Nkwor Chikodili Cynthia

Mummy ify stores Business plan EXECUTIVE SUMMARY EXECUTIVE SUMMARY Business Name: MUMMY IFY STORES Location: EGBEDA, LAGOS Owner: NKWOR CHIKODILI CYNTHIA Business Structure: Sole Proprietorship Mission Statement: Mummy ify stores aims to offer trendy, high-quality, and affordable clothing for women and children with an emphasis on exceptional customer service and a personalized shopping experience. OBJECTIVE Achieve a steady customer base of 500 within the first year. Reach monthly sales of N1,000,000 by the end of the second year. Maintain a customer satisfaction rate of 95% or higher. BUSINESS DESCRIPTION Industry: Retail Clothing Products: Women's casual and formal wear, accessories, and shoes. Target Market: Women aged 18-45, fashion-conscious individuals, middle to upper-middle income groups. Kiddies(1-14 years) Business Model: Brick-and-mortar store with an online shopping platform. Market analysis Market analysis Market Needs: Affordable, fashionable, and high-quality clothing with personalized customer service. Target Market: Market Trends: Increasing demand for sustainable and ethically produced fashion, rise in online shopping, and preference for unique and niche clothing items. Demographics: Women aged 18-45, urban professionals, college students, and young mothers. Kiddies(1-15years) Psychographics: Fashion-conscious, value quality and style, willing to spend on trendy and unique items. Competitive Analysis Personalized shopping experience Direct Competitors: Exclusive and unique clothing collections Local clothing boutiques High-quality customer service National chain stores Online fashion retailers Competitive Advantage Marketing plans Branding: Develop a strong brand identity through a memorable logo, tagline, and consistent visual aesthetics. Promotion: Utilize social media marketing (Instagram, Facebook, TikTok), email newsletters, and influencer partnerships. Events: Host in-store events, fashion shows, and trunk shows to attract customers. Loyalty Programs: Implement a customer loyalty program with rewards for repeat purchases. MARKETING STRATEGY Marketing plans Sales analysis In-Store: Create a welcoming and stylish store environment with knowledgeable staff. Online: Develop an easy-to-navigate e-commerce website with high-quality images and detailed product descriptions. Sales analysis.2 Store Layout: Modern and chic interior design with designated areas for different clothing categories. Suppliers: Reliable and reputable wholesalers and manufacturers. Inventory Management: Implement a robust inventory management system to track stock levels and sales trends. Staffing: Hire experienced sales associates, a store manager, and part-time staff as needed. Financial plan( Start up costs) Store Lease: N300,000 Renovations: N200,000 Inventory: N300,000 Miscellaneous: N50,000 Total Startup Costs: N850,000 Revenue projections Expense Projections: Profit Projections: Year 1: N200,000 Year 1: N1,000,000 Year 2: N150,000 Year 2: N3,000,000 Conclusion Mummy ify stores aims to become a preferred destination for fashionable women seeking trendy, high-quality clothing at affordable prices. With a focus on exceptional customer service, unique product offerings, and a strong marketing strategy, Mummy ify stores is poised for success in the competitive retail clothing market. Thanks! Contact us: Mummy ify stores Whatsapp- Call us on- Shop 8/9 Olugbede market, egbeda.Lagos state-