The Ask
The ask was to create a viable business plan based around a product or service, along with doing a Shark Tank simulation with critics. During this simulation we asked for $100,000 to open our boutique.
I was tasked with setting up the document to put all our information in, finding our personnel & Advisory Board, Industry overview, Operations Plan, Helping with the Financial Plan, Customer Location ,Customer Board, Personal Financials, and our Weekly Sales Coverage Chart.
My Role
Process
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Who is RetroRevamp?
We at retrorevamp are a forward-thinking fashion brand dedicated to bringing upcycled, and ethically sourced goods to the Richmond area and beyond. Our mission is rooted in the desire to reduce textile waste while supporting local artists and craftsmen. Through our curated collections of highly refined, handmade apparel, we aim to deliver both high-quality fashion and a nostalgic experience for our customers. Retro Revamp specializes in upcycled, ethically sourced apparel that combines high-quality craftsmanship with nostalgic design. Our curated collections offer one-of-a-kind pieces that reduce textile waste and promote conscious fashion choices. Rooted in values of refinery, durability, and creativity, Retro Revamp delivers timeless fashion that’s both meaningful and forward-thinking, encouraging customers to embrace style with purpose.
Research
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Used customer surveys and simply analytics to gain information on our customers demographic. Along with looking at the customers in the surrounding area showed with our building.
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Did research on the second hand/upcycled industry and saw that its steadily rising using Statista, Mckinsey & Company, and IBIS World to get more information.
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Through research on who our customer is we found Upcycled designers who would fit into this category well. With our boutique falling under the creator archetype and our customer looking for unique pieces.
Financials
With my team we completed financials for our First Years Sales Plan, Fixed cost-Year 1, Sales and Growth profit, Breakeven Analysis, Monthly sales plan, Pre- Opening Capital Spending Plan, Profit and Loss Statement, Opening Inventory Plan, and Cash Flow Forecast.
