vary at different times. The most influential trend is the change in seasonal clothing to satisfy customers' needs. According to the market demand, for example, when the season is early winter, customers may need a trench coat or a sweater to keep warm or they just want a scarf to accessorize. At this time, our store will follow the season changes by switching out some autumn clothing for winter clothing and accessories. Market Potential The total demand based on our population research shows that there are more than half of the percentage of people in New York are women (52.8%). Among these women, there are 44.5% who are 18 years old and above (U.S. Census Bureau, 2014). This means we have a large group of customers and “power spenders”. These women are our main focused customers that we want to walk into our boutique. Our competitors have more stores in New York than we will in during the startup of our business. As our brand grows through our promotional efforts, we will be able to expand our boutique throughout New York, locating in malls and strips near residential areas. Although our competitors have advantage in number of properties, we share some of the same market of young women. With our strong focus on younger women upcoming into the business and service industry, our brand has an opportunity to come out on top. We believe that when our business opens we will have a positive influence in the women’s clothing market on both our clothing lifestyle and our new phone app, especially for young women. They are very interested in the new upcoming technology, so our phone app will be the new generation in shopping technology. They can select their clothing or match the different style at any time and anywhere. This will shrink the time needed to find and purchase items, leaving them with more time to scroll through more real-life photos.
Vision
9
We strive to be the top choice in women’s clothing through inspirational help to empower and improve women’s professional lives.
Mission Belle Femme creates emotional connections with customers around the world through inspiring product design, unique store experiences, and compelling marketing. We want to make it easier for our customers to express their personal styles. Our key values are integrity, respect, open-mindedness, quality, and balance. We honor these values and exemplify our belief in doing our business in a socially responsible way. Our purpose is to give our customer an exclusive choice of fashion by providing a quicker turnover of new stock than other fashion retailers.
Business Objectives and Marketing Strategies Our business objectives, and sales and marketing strategies are to reach to the level of a more professional and classy image and position in the industry through: Improving brand awareness through up to date and interactive advertisements. To reach this goal, Belle Femme Femme has planned interesting and interactive guerrilla marketing strategies. Hosting fashion shows on college campuses showing off our best styles and clothing to open potential customers’ minds, while handing out special coupons and flyers to inform and try to bring in new customers. Increasing revenues and customer satisfaction through active customer participation with our professional stylists. Having these in-store stylists are simply a benefit to our customers. We want to create relationships with our customers and help them until they find the products they love and the products that will lead them to success. Increasing revenues through customer-employee communication and relationships, and use of our phone application and our easily accessible website. Our phone application is made to easily navigate through to view real photos of women wearing our clothing to give them a true idea of what these items will look like li ke on women who are not professional models. The Belle Femme website is available to communicate with our stylists from home. We want to create a relationship with our customers, even online.
10
Financial Analysis Start-up costs Below is a list of our general startup expenses for Belle Femme. Our startup assets include computers, cash registers, clothing inventory, etc. and also we included costs incurred while starting our website and mobile phone application. (AESHM 474, Prophecy Software, 2014) (Google, “Shopping”, 2014) Startup Costs Web Site Design Site Implementation Five Year Website Domain Registration (Five Year Search Engine Registration Initial Deposit Startup Inventory Insurance POS Software
$3,000 $0 $95 $10,000 $0 $55,500 $1,100 $300
Computers / Cash Registers
$6,500
Phone Application
$2,000
Leasehold Improvement Rent for Month of Improvements
$20,000 $3,000
Marketing
$11,350
Long-Term Assets
$24,599
TOTAL STARTUP COSTS
$137,444
Source of funds
We have chosen only one of the three of us to be the sole Owner of Belle Femme as to receive the benefits of having a Sole Proprietor. The other two of us will be named the General and Assistant Manager based on our knowledge and experience and demand to be a part of the ownership. We We will all three be participating in the startup funding of Belle Femme. This of course comes with signed agreements to provide the positions necessary necessary for a certain length of time in order to earn back
11
our investments. The sole Owner will be providing the largest investment because she has the largest amount saved knowing she was going to start her own business. The General Manager and Assistant Manager are not obligated to pay any amount of investment to help start the business. However, since they have chosen to help finance the Belle Femme Startup, they are provided job security and a voice in the future of the company, as well as heir to ownership as the current Owner’s exit strategy. With the amount of investment saved by the Owner and Managers, Belle Femme will still need to acquire a bank loan for roughly $55,744. This loan will be paid off throughout the years with help from the Owner, General Manager and Assistant Manager. (AESHM 474, Prophecy Software, 2014) Startup Funding Personal Savings - Owner
$41,700
Personal Savings - General Ma Manager ger
$25,000
Perso ersona nall Sa Saving vings s - Ass Assis ista tant nt Man Manag ager er
$15, $15,00 000 0
Bank Loans
$55,744
Land and Building Expenses
Belle Femme will be located in New York City in Queens area. During our research on the real estate market in Queens, New York City, we discovered that area is measured in square meters. So the space Belle Femme needs is around 6,667 Square Feet, which will be spread over one floor, at the same time this store will require a whopping 15 employees on payroll for the store. The floor is organized around two long corridors that lead into the more intimate boutique-like spaces. The total rental cost per month will be around 3,000, totaling at $36,000 per year. (Voien G., 2013)
Income Statement In addition to the owner, who receives a salaried pay, there will be one full-time General Manager, who also receives a salary, and one part-time Assistant Manager and two Style Concierges. The Assistant Manager will be paid at a rate of $20.00 per hour and the Style Concierges will receive a rate of $15.00 per hour, plus benefits. Other employees hired for Belle Femme will be paid competitively and based on experience, and improvement. All employees will receive general benefits such as a 50% store discount, Time and a half for working holidays, paid vacation hours based on number of hours worked, and possibly a free outfit of their choice on occasion. (AESHM 474, Prophecy Software, 2014)(Bplans, “Women’s Clothing Boutique Business Plan”) (Bplans, “Clothing Retail Business Plan”) (AESHM 474 Sample Business Plans, 2010-1014)
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Personnel Plan Year 1
Year 2
Year 3
Year 4
Year 5
Owner
$73,000
$76,000
$90,000
$90,000
$95,000
General Manager
$50,000
$52,000
$60,000
$60,000
$60,000
Assistant Manager
$39,600
$42,000
$43,500
$44,500
$46,000
Style Concierge
$18,400
$4,000
$4 , 000
$5,000
$5,000
TOTAL PEOPLE
4
5
5
5
5
Total Payroll
$181,000
$174,000
$197,500
$199,500
$206,00 0
("Retail Store Manager Salary | Salary.com", 2014) The projected Profit and Loss for the first five years of business are detailed in the following table and charts. Sales will increase each year, as will expenses and costs of goods as we purchase more products to accommodate for the market’s demand. We do project profits growing profits each year. Income Statement (Years 1 through 5) Year 1
Year 2
Sales
$513,503
$599 , 403
$609,402
$620,315
$630,937
Direct Cost of Sales
$204,820
$237 , 520
$239,896
$245,911
$249,600
$0
$0
$0
$0
$0
TOTAL COST OF SALES
$204,820
$237 , 520
$239,896
$245,911
$249,600
Gross Margin
$308,683
$361 , 883
369,507
$374,404
$381,337
6 0 . 11%
60.37%
60.63%
60.36%
60.44%
$131,000
$122 , 000
$137,500
$139,500
$146,000
Advertising
$4,800
$4 , 800
$4,800
$4,800
$4,800
Depreciation
$4,880
$4 , 889
$4,889
$4,889
$4,889
Amortization - Startup Costs
$5,500
$5 , 500
$5,500
$5,500
$5,500
Bank Services Charges
$480
$ 480
$4 80
$48 0
$480
Dues and Subscriptions
$600
$ 600
$6 00
$60 0
$600
Education and Training
$1,200
$1 , 500
$2,000
$2,000
$2,000
Insurance - Workman’s Comp
$3,372
$3 , 500
$3,600
$3,800
$4,000
Insurance - Property and Liability
$6,204
$6 , 200
$6,300
$6,500
$6,500
Interest Expense - LT Loan
$4,716
$4 , 716
$4,716
$4,716
$4,716
Other Costs of Goods
Gross Margin %
Year 3
Year 4
Year 5
Expenses Payroll
13
$110
$0
$0
$0
$0
Maintenance - Office
$2,400
$2 , 400
$2,400
$2,400
$2,400
Marketing and PR
$9,600
$10 , 000
$10,000
$10,000
$10,000
Miscellaneous
$3,600
$3 , 600
$3,600
$3,600
$3,600
Payroll - Charges
$797
$ 800
$8 00
$80 0
$800
Postage and Delivery
$600
$ 600
$6 00
$60 0
$600
Printing and Reproduction
$1,200
$1 , 200
$1,200
$1,200
$1,200
Prof Fees - Accounting
$1,500
$1 , 500
$1,500
$1,500
$1,500
$36,000
$36 , 000
$36,000
$36,000
$36,000
Repairs
$600
$ 600
$6 00
$60 0
$600
Security
$348
$ 350
$3 50
$35 0
$350
Supplies - Office and Store
$4,200
$4 , 200
$4,200
$4,200
$4,200
Travel and Entertainment
$8,500
$10 , 000
$10,000
$10,000
$10,000
Telephone and Internet Service
$1,440
$1 , 440
$1,440
$1,440
$1,440
Utilities
$2,100
$2 , 100
$2,100
$2,100
$2,100
$720
$10 , 515
$10,890
$11,490
$12,015
Employee Benefits
$9,000
$9 , 100
$9,100
$10,100
$10,100
Other
$2,400
$2 , 400
$2,400
$2,400
$2,400
$248,876
$251 , 490
$268,065
$276,065
$283,290
Profit Before Interest and Taxes Taxes
$59,806
$110 , 393
$101,442
$98,339
$98,047
EBITDA
$64,696
$115 , 282
$106,331
$103,228
$102,936
$6,753
$5 , 963
$5,138
$4,314
$3,489
Taxes Incurred
$15,916
$31 , 329
$28,891
$28,208
$28,367
Net Profit
$37,137
$73 , 101
$67,412
$65,818
$66,191
7 . 2 3%
12.20%
11.06%
10.61%
10.49%
License and Permits
Rent
Payroll Taxes
TOTAL OPERATING EXPENSES
Interest Expense
Net Profit / Sales
14
Here is a graph representation of our profit projections for the next five years.
Also presented here is a graph of our growing Gross Margin for the next five years.
15
Break-Even Analysis
Belle Femme’s break-even analysis below shows what our break-even point in sales volume per month. According to the graph, with profits along the left vertical axis, revenues approach the break-even point at $34,501 in revenues for that month. This is in reference of estimated monthly fixed costs listed below in order to find our break-even break-even point where we will be neither losing profit nor making additional profit. (AESHM 474, Prophecy Software, 2014) Break-Even Analysis Mont Mo nthl hly y Reve Revenu nue e Brea Break k-Eve -Even n
$34,5 $34,501 01
Assumptions Aver Averag age e Perc Percen entt Vari Variab able le Cost Cost
40%
Estim Estimat ated ed Month Monthly ly Fixed Fixed Cost Cost
$20,7 $20,740 40
Profit (Vertical (Vertical Axis) X Sales Volume (Horizontal Axis)
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Projected Cash Flow Statement
To ensure that Belle Femme will maintain cash flow, we will secure relationships with multiple vendors and representatives. To protect our company from late deliveries, high price points, etc., and ourselves we will follow some procedures to keep us on track. We will research average price points of competitors and vendors to ensure that a good variety of prices are maintained. We will review shipping and transportation transportation policies of our vendors to guarantee our deliveries will be on time or early, or that vendors will offer discounts if deliveries are late. Vendors and on time deliveries are crucial to our profits and sales, keeping information regarding market demand and turnover rates to project appropriate goods to purchase. Lastly, Belle Femme will agree to payment terms and agreements with vendors that are willing to work with our company to provide the services needed and prices negotiated to reach Net 30 terms as soon as possible. (AESHM 474, Prophecy Software, 2014) The five-year projected Cash Flow Chart is shown below for the Belle Femme Clothing Company. Pro Forma Cash Flow Year 1
Year 2
Year 3
Year 4
Year 5
Cash Received
$103,620
$165,709
$2 $225,647
$284,924
$344 , 513
Cash from Operations
$513,503
$599,40 ,403
$609 609,402
$620,315
$630,93 ,937
Cash Sales
$513,503
$599 , 403
$609,402
$620,315
$630 , 937
SUBTOTAL CASH FROM OPERATIONS
$513,503
$599 , 403
$609,402
$620,315
$630 , 937
Sales Tax, VAT, HST/GST Received
$0
$0
$0
$0
$0
New Current Borrowing
$0
$0
$0
$0
$0
New Long-term Liabilities
$0
$0
$0
$0
$0
Sales of Other Current Assets
$0
$0
$0
$0
$0
Sales of Long-term Assets
$0
$0
$0
$0
$0
New Investment Received
$0
$0
$0
$0
$0
Additional Cash Received
SUBTOTAL CA CASH RE RECEIVED
$513,503
$599,403
Year 1
Year 2
$609,402
$620 , 315
Year 3
Year 4
$630,937
Pro Forma Cash Flow Continued Expenditures
Year 5
Expenditures from Operations
17
Cash Spending
$131,000
$122 , 000
$137,500
$139,500
$146,000
Bill Payments
$275,075
$404 , 006
$400,156
$409,729
$414,040
SUBTOTAL SPENT ON OPERATIONS
$406,075
$526 , 006
$537,656
$549,229
$560,040
Sales Tax, VAT, HST/GST Paid Out
$0
$0
$0
$0
$0
Principal Repayment of Current Borrowing
$0
$0
$0
$0
$0
Other Liabilities Principal Repayment
$0
$0
$0
$0
$0
$10,308
$10 , 308
$10,308
$10,308
$10,308
Purchase Other Current Assets
$0
$0
$0
$0
$0
Purchase Long-term Assets
$0
$0
$0
$0
$0
$1,000
$1 , 000
$1,500
$1,500
$1,000
$417,383
$537 , 314
$549,464
$561,037
$571,348
$96,120
$62 , 089
$59,938
$59,277
$59,589
$103,620
$165 , 709
$225,647
$284,924
$344,513
Additional Cash Spent
Long-term Liabilities Principal Repayment
Dividends
SUBTOTAL CASH SPENT Net Cash Flow Cash Balance
Referenc $ $ Clothing Retail Business Plan. (n.d.). Retrieved December 1, 2014, from www.bplans.com Dr. Dr. Neihm, Linda (Fall 2014). Prophecy Software. Retrieved Retrieved November 2014 from AESHM 474-574 Entrepreneurship in Human Sciences. Dr. Dr. Neihm, Linda (Fall 2014). In class Entrepreneurial Learning Activity #3-4Es and Guerrilla Marketing( File: DQ3 and 4 Es Assessment Tool 2014.doc). Retrieved September 30, 2014, from AESHM 474-574 Entrepreneurship in Human Sciences.
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MBASkool (2014). Banana Republic | SWOT Analysis | BrandGuide | MBA SkoolStudy.Learn.Share. Study.Learn.Share. Retrieved October 24, 2014, from http://www.mbaskool.com/ brandguide/lifestyle-and-retail/2659-bananarepublic.html MBASkool (2014). J Crew | SWOT Analysis | BrandGuide | MBA SkoolStudy.Learn.Share. Study.Learn.Share. Retrieved October 24, 2014,from http://www.mbaskool.com/brandguide/lifestyle-and-retail/3418-j-crew.html MBASkool (2014). Mango | SWOT Analysis | BrandGuide | MBA SkoolStudy.Learn.Share. Study.Learn.Share. Retrieved October 24, 2014, Retrieved from fr om http://www.mbaskool.com/brandguide/lifestyle-and-retail/2848-mango.html MBASkool (2014). Zara | SWOT Analysis | BrandGuide | MBA SkoolStudy.Learn.Share. Study.Learn.Share. Retrieved October 24, 2014, from http://www.mbaskool.com/ brandguide/lifestyle-and-retail/3814-zara.html Retail Store Manager Salary | Salary.com. (2014, December 1). Retrieved December 9, 2014, from http://www1.salary.com/R http://www1.salary.com/Retail-Store-Manageretail-Store-Managersalary.html Scarborough, N. (2014). Chapter 11: Creating a Successful Financial Plan. In Essentials of Entrepreneurship and Small Business Management(Seventh ed., pp. 390-426). Pearson Education. Retrieved December 1, 2014. U.S. Census Bureau (2014, July 8). New York County Quickfacts from the U.S Census Bureau. Retrieved October 25,2014, from http://quickfacts.census.gov/qfd/states/36/36061.html Voien, G. (2013, October 1). Manhattan leasing strong in Q3; Midtown market stratifies. Retrieved November 14, 2014. Wikipedia Market segmentation Definition. (2014, October 24). Retrieved October 28, 2014, from http://en.wikipedia.org/wiki/Market_segmentation Women's Clothing Boutique Business Plan. (n.d.). Retrieved December 1, 2014, from www.bplans.com
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