WK5 Final Project u2013 Business Plan Paper.docx - 1...

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1 Hometown Consignment Hometown Consignment Business Plan Ohio Christian University Toni M Horsley December 12, 2020 BUS2200 Entrepreneur Basics (ONLF20) Professor Micah Dorsey
2 Hometown Consignment Table of Contents Executive Summary ………………………………………………………………………………………… 3 Business Description …………………………………………………………………………………...…... 4 Marketing Plan ……………………………………………………………………………………………….. 5 Competitive Analysis …………………………………………... ……………………………………………… 6 Product, Price & Promotion ………………………... ……………………………………………………………… 7 Organization and Management ……………………………………………………………………………………... 8 Organizational Chart …………………………………………………………………………………………… 10 Marketing and Sales Strategy ………………………………………………………………….. ……………………. 11 Financial Management …………………………………………………………………………..………... 12 Balance Sheet …………………………………………………………………………………………. 13-14 Income Statement ……………………………………………………………………………… ........ 15-16 Cash Flow Statment ……………………………………………………………………………………. 17-21 References ………………………………………………………………………………………. 22
3 Hometown Consignment Executive Summary Hometown Consignment is a quality online and in-person thrift store and consignment all in one. Hometown Consignment specializes in juniors and women's clothing, shoes, handbags, and accessories. Hometown Consignment will choose items for sale based on each item's quality, designer label, age, wear, and the price at the initial time of purchase. Consignment and thrifting have been made simple with the easy-to-use online webpage and a unique in-person shopping and consignment experience. Once a team member has selected the items from the online consignment customers, the consignors are sent via email a prepaid shipping label to ship their items to the Hometown Consignments direct store for further inspection. Upon an item's arrival, they will be thoroughly inspected, cleaned, sanitized, and be made ready for posting on Hometown Consignment online website as well as in the shop itself. For in-person consignment, customers will bring the items in for inspection. Customers will shop at Hometown Consignment frequently for inexpensive and great quality women's apparel and accessories for themselves or loved ones. There will also be an appeal because we offer various styles, not just what is trending. Within Hometown's first year, marketing will be mainly on free social networking sites such as Facebook and Twitter. Hometown Consignment will also take advantage of word of mouth within the first year. Within the second year, we plan to expand our advertising to include neighborhood newspapers, print advertising, and direct mail advertisement. The target market for Hometown Consignment was determined using insight into the economy within the location Hometown Consignment will be, which is of lower-income. Our customer profile will be females ranging between 13 to 42 years of age. Our customers will be of the working class, lower class to lower medium class who has trouble making ends meet. Within the first year, Hometown Consignment employees will consist of a family setting, including Toni Horsley, Amanda Morrison, Betsy Montgomery, and Nathan Osbourne. These four employees will make up the

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