Business Proposal for custom shoe store called DECO HEELS Essay

Business Proposal for custom shoe store called DECO HEELS - Essay Example Currently, women are finding it difficult to get shoes of their choice because most of the stores are offering already designed shoes (Shaw and Onkvisit, 2008). Decor Heels will have an unmatched and extensive selection of high heel shoes for women. The model of the business is based on customer selection that will allow customers design their own high heels under the brand name of Decor Heels. Customers will be required to place an order and the company will make an invitation for the design of their selected high heel shoes (Moisander and Valtonen, 2006). The business aims a creating a competitive advantage in the first six months of operation through diverse selection. This will depend on the company’s management team especially the marketing team. It is the expectation of the business to capture at least 20 percent of market share and a profitability of more than $100,000 in the first three years of operation. 1.1 Success Factors There is one main success factor and that i s the ability of the business to enhance satisfaction for high heels among women. The business will achieve this by offering a wide selection of shoes as preferred by customers. 1.2 Business Objectives The objectives of the business are based on the first three years of operation and include: Establishing a retail store based on supplying high shoes that will satisfy customer needs beyond expectations Capturing 20 percent of the market share for female shoes by the unmet need for women to design high heel shoes Establishing a retail business that will grow on its financial performance 2.0 Business Description Decor Heels is a sole proprietorship business based in New York serving the unmet demand for customized high heel female shoes. The business aims at enhancing consumer satisfaction by offering the opportunity for customers to design their own high heel shoes under our brand name Decor Heels. Customers will be submitting their shoe design and the company will be making available the desired designs within a period of two days. Basically, Decor Heels will be keeping close contact with manufacturers and suppliers to ensure that the shoes are made available at the shortest time possible. In order to improve service delivery, the company will establish a total of ten retail stores at strategic locations within New York City and depending on its performance; the business will open more outlets in other cities within the first three years of operation. 3.0 Definition of the market 3.1 Industry Analysis The market for high heels is under the general market for shoes. Decor Heels is targeting the market for high heel shoes which has few market players. The market for high heel shoes is dominated by large departmental stores with other players including shoe-only stores and small retail stores. Departmental stores mainly sell everything with shoes being among their items for sale. They do not put their focus on shoes but all their products on sale. Shoe-only stores as the name suggests specialize in selling shoes only. Small retail stores engage in the sale of female shoes and clothes (Hill, 2011). 3.2 Market Segmentation The general market for female shoes has two population segments including female professionals and housewives. Professionals are defined by their responsibility of working on a full-time basis whereas