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Term Paper of Retail Management ON (Retail Store Business Plan in Chandhigarh)

The document is a business plan for opening a retail clothing store called "Teenanza" in Chandigarh, India. It discusses choosing Chandigarh as the location due to its large population of students and residents. The store will sell men's and women's casual clothing and accessories. Marketing will involve banners, pamphlets and newspaper ads targeting nearby colleges and universities. The operational plan covers suppliers, inventory management, hiring of skilled, semi-skilled and unskilled labor. The financial plan includes owning capital of Rs. 10,00,000 and borrowing additional funds through short-term bank loans.

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153 views

Term Paper of Retail Management ON (Retail Store Business Plan in Chandhigarh)

The document is a business plan for opening a retail clothing store called "Teenanza" in Chandigarh, India. It discusses choosing Chandigarh as the location due to its large population of students and residents. The store will sell men's and women's casual clothing and accessories. Marketing will involve banners, pamphlets and newspaper ads targeting nearby colleges and universities. The operational plan covers suppliers, inventory management, hiring of skilled, semi-skilled and unskilled labor. The financial plan includes owning capital of Rs. 10,00,000 and borrowing additional funds through short-term bank loans.

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10805997
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© Attribution Non-Commercial (BY-NC)
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You are on page 1/ 13

TERM PAPER OF RETAIL MANAGEMENT

ON

(RETAIL STORE BUSINESS PLAN IN


CHANDHIGARH)

Submitted to Lovely Professional University

Submitted by: Supervisor:

GURTINDER SINGH Mr. Pnakaj

RQ1808 B34 LECTURAR

BBA (HONS) MBA (LHSB)

10806005

DEPARTMENT OF MANAGEMENT

LOVELY PROFESSIONAL UNIVERSITY

PHAGWARA

(2010)
Introduction
Retail store: A Retail Store is a store offering goods and
services to its final consumers for their personal or
household use.

The Retail Store I have decided to open is offering


assortment in clothes of men and women casual wear.
General description
I have chosen CHANDIGARH city to open my retail
store “TEENANZA” because:
• CHANDIGARH is the most developed city in and
having maximum footfall in stores of people from
within the city and also from nearby cities.
• And moreover it has students studying in the city and
also nearby the city.
• “Punjab University” alone holds a very huge strength
of around 25,000-30,000 students and most of them
shop in CHANDIGARH city only.
Every business has the Aim of earning profits and
providing convenient shopping this can only be met
keeping in mind a suitable location for the store, the taste
and preferences of the customers and their spending
power. It is

Vision: To be the store that best understands and


satisfies the product, service and self-fulfillment needs of
youngsters & teenagers.

Mission: "To give ordinary people the chance to buy


the same thing as rich people."
My store will cater to the youngster & teenage boys and
girls exclusively.

Business philosophy
The business philosophy of my store is customer-
focused, responsive to customers need, balanced by the
value and quality that guides our decision-making.
We value our customers and will always adopt with the
changes in their preferences and also of the dynamic
fashion cycle.

Goals and objectives


The goals of my retail store are:
1. To improve efficiency and productivity.
2. To achieve and maintain superior customer service.
The Objectives of my retail store are:
1. To have higher product quality than the rivals.
2. To provide superior customer service.

PRODUCT & SERVICES


The products of the company are designed keeping in
mind the taste & preferences of the customers and culture
of the people in CHANDIGARH
The assortment in men’s wear will cater:
• T-shirts
• Shirts
• Denims
The assortment in women’s wear will cater:
• Tops
• Shirts, T-shirts
• Kurti
• Denims

• Footwear
• Accessories
We will also offer some accessories such as belts,
watches, wristbands, earrings

In Addition, The strategy will be a value-based pricing


structure, which will measure the value of our products to
customers such as easy access, quality, customer service
and styles flattering to the target customers.
End of season sales, holiday and overstock sales, multi-
buy savings and promotional coupons will be
implemented.

Marketing Plan:
Clothing business is a evergreen business.
In marketing plan to advertise my retail store
‘TEENANZA’ I will be using four types of promotional
tool:
• Hoardings,
• Banners,
• Pamphlets and
• Newspaper advertisements.
Hoardings will be put up in areas that are popular and
have maximum teenage and college going students.
As there are universities and college nearby and inside
the city, many of the students reside within or nearby
areas of the MODEL TOWN MARKET Next to ‘NO
EXIT STORE’, where I have decided to locate my store.
The Locations I have selected for hoardings are:
Near Sunny Enclave, Mohali ,
Banners will be put up in the Model town main market
for assistance to be more approachable and easily
accessible to the people.
Pamphlets will be distributed in the first month of
opening of the store where a person will be given a task
to give pamphlets to the passersby in the market.
Newspaper Advertisement will be done in the most
purchased newspaper catering to the main cities of
CHANDIGARH
All the above tools will be used for advertising my Retail
Store and as far as I think it will be sufficient as my Store
will be located in the hub/heart of the city, which has
maximum footfall for shopping from the neighboring
areas, and cities.

Operational plan:
Operational plan includes all the activities that are
involved in operating the business like material suppliers,
inventory, labor, location, lease, maintenance etc.
It will answer to the questions like:
1. Who is doing what?
2. Who are the suppliers of raw material?
3. What are the labour requirements?
4. What are the day-to-day activities?
And many more.
• In the operational plan made we will have supplier
from Delhi where we will be getting nice and trendy
wear from the suppliers, as finished goods which
only needs to be sold.
• I will keep my inventory updated by using the
automated replenishment system which indicates the
stock that has to be replenished.
• Labour that are required will include unskilled, semi-
skilled and few skilled labour.
Unskilled labour will cater to the needs of the staff and
the customers for serving them water and refreshments.
Semi-Skilled labour for assisting the customers in
choosing the product.
Skilled labour to be present at the reception point for
help and for maintaining the records and for billing.
The total staff will include unskilled-3 persons, semi-
skilled-5-8 persons and skilled-2-4 persons.
Location I have already taken i.e. in model town market
next to NO EXIT.
It is a main street location that I have taken up keeping in
mind the points I have mention before (top).
The Retail store will be taken on lease/rent as it is one of
the most expensive area in CHANDIGARH.
• Proper maintenance of the store will be done.
Includes the cost of water, electricity, travelling
expenses and other operational costs.

Financial plan
Under the Financial plan we take into consideration that
how we can arrange our finance excluding the owned
capital.
The sources of Finance can be:
• Short term sources
• Long term sources

Short term sources of finance are:


⋅ Indigenous bankers
⋅ Trade credit
⋅ Factoring
⋅ Advances
Long term sources of finance are:
⋅ Long term loans
⋅ Equity share capital
The owned capital Investment will be of Rs. 10, 00,000/-
Further the amount needed for carrying on smooth day-
to-day operations and for other activities we would
borrow money from commercial banks and from the peer
group on interest rate as a loan to be paid in installment.
• The assets of my store include:
Cash, Inventory, and Furniture & Fixtures.
• The liabilities of my store include:
Loan from commercial banks and loans from peers at
interest.

Assets:
Fixed assets
Land and building, fixtures, fittings, equipment and
assets in course of construction.

Current assets
Stock, debtors, cash at bank and in hand.

Liabilities
Creditors, provision for liabilities and charges
and loans.

REFERENCES :-

 Kotler, P. (2006) Marketing Management, 12th Ed. New Delhi: Pearson Publishers Ltd.,
pp. 1-23.

 Roshan, P. & Leary, J. (2003) Retail in India. Sebastopol, CA: Cisco Press

[available at: http://proquest.safaribooksonline.com/1587050773 viewed on


11/03/2008]

 Reliance Fresh vs more Final

[available at : http://www.slideshare.net/akhi_goyal/reliance-fresh-vs-more-
final/viewed on 01/04/2010]

 Reliance Fresh- A Case of Channel Management

[available at: http://www.scribd.com/doc/27051208/Channel-Management-


Reliance-Fresh-Block-5-Ch-21/viewed on 21/03/2010]

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