Bridal Gown Shop Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Bridal Gown Shop Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Bridal Gown Shop business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be available for download after your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready!
- Complete Industry Research
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PDF Format
- Meets SBA Requirements
Bridal gown shops are one of the few retailing businesses that tend to have their revenues remain stable even times of economic recession. This is due to the fact that people are going to continue to get married, even during deleterious economic conditions, and as such the purchase of a wedding dress is part and parcel for this type of celebration. One of the ways that bridal gown shops will always be able to generate revenues by offering a number of different gowns that are affordable for any different price bracket. Even when the economy goes through difficult. Women may seek to acquire a bridal gown that is slightly less expensive than they originally had planned for. As such, these businesses are able to generally moderate to high gross margins from the sale of final gown apparel as well as bridesmaids dresses. Typically, the gross profits generated a sale range anywhere from 50% to 60% of the sales price. For more high-end dresses the gross margins tend to be on the higher side. The startup costs associated with the new bridal gown shop typically ranges anywhere from $100,000 to $200,000 depending on how much inventory will be carried at the onset of operations. Also, these startup costs can vary depending on the size of the market in which the bridal gown shop is going to be opening.
Given that this is a retail business that is somewhat immune from a negative change in the economy, most financial institutions and private investors do have an interest with placing capital with these types of businesses. Most importantly, a bridal gown shop business plan is going to be required if an entrepreneur is looking for a loan or a private investment. This business plan should include a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. Most importantly, a thorough examination of the local and regional markets demographics should be included as well. This includes an examination of median household income, median family income, population size, population density, and the percentage of women that is between the ages of 20 to 40. It is important that a thorough examination of the number of weddings occurring is also examined within the market. The business plan, it should be discussed how the company will generate traffic to its retail location. Usually, many of these businesses will seek to develop relationships with wedding planners, event planners, caterers, and related entities for referrals to the bridal gown shop. At the onset of operations this can be an invaluable source of referral traffic. Also to be included in the business plan should be a discussion regarding how the bridal gown shop will maintain and massive online presence in order to ensure that people can find the company within a 100 mile radius. Given the unique nature of the products sold at the stores, the target market radius for bridal gown shop can go as high as 100 miles. This is especially true if the bridal gown shop developed a very strong brand name for the quality of the work and clothing offered by the business.
A bridal gown shop marketing plan should also be developed. This marketing plan should discuss how the business will maintain relationships with wedding related entities as well as through a massive online, print, radio, and experimental marketing campaign. As it relates to print marketing, many bridal gown shops will maintain advertisements in circulars that focus on people that are getting married. There are also a number of online periodicals as well as magazines that are geared specifically towards people that are getting married. As such, it is imperative that the bridal gown shop please advertisements within these periodicals. An online presence is now mandatory for any bridal gown shop and this website should showcase the store, hours of operation, brands of bridal gowns carried, and related information to the business. As discussed above, many bridal gown shops websites also feature e-commerce capabilities so that certain items can be purchased directly from the store without having to visit the retail location. A presence on social media is also imperative for these types of businesses as many brides to be an bridesmaids will look online for recommendations up to where they can get this type of apparel. Additionally, a presence on platforms such as FaceBook, Twitter, Instagram for photos, and Google+ will ensure a substantial boost in the visibility of the bridal gown shops brand name. While the cost of developing a strong online presence is expensive – the return on investment can be substantial after this investment is made over one year. Some bridal gown shops will take to hiring a third-party social media consultant to manage their online profiles so that this can be done with minimal lead-time.
A bridal gown shop SWOT analysis should be produced as well. As it relates to strengths, a bridal gown shop is a was always able to generate revenues even during times of economic recession. The barriers to entry are considered to be moderate, the gross margins are moderate, and startup costs are considered to be reasonable. For weaknesses, bridal gown shops are going to have to compete with larger retailers that offer these types of apparel as part of their general offerings. However, many brides will focus specifically on working with an independent retailer rather than a large store. For opportunities, this can simply involve the development of additional locations within the companies effective market radius. Additionally, large-scale marketing campaigns can increase the amount of people coming to the store and thus the inventory turnover. There are no known threats at this time it would impact the way that a bridal gown shop conducts its operations.
The business of retailing apparel is risky, while gown shops operate in a more secure aspect of the this industry. As such, this type of retail apparel retailing operation can be considered to be moderate risk form of a for a small business investment. The owner operator should have a substantial amount of experience as it relates to working with brides, as well as having extensive experience only in operating a retail facility.