Sports Memorabilia Business Plan

Strategy and Implementation Summary

Jerseys will leverage its competitive edge of a superior and constantly changing selection to lure customers and keep them coming back to check on changes in inventory. Sales will be generated through a combination of a multi-pronged marketing strategy that will drive sales from both targeted market segments.

5.1 Competitive Edge

Jerseys R Us enjoys a two-pronged competitive edge with its inventory:

• A large inventory to keep everyone happy and interested.
• A constantly revolving inventory which creates incentives for customers to check back often for new products.

This competitive edge will be maintained through Jerseys' excellent procurement system that relies on personal contacts as well as excellent eBay skills. Please view the management section for a more in-depth explanation of Phil's networking contacts.

5.2 Marketing Strategy

Jerseys will have a marketing strategy that will address both market segments, the children and the adults.

• Advertisements. Placement of ads will be in several different sources, some tailored to adult readers, and a few tailored to children. The ads will be used to develop awareness for Jerseys as an excellent source of famous sport jerseys.
• Sponsorship. Jerseys will sponsor several little league sport leagues as a way of introducing itself to the youngsters.
• Location. The location was chosen to provide a high number of walk-by traffic, so by virtue of the high foot traffic, location is an element of the market plan.

5.3 Sales Strategy

The sales strategy will be geared at displaying the wide variety of jerseys and the constant turnover of inventory encouraging frequent visits by customers. Another sales technique that Jerseys will practice is the willingness to take requests from customers and look for their preferences. This should drive sales as most competitors will not look out for items that the customers may want. Typically, most stores will only purchase what they think will sell without truly soliciting customer input. Not only will this approach drive short term sales by securing the items that customers desire, it will also propel long-term sales by creating loyal customers.

5.3.1 Sales Forecast

The sales forecast indicates that because Jerseys is the purchase of an existing business, sales growth will be small but incremental. Growth within the first couple of months is not expected to be much due to the somewhat slow transition from old business to new business. Once old customers become more familiar with the new owners and new customers become aware of Jerseys, the incremental monthly increase in sales should rise.

5.4 Milestones

• Completion of business plan.
• 100th new customer.
• First month of serious growth.
• Sustainable profit.