The World's Leading Business Plan Template Directory

, / 20006 0

Clothing Store Business Plan Template [2020 Updated]

SHARE

V.Competitive Analysis


You can download our Clothing Store business plan template (including a full, customizable financial model) to your computer here.

Direct & Indirect Competitors

The following clothing stores are located within a 10 mile radius of [Company Name], thus providing either direct or indirect competition for customers:

Joey’s Clothing

Joey’s Clothing is described by their own marketing as “selection that can’t be beat” and has been in business for 32 years. Joey’s offers a wide variety of children’s clothing for ages up to tweens.

Joey’sfocuses on national and regional manufacturers that sell a wide variety of products. Joe’s generally has low and medium-priced options for each type of clothing. Joey’s does not sell at least 75% of the high-end products that [Company Name] plans to carry. Joey’s is also located on the outskirts of town and lacks foot traffic to its store.

Macy’s

Macy’s is in the mall in a neighboring town and carries a variety of children’s clothing. With national advertising and high volume of sales overall, due to the many departments within Macy’s, Macy’s is well-known in the community as a source for children’s clothing.

However, Macy’s is not seen as a place to shop for gifts for children as the clothing within are seem as uninteresting and relatively low fashion. The majority of shoppers within the Macy’s children’s department are price-conscious mothers, who shop based on sales and discounts offered. Others dislike Macy’s for the long waits at checkout within the store.

Gymboree

According to its marketing, “Gymboree carries high-quality children’s clothing and accessories in sizes newborn to age 12.”Gymboree opened a location five miles way from [Company location] one year ago. Gymboree has been successful, selling fashionable clothing that is still rugged enough to allow children to play.

[Company Name] has several advantages over Gymboree including:

  • Gymboree sells only Gymboree brand clothing, limiting its options
  • Gymboree is far from the downtown area where customer foot traffic gives greater visibility
  • Gymboree does not offer gift-wrap service within the store

We expect that Gymboree will continue to thrive based on excitement about a recognizable chain among some townspeople. However, we expect that more and more customers will frequent [Company Name] based on the location and the fact that we are independently owned and operated.

Competitive Pricing

 Joey'sMacy'sGymboree
Sweaters$10-$15$15-$25$25-$35
Pants/Jeans$15-$25$20-$30$25-$35
Dresses$20-$30$25-$35$35-$45
Pajamas$10-$15$15-$20$15-$22

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include:

  • 5 and Under Focus: [Company Name] will focus solely on clothing for children 5 years of age and younger, which is the fastest growing market segment by revenue. By focusing on younger children, we are able to carry a wider variety of high-end brands for these children.
  • Management: Our management team has years of children’s clothing retail experience that allows us to sell to and serve customers in a much more sophisticated manner than our competitors.
  • Relationships: Having lived in the community for 25 years, [Founder’s Name] knows all of the local leaders and newspapers, as well as clothing suppliers. As such, it will be relatively easy for us to build branding and awareness of our store.
Pages : 1 2 3 4 5 6 7 8 9 10