H.O.M. Inc

H.O.M Inc

1.1 Objectives

The objectives of H.O.M are:

To generate a $500 in sales per square foot of the shop and turn the inventory 4 times

To bring awareness among people about affordable cloth shopping and increase sales through advertising in country's print media and getting publications in the famous fashion magazines

To drive and maintain profit margins at least 10-15% by placing special focus on cutting costs of goods sold and lessening expenses.

1.3 Keys to Success

There is a lot of competition prevailing in the ready-made clothes industry where people are much aware about the benefits of affordable clothing and therefore cannot experience variety as they cannot afford to buy many clothes. The major gap lies in the position aimed and the current position which is regarding the sales volume, number of customers and prevailing reputation in the market. H.O.M aims to gain success by working on all the three mentioned factors.

2.1 Company Ownership

H.O.M has been established as a sole proprietorship because the structure of the shop is very easy for customers to search and buy, the information about clothes is easily and readily available and the records are kept of the taxes paid. For the future, H.O.M will focus on forming collaborations and partnerships with other similar businesses or acquire an infant company in order to expand its operations. Legal documents in terms of permits and protections will need to be obtained such as the company registration number, tax registration certificate, and registration of the company will be done at the registrar's office.

3.1 Product and Service Description

H.O.M aims to provide chic and stylish clothing for the young fashionable girls of the modern world who want t experience variety while not running out on their budgets. By providing clothes according to the fashion, season and style of the particular area where store is location, H.O.M will build its customer base.

3.2 Competitive Comparison

H.O.M can outweigh its competitor ZARA in the area of style as ZARA lacks style. H.O.M will be fighting its competitors on the basis of pricing strategy as the competitors such as BCBG charge high prices for their products but by keeping prices that are affordable, we plan to increase our customers. We will outweigh BEBE by providing high-quality products.

4.3.2 Distribution Patterns

H.O.M will be focusing its distribution in the three main locations of stores which are in Miami, New York and Las Vegas. Distribution will be outsourced and it will be analyzed whether the distribution company has quick access to these three vicinities from the factory of H.O.M and whether it has proper vehicle management system or not. Outsourcing distribution will help H.O.M focus on its key area of product expertise.

3.3 Sales Literature

H.O.M will use sales literature such as size charts, price lists, catalogs, brochures, Booklets, print ads, testimonials given by satisfied customers, and recommendations from fashion magazines in order to market itself among people and increase sales promotion process.

3.4 Sourcing and Fulfillment

The company will be acquiring the sourcing of its main component clothing from Indonesia where it has its factory ...