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The Man Store Essay

2388 words - 10 pages

The Man Store

We have put our heads together and come up with a store idea and strategy that we believe has the opportunity to grow and thrive. The idea is totally unique, not only to San Angelo, but to most of the country as well. We will look at several factors vital to setting up the store as effectively as possible. The parts we will focus on include the following: situation analysis, objectives, identifying customers, competitive advantages, the overall strategy. We will also define and consider the uncontrollable factors that effect any retail company.

Situation Analysis

Mission Statement:
Our goal is to provide our target market with a unique, relaxed, and enjoyable shopping experience, while at the same time providing quality men's wear at reasonable prices. We will provide a large selection including casual, career, and formal clothing lines. At The Man Store you're guaranteed to find what you are looking for, or we can get it for you. Service will be a top priority not only to our customers, but to the community as well. We place the utmost importance on maintaining high values and ethical standards and behaviors.

Ownership/Management

The two men we are assisting in a start-up retail plan are very excited about forming a corporation, however making a good ownership decision is an essential part of the situation analysis and should not be rushed into. We will discuss the men in more depth later. Many factors into account when deciding the most appropriate structure. At first The Man Store will only operate in San Angelo so we decided that turning the store into a corporation owned by stockholders would not be a wise decision financially. Another reason a corporation would not be in their best interest is the danger of a more powerful company buying them out. We did not want to deal with all of the government policies and restrictions that accompany incorporation.
It was decided that the only sensible ownership structure was a partnership. The benefits, profits, risks, losses will be shared equally by both owners. The only drawback considered was the possibility of arising feuds do to liabilities and non-partisan decisions, however both men are sensible businessmen who have grown up and worked well together for years. Another attraction to a partnership structure was the single taxation, which is not always the case with a corporation. Since both men possess a high level of business and retail savvy they will also manage their store. The men want to be as involved as possible in the operations of their store, and hiring a professional management team would substantially raise costs.

Goods & Services:

The Man Store is a classified as an apparel group, which is a type of non-durable goods store. The men who had a dream of owning their own business realized quickly that a men's clothing store would best suit their desires and abilities.

Fred Rubble and Barnie Jetson are from...

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