Mrs. Montgomery has a degree in secretarial science and has worked various jobs as a secretary.
9Hometown ConsignmentOrganizational Chart – First Year
10Hometown ConsignmentMarketing and Sales StrategyOwnerToni HorsleyAssistant ManagerNathanOsbourseSecretaryBetsyMontgomery GeneralManagerAmandaMorrison
11Hometown ConsignmentNearly 1 billion people survive on less than $1 a day, and more than half the world's population lives on less than $10 a day, and 83% of single parents are mothers. (2020) The market for Hometown Consignment is lower-income single-parent households. The customers of Hometown Consignment are teenaged girls to women in their early to late 40s. There will be a demand for Hometown Consignments products and services because of the 10% difference in how much money we make off a consigner's items compared to other competitive consignment shops. Our consignment fee is 50%, while others are charging 60%. Our clothing and accessoriesin our shop will be the lowest possible price. In today's uncertain economy, these two-key factorswill cause more of a demand for our shop's products and services than other shops in our radius. The distribution channels will be buying clothing and accessories in bulk, garage sales/yard sales, flea markets, and online platforms that sell used clothing, ideally in bulk, such as eBay. The promotional strategies of Hometown Consignment will rely on word of mouth, online platforms such as Facebook, Downtown Consignments direct site, Twitter, direct mail such as flyers and postcards, and sales promotions such as half off deals, etc. Pricing will be as cheap as possible while still generating income for the shop and having continuous marked down items to keep a constant flow of new inventory coming into the store. Hometown Consignment will be in a smaller sized town to be one of the main streets. The products Hometown Consignment will accept and sell will be of the best possible quality. We will not accept anything that is faded, damaged, or stained. We want to keep our image clean and make sure our customers continue coming back.Financial Management
12Hometown ConsignmentThe startup cost for Hometown Consignment is going to be in the range of $7,500.00. This price will depend on the items we can find in our price range and how many of the necessary items we are able to purchase secondhand. The opening of Hometown Consignment shop entails a variety of costs. Our cost I will mention below for operating the consignment shop will be annual, monthly, weekly, and daily. Hometown consignment must apply for local, county, and state permits. The cost for a state permit in Ohio is $99. (Dunn, 2020) The fee for the county permit is $25. (Vendor's License, 2020) Hometown Consignment will also need to apply for an Employer Identification Number (EIN). Obtaining an EIN is free, but there is a $75 filing fee. However, if we apply on our behalf,there will be no charge. (File an EIN, 2020) Hometown Consignment intends to rent a building in Chillicothe, Ohios' downtown area, instead of purchasing and having a mortgage. The