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Business plan online store of bow ties

Стоимость: 25 000 руб
  • 105
  • Английский
  • 06.02.2015
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Adaptation of this business plan is possible for similar project around the world.

Idea of the project

The project is focused on the opening of online store of trendy accessories – bow-ties as the core production, ties and pocket square as additional categories – for young and stylish men and women, which would like to stand out from the crowd and emphasize their individuality.  The project is based not on mass production, but on handmade bow-ties and custom tailoring. It would be difficult to find two identical items, because the amount of produced bow-ties of the same article will not exceed 20 units on the average.  That’s why the products offered in online store in some way can be called exclusive.

Specificity of the project

Registration of online store requires the purchase of a domain.

Possible addresses of the website: tie-intelligent.ru, tie-intelligent.su, tie-intelligent.com.ru, tie-intelligent.net.ru tie-intelligent.org.ru, tie-intelligent.ru.net.

Features of online stores comprise:

  • round-the-clock working without days off and breaks;
  • no binding to the certain premises;
  • relatively low staff costs;
  • possibility of goods demonstration on a single «showcase»;
  • possibility of demonstration of expected items;
  • possibility to focus on a specific audience;
  • accessibility from any geographical point.

Geography of the project

Moscow and Moscow Region.

Audience of the project

The Russians living in Moscow and Moscow Region, men and women aged 20-35 years (the core target audience).

Competitive environment

Online stores of design bow-ties and handmade bow-ties:

  • the «Bow Tie People» online store: http://www.btpeople.ru;
  • «UNIQUE HANDMADE ACCESSORIES BY LEYSAN ZIGANSHINA»: http://byziganshina.ru;
  • the «Kot Babochkin» online store: http://www.kotbabochkin.com;
  • the «Danko» online store: http://danko-bow.ru;
  • the «Letter J» online store: http://galstuki-babochki.ru.

Online stores of factory bow-ties:

Financial indicators of the project

Indicator

Unit

Value

Necessary investment

RUB

618,862

NPV

RUB

***

IRR

%

***

Payback period

years

1.47

Discounted payback period

years

1.57

 

Excerpts from Research

The articles especially for male costume as well as exclusively female models will be represented on pages of the website. However, most of the bow-ties will belong to universal, i. e., that can be adapted both to male and female attire. Also buyers will have an opportunity to purchase the bow-ties for children and adolescents to complete their festive image.

The goods offered in online store are absolutely handmade, that’s why the price will be higher than price of factory bow-ties, but significantly lower than for the design products; natural tissues will be selected for sewing; due to the mentioned factors, production will belong to middle price segment and be acceptable for middle-earning population.

***

Most of the largest online projects purely on sales of bow-ties started its activity in 2012. By the results of 2013, on a wave of fashionable trends, the growth of demand for bow-ties in various producers has amounted to 50-100%. However, according to the previous calculations, due to the increase of players’ amount in 2014, this indicator has already amounted to no more than 25-30%. With increasing competition, the players expend the range or offer even more niche product.

Every project (according to the data of market players themselves) sells on the average from ** to *** bow-ties per month, so payback period can be few months.

Demand for products is seasonal, in pre-holidays the amount of sols accessories can increase in six-eight times, in summer – decrease in comparison with annual average indicator.

Herewith, the production of many players is positioned as handmade varying degrees of exclusivity (from 1-2 to 10 exemplars of the same article). It should be mentioned that the bow-ties of Russian production as well as cheap products from Asian countries are represented on the market.

Entrepreneurs of this niche consider the bow-tie production as start for their business. They plan to produce several groups of goods in the future and even combine the related businesses, while keeping the main name and developing so-called umbrella brand.

An overwhelming majority of market participants already has commodity items, which are consimilar to bow-ties. They are: ties, suspenders, shawls,   bracelets, leather accessories with inlays of wood, which account for 50% of sales (the second half is formed by the bow-ties themselves). Many producers launch a line of women's accessories, such as stand-up collars and collars embroidered with stones.

Production of bow-tie producers is usually bought by young people aged 25-35 years (about **% of buyers), up to 25 (about **%) and over 35 (**%). About **% of purchases are made by girls (because exactly they are engaged in shopping in the main), but only **% of the total number of buyers are accounted for girls, who purchase an accessories for themselves.

In Moscow 8.35 mln inhabitants approximately are the Internet users, in Moscow Region – 3.09 mln; the share of those, who purchase the clothing, shoes and accessories online is 34.2%. Buyers aged 20-35 years account for 60% of the total number in the fashion segment. Thus, the potential number of audience is amounted to *** people.

Entrepreneurs call social media and the Internet advertising as the main communication and promotion channel, but players do not neglect an offline presentation of their products, for example, supply the anchorpersons of popular TV-channels with accessories or conduct the theme parties.

List of Tables, Diagrams and Figures

4

Executive Summary

6

  1. Project Description

8

1.1. Topicality of Chosen segment

8

1.2. Idea and Essence of the Project

9

1.3. Audience of the Project

12

1.4. Assortment of Production

12

  1. Market Analysis

13

2.1. Development of Clothing and Shoes Retail in Russia

13

2.2. General Tendencies of Russian Accessories Market

15

2.3. Development of Tie and Bow-Tie Segment in Russia

16

2.4. Development of Retail in the Internet Environment

18

2.5. Features of Online Sales of Clothing, Shoes and Accessories in Russia

21

2.6. Fashion Trends as a Base of Accessories Assortment Formation for  Online Store

23

2.7. Targets Audience of the Project and Criteria of Its Choice

23

2.8. Number of Potential Buyers

26

2.9. Influence of Information Environment at Making a Purchase

26

  1. Competitive Environment

28

3.1. Online Bow Ties Stores

28

3.2. Alternative Payment Methods

38

3.3. Strategic Canvas of the «Intelligent» Online Store

39

  1. Marketing Plan

44

4.1. Usability of a Website

44

4.2. Search Engine Optimization

44

4.3. Contextual Advertising

47

4.4. Social Media Marketing

48

  1. Organizational Plan

49

5.1. Features of Organizations of Online Store’s Work

49

5.2. Courier Delivery of Goods

51

5.3. Project Personnel

53

5.4. Sequence of the Project Implementation

53

  1. Financial Plan

55

6.1. Assumption of the Project

55

6.2. Seasonality of the Project

55

6.3. Sales Volume

56

6.4. Revenue

58

6.5. Personnel of the Project

59

6.6. Costs

61

6.7. Taxes

65

6.8. Investment of the Project

67

6.9. Capital Investment of the Project

68

6.10. Profit and Loss Statement

69

6.11. Calculation of Discount Rate by WACC Method

72

6.12. Cash Flow Statement

83

6.13. Cash Flows

85

6.14. Main Indicators of Financial Efficiency of the Project

85

  1. Sensitivity Analysis

88

Appendix 1. Ratio of Commodity Categories Bought in Online Stores

94

Appendix 2. Distribution of Online Stores by Criteria of Turnover and Order Number per Day

95

Appendix 3. Turnover of Online Stores by Categories

96

Appendix 4. List of Key Requests by the Project Topics (Statistics in Moscow and Moscow Region)

97

INFORMATION ABOUT THE «VTSConsulting» COMPANY

105

Tables

Table 1. The ТОП Most Popular Hosting Providers in Runet

10

Table 2. Advantages of Online Store

11

Table 3. Commodity Categories in the «Intelligent» Online Store

12

Table 4. Methods of Payment for Online Orders

25

Table 5. Number of Potential Buyers

26

Table 6. Online Stores Selling the Handmade Bow-Ties

28

Table 7. Online Stores Selling the Factory Bow-Ties

32

Table 8. The «Robocassa» Service of Payment Acceptance

38

Table 9. The «Destroy-Decrease-Increase-Create» Grid

42

Table 10. Functional of Work Automation Program

50

Table 11. Cost of Courier Services

51

Table 12. Courier Delivery Services of Moscow

51

Table 13. Project Personnel

53

Table 14. Plan of the Project Implementation

53

Table 15. Calculation of Long-Term Profits over CAPM for Portfolios of Decimal Groups NYSE/AMEX/NASDAQ

77

Table 16. Algorithm of  Risk Determination for Estimated Company

78

Table 17. Algorithm of Specific Risk Premium Calculation

79

Table 18. Calculation of Discount Rate by WACC Method

81

Table 19. Main Financial Indicators of the Project

87

Diagrams

Diagram 1. Segmentation in Clothing Retail Sector

14

Diagram 2. Share of E-Commerce in Retail Turnover of Russian Federation, %

19

Diagram 3. Number of Stores Working in B2C Segment of Russian E-Commerce, thsd units

19

Diagram 4. Comparison of Online Purchases Frequency in Russia in 2012-2013

20

Diagram 5. Buyers’ Experience in the Internet Environment

20

Diagram 6. Structure of Fashion Retail

22

Diagram 7. Sales Volume by Segments of Fashion Retail

22

Diagram 8. Distribution of Online Buyers in Fashion segment by Sex and Age

24

Diagram 9. Chosen Information Sources at Decision-Making on Purchase

27

Diagram 10. Ratio of Commodity Categories Bought in Online Stores

94

Diagram 11. Ratio of Online Stores by Categories

95

Diagram 12. Comparison of Turnover of Online Stores by Commodity Categories

96

Charts

Chart 1. Dynamics of Spending on Clothes in Russia in 2003-2013, %

13

Chart 2. Dynamics of Clothing Sales in Russian Federation in 2008-2013

14

Chart 3. Strategic Canvas of the «Intelligent» Project

43

Figures

Figure 1. Module of Order Processing

50