Personal Shopping Services Business Plan

Buy the Time will concentrate on expanding in metropolitan areas that have significant growth of young business persons and executives. Starting in Seattle, it will grow down the west coast to San Francisco and Los Angeles. From there we will target the east coast with locations in New York City, Miami, and Chicago.

The target customer is a busy business person unable to find time for purchasing custom goods. We will provide this tailored service to work around their schedules, while maintaining a low cost.

5.1 Competitive Edge

Our competitive edge lies in our expert service at a reasonable price. We will transform this service from a luxury into a demand service. We will provide a database for remembering occasions and dates, this will allow the client to remain stress-free. Buy the Time was created by an expert shopper who knows trends, prices, and details, such as fabrics and colors.

We are aware that there will be others trying to offer such a service, but only we will be able to provide such services at a low cost, with friendly consultants, and an ability to find exactly what our clients desire.

5.2 Sales Strategy

Our sales will be generated from repeat clients. This service will be established as an easy and friendly way to shop without the hassle. We will offer low introductory costs for our services. To ensure that all purchases will be worthwhile for the consultant, all of our orders will have a minimal amount required to cover any expenses incurred. This will be minimal, allowing for our services to be affordable.

Ms. Kousky has enough contacts in the Seattle area who have expressed interest in the service that no advertising will be needed for the first year of operation. Subsequent advertising (which may not start until year four or five) will depend on word-of-mouth, a website, telephone directory ads, local newspaper ads and articles, and brochures.

5.2.1 Sales Forecast

The following chart and table document forecasted sales.

In both April and May we expect a two percent growth each month. From June to September, each month should reflect a growth of five percent, since many activities occur during the summer months. October will show approximately four percent, since this is usually a time of transitions. November and December will show an increase to seven percent, with many people buying for the holidays. January through April will be an increase of one percent each month, since this is a slow retail period.

This will result in a growth of 68% after the first year. From that, sales in 2002 will see a growth of 57% as we develop our team of consultants. By 2003, sales will show a 78% growth. By the end of the third year, we will be able to move into markets outside the Seattle area.