Thrift shop business plan template
Get inspiration from our thrift shop business plan template.
Not accustomed to writing business plans? Our leather goods shop business template will turn a typically challenging process into a total breeze.
Modelled on a complete business plan of a leather goods shop in Normandy, our template features both the financial forecast and the written part that presents the project, its team, the local market and the business strategy implemented by the management.
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This template includes a complete business plan, with a financial forecast and the following sections:
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Maroquinerie Venoir will be a boutique located in Caen that exclusively sells leather bags and accessories.
Besides specialising in leather, we will also sell suitcases in fabric, plastic, travel bags (available in both fabric and leather) and backpacks from a variety of different brands.
Maroquinerie Venoir will be located on Rue Neuve Saint-Jean, in the heart of downtown Caen, close to several men's and women's ready to wear clothing stores, shoe shops, convenience stores and Place Saint-Pierre.
Our leather goods shop is a limited company with a share capital of €10,000. It will be managed by its two partners, Pauline C. and Claire V. Each of them will hold 50% of the shares of the company.
The partners benefit from having professional backgrounds that will help them set up and operate the business with confidence.
Pauline C. holds a degree in Business Management from the IAE of Caen. She has 10 years of experience in the ready to wear sector as an executive assistant and manager.
Claire V. graduated with a Management degree from the University of Caen. Claire worked as an administrative manager in a local painting company for 4 years, forging her solid managerial experience.
The two partners met when they were students, so know each other very well.
The French leather goods industry is currently worth over €3 billion (2018), having experienced an annual growth rate of 8.5% from 2010-2018.
According to a 2017 report by the National Leather Council, France is the 3rd largest leather exporting country in the world, behind the United States and Australia.
The French leather goods industry employs people in 449 companies across the nation - with production occurring predominantly in and around Paris. A 2018 Conseil National du Cuir report also found that as many as 11,055,040 handbags are produced each year.
Designer handbags with their chic, Parisian style are still widely popular - with such bags taking up 50% of sales for all French luxury products in 2017. Among them, brands such as Hermès, Chanel and Louis Vuitton account for 80% of annual luxury leather goods sales.
According to modelab.fr and the McKinsey report, the market has undergone major changes since the financial crash of 2008 and it's expected that a growing demand for eco-friendly practices will expand the market as consumers take a conscious step back from harmful mass consumption.
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The annual clothes budget of a French person in 2017 was around €1,230 for clothing and €330 for shoes. The MECO website also indicates that in 2015, a household's expenditure on fashion accessories came to €133 per year.
According to the E. Leclerc Observatory, economic restraints and a growing awareness of the detrimental impact of fast fashion means French consumers are increasingly seeking out clothes at lower prices, as well as places in which they can purchase second-hand fashion.
Rather than just waiting for Christmas or summer sales, people are now looking for reduced prices all year round and the opportunity to buy designer products at private sales.
Although the industry is being pulled by the ethical fashion trend, it's important to note that only 20% of consumers said they'd opt for ethical fashion in 2018.
The advantage of the city centre of Caen and its various streets is that it's very easy to walk around.
The Saint Pierre/Rue de Bras and Saint Pierre/Belivet areas attract shoppers on the lookout for clothes and accessories. The handy transport links (either tram or bus) to these areas also means a regular flow of people coming in from the outskirts of Caen.
In 2016, 14% of all French luxury boutique openings occurred in Caen. Although Caen has a modest population of 108,000 (and can't quite compete with the notoriety of Faubourg St-Honoré) it still has an abundance of high-end boutiques, most of which are in the city centre.
Between department stores (such as Printemps or Galaries Lafayette), independent boutiques (including Arthur and Aston and Longchamp) and leather goods retailers, Caen is held in high-esteem by leather enthusiasts for its extensive offering of leather products.
According to a 2018 Pôle Emploi Normandie report, of the 315,634 strong workforce in Calvados, 6.9% are in senior or managerial roles - with journaldunet.com estimating the average monthly salary of such a position to be around €4,049.
As the median income (and, therefore, standard of living) within Caen is considerably higher than the national average, the launch of a new leather goods shop will be viewed by many local residents as an exciting opportunity to purchase new kinds of leather goods.
We believe that our choice to specialise in leather goods and offer premium products will attract high-earning customers that shop downtown for good-quality accessories such as bags and wallets.
The expertise of our salespeople will play a huge part in encouraging sales. Our close proximity to other off-the-rack clothes shops and shoe stores will place us in the direct path of shoppers, who may be looking for a leather bag or belt to complement their other purchases.
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We will be in direct competition with the major independent retailers and leather goods stores in downtown Caen.
We have identified 3 main competitiors located in the rue Nueve Saint-Jean:
A typical shopper likes to visit a few different shops before settling on his or her ultimate purchase. We therefore view the presence of nearby competitors as beneficial in that it draws more shoppers into the area.
Using the wide range and high-quality of our products, as well as the expertise of our sales staff, we'll offer a specialised shopping experience that other merchants cannot.
Our indirect competition includes the off-the-rack stores of downtown Caen. Because off-the-rack stores generally don't offer luxury leather goods, however, competition is limited.
We will also compete indirectly with online retailers, particularly private sales sites. A desire on the part of customers to actually see and try the products in-person before purchasing them, however, places us a cut above these sites - as we have the ability to use our expertise to advise customers and respond to their queries instantly.
We expect to be profitable in our first year of activity with sales of €249,445 and EBITDA of €4,263 (or 1.71% of margin) in year 1.
Thereafter, we expect to continue to grow our business to reach €272,050 in sales and €13,997 in EBITDA (or 5.14% of margin) in year 3.
We anticipate positive cash generation over the plan as a whole, and the company should be sufficiently capitalized to be able to meet its loan repayments while maintaining sufficient headroom to deal with contingencies.
The opening of our leather goods shop will require an initial investment of €70,000.
The partners have planned to contribute €40,000, i.e. 57% of the total, with a share capital contribution of €10,000 and a director loan of €30,000.
We would like to obtain a loan of €30,000 to finance the remaining amount.
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