Bridal Retail Shop Business Plan is a document that outlines the major aspects of your Bridal Retail Shop Business Plan. In fact, it articulates what the business is, its objective, how it operates, the structure/segments and management of the business and other important elements.
Important Usages:
Table of Contents
As a matter of fact, this Bridal Retail Shop Business Plan template can be used for an upcoming, start-up, and ongoing business entities.
Furthermore, this business plan could also be used for Grant Applications, Bank of Industry (BOI) funds, SMEDAN supervised grants, other grants from World Bank, Youwin programmes, Npower programme, NGO support services, Bank Loans, Proposal writing, Business Concept Note, etc.
The Business Profile:
BEAUTY BRIDAL SHOP ENTERPRISE is a bridal retails enterprise to be located in Wuse Market Abuja.
BEAUTY BRIDAL SHOP ENTERPRISE is to be registered at CAC Nigeria as an enterprise on the 23trd of January, 2018. To this effect, the primary object clause of the enterprise is “to carry on business of trading, marketing, sales and distribution of bridal Products and wedding accessories, general goods, manufacturers’ representatives, general suppliers and general contractors.”
BEAUTY BRIDAL SHOP ENTERPRISE is to commence operation at the second half of 2018.
BEAUTY BRIDAL SHOP ENTERPRISE FIVE YEAR BUSINESS PLAN/PROJECTION
This Five-Year Business Projection/plan is for BEAUTY BRIDAL SHOP ENTERPRISE. BEAUTY BRIDAL SHOP ENTERPRISE is to be located in Wuse Market, Abuja FCT, Nigeria. This business plan takes effect from 1st February, 2018.
In fact, the purpose of this operational/business projection is to:
(a) Attract new/incoming investors
(b)Apply for BOI Fresh Graduate Entrepreneurship Fund
( c) Apply for Youwin Fish Farming Support Fund
(d) Seek for bank financial (loan) facilities, and
(e) To assist BEAUTY BRIDAL SHOP ENTERPRISE Management Team in the business Administration decisions.
Two major business lines are involved in this projection.
The first is the Bridal Wears.
In the modern life of beauty and decoration, bridal wears change from time to time, season to season, and reflects different tastes and fashions. This line of the business will try to stock all reigning, modern, local, foreign and fashionable wedding apparels to meet the variety of our customer tastes.
The second is the wedding accessories.
In addition, these accessories are both local and foreign. Our survey reveals that local accessories are very prominent as wedding ornaments in the recent times. This is because of the much attention attached now on traditional wedding.
This Business Plan:
This business plan will show the expected financials and operations over the next five years. This project will require N3, 000,000 to take off. It will however need a loan capital of N2,000,000, which is required to finance both current and non-current assets which are essential to carrying out this business.
As a matter of fact, the proprietor of BEAUTY BRIDAL SHOP ENTERPRISE has been able to raise 1,000,000 from his personal saving. This sum will augment the N2,000,000 to be financed by the would be investor, lender or BOI/Npower grants.
The competitive edge of the business is in its ability to penetrate into the market freely with the use of marketing strategies that will promote rapid turnover. In addition, it has in mind to establish many distributive outlets and showrooms across Abuja, Nigeria, especially at the suburbs like Nyanya, Kubwa, Lugbe towns in the next five years.
BRIDAL RETAIL SHOP BUSINESS PLAN
The table below shows the projected turnover for the five years.
| ANNUAL REVENUE PROJECTION PER YEAR FOR 5 YEARS IN NAIRA |
||||||
| YEAR | 1 | 2 | 3 | 4 | 5 | |
| Bridal Shop | 3,000,000.00 | 3,600,000.00 | 4,320,000.00 | 5,184,000.00 | 6,220,800.00 | |
| Wedding Accessories |
1,500,000.00 | 1,800,000.00 | 2,160,000.00 | 2,592,000.00 | 3,110,400.00 | |
| Other Income | 350,000.00 | 420,000.00 | 504,000.00 | 604,800.00 | 725,760.00 | |
| TOTAL | 4,850,000.00 | 5,820,000.00 | 6,984,000.00 | 8,380,800.00 | 10,056,960.00 | |
The turnover projection is based on 20% growth annually.
In summary, this project is highly recommendable, because judging from the above turnover; the business will offers good investment benefits which makes it technically feasible, financially viable and economically desirable.
BEAUTY BRIDAL SHOP ENTERPRISE vision is to become a household name in the Bridal Wears and accessories market in Abuja.
BEAUTY BRIDAL SHOP ENTERPRISE OBJECTIVE
The objectives of BEAUTY BRIDAL SHOP ENTERPRISE are:
- The procurement and marketing of high quality bridal wears and accessories.
- Procurement, stocking, renting and retailing of bridal wares.
- The activities as manufacturers’ representatives, general suppliers and general contractors
- Generate customer satisfaction so that at least 60% of our customer base return for more businesses.
Furthermore;
- To generate sufficient cash flow to finance the activities of the company, and the future growth and development of the company.
- To provide key resources needed by the company and its owners.
- Then, expand the business at a rate that is both challenging and manageable, and competitively enviable.
- To maintain a Constant growth in sales at all time.
Our Mission Statement: To create value for all customers and stakeholders through stocking of quality products and services.
BRIDAL RETAIL SHOP BUSINESS PLAN – EXPANSION PLAN
With regard to this, BEAUTY BRIDAL SHOP ENTERPRISE has built into this business plan a 20% growth rate per annum from the second year. With the sustenance of this growth rate, the business will be able to pay off its loan facilities, and retain enough net profit to finance the anticipated growth.
To start with, the expansion plan in the short run is expected to start from the second year and to take the following form.
- Opening of branch shops at the suburbs of Abuja. This will require leasing of business premises and procurement of equipment necessary to run the outfits.
- Collaborating with local manufacturers for bridal wear production
- The establishment of retail commission marketers.
PROPRIETOR @ BRIDAL RETAIL SHOP BUSINESS PLAN
Mr. John Ogbe is the proprietor of BEAUTY BRIDAL SHOP ENTERPRISE. He is a graduate of Textile Sciences from the University of Abuja.
Mr. John graduated in 2014, and did not want to look for the awaited non-available white collar jobs, but went straight into training as a fashion designer. So, he was able to finish his apprenticeship in 9 months, and has worked for two other professional fashion designers since then gathering work experiences from them.
In fact, the desire to be an entrepreneur has been in him even before he graduated from the university. He has also attended federal government Youwin and Npower skill acquisition training in 2017, after which he attended Complete Full Marks Consultants Limited coaching sessions for 3 months to finally equip himself ready to start this business by the first half of 2018.
BUILDING OF SYNERGY:
As a matter of fact, Synergy is the benefit that results when two or more agents, partners, associates, management team etc. work together to achieve something either one couldn’t have achieved on its own. In fact, it’s the concept of the whole being greater than the sum of its parts. Synergy can be reflected in increased revenues, lower expenses and profitability.
However, BEAUTY BRIDAL SHOP ENTERPRISE hopes to collaborate with interested investors in a synergy that works to produce greater results. In fact, it is hoped that this partnership will result in BEAUTY BRIDAL SHOP ENTERPRISE’s rapid growth and development.
BRIDAL RETAIL SHOP BUSINESS PLAN – PRODUCTS AND SERVICES:
Shown below is a description of the products to be offered by BEAUTY BRIDAL SHOP ENTERPRISE.
Furthermore, we will ensure adequate procurement, stocking, renting and retailing of bridal wares at all time. Every wedding accessories will be provided jointly.
In fact, the dream of every spinster on wedding activities will be taking care of here and the joy of every bachelor wedding will be fulfilled.
SOURCES OF PRODUCT:
Bridal Showroom/Retail Shop: Procurement, stocking, renting and retailing of bridal wares is the core operation of this segment of the business.
Therefore, BEAUTY BRIDAL SHOP ENTERPRISE intends to source the bridal wares both locally and internationally. In addition, all the Nigerian peculiar bridal accessories will be procured locally. 60% of the wedding gowns will be imported.
THE MARKET:
Why do Nigerian ladies attach so much importance to wedding ceremonies? What is the place of traditional wedding in Nigeria and in fact Africa in general?
These two factors have led to the growth of this market in Nigeria.
In addition, wedding dresses trends change every season. Bridal gowns are represented by a wide range of styles, and have an original cut and gorgeous design.
In fact, there is a enough market for this business.
Get More Information @ Bridal Retail Shop Business Plan:
Yea! You need more information to complete this business plan? Therefore, Call me on +234 8034347851 or via [email protected]. and you will have your business plan ready immediately.
I fact, Click here to get at our services. As a matter of fact, we take care of your business right from the start-up processes of business registration or incorporation with CAC. Your accounting, auditing, tax management to sourcing for you every business information. In addition, if you need buying, marketing, production etc of anything you are interested in; just contact us.
Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.
