GIFT UR Co. is a proposed sole-proprietorship company operated by Divya and Parul Sharma and is a newly established retail store offering unique gifts and elegant collectible gifting options. Located in New Delhi, India, we will cater to special consumers who are interested in finding unique items to gift or finding a gift that cannot be found in the national chain store in the very busy, very congested shopping mall. We intend to expand our business by carefully building a repeat customer base and provide the products and merchandise they wish to purchase. We feel it is important to offer personal customer support and services to achieve our business philosophy.
GIFT UR Co. is a start-up retail store (which will be present on both online and offline platform) offering fine, personalized and customized gifts like mugs, cushions, t-shirts, etc . The store will be located in New Delhi, India catering to the middle- and upper-class consumers who look beyond the congested retail malls for the special shopping experience. In addition to offering a wide array of unique, quality products, the consumer will enjoy friendly and knowledgeable customer service and a convenient, uncongested location. This business plan is prepared to obtain financing in the amount of Rs. 20 Crores to purchase inventory and to help cover expenses in the first year of operations. We are also asking for a credit line of Rs. 1 Crores to be used as necessary in low cash flow periods. Divya and Parul Sharma will own and operate the store together as a team. They will provide Rs. 10 Crores in cash as an equity investment to be used in start-up costs, equipment purchases, and operating capital. The sales forecasts used in this plan are very conservative compared to a similar business now operating in New Delhi. Parul has observed the strengths and weaknesses of this store and is convinced it can be done better.
- To develop GIFT UR Co. into the premier gift retail store in New Delhi, India.
- To begin and maintain a gross profit margin above 40% for the first year.
- To acquire a customer base of 4,000 by the end of the second year by using personal customer service and marketing.
- To achieve a substantial net profit by the end of Year 3.
To succeed in this business we must:
- Sell products the customer desires and are of the highest quality.
- Provide friendly customer service.
- Establish excellent vendor/supplier relations that will facilitate quick shipment of orders.
- Advertise and promote our store immediately to take advantage of the current Christmas shopping season.
- Continuously review our inventory and sales and adjust our inventory levels based on detailed records.
The ideal customer we expect to serve is:
- Middle to Upper Class
- Primarily Female
- 20-75 Years of Age
- Quality Conscious
- Value Conscious
- Family Oriented
We will attract these customers by offering unique and uncommon product selections not found in the mass-market retail stores.
THE ELEVATOR PITCH FOR MY BUSINESS PLAN