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Hi all , im new to the sight. I'm looking for a business partner and thought you might know some potential candidates. I basically need help with operations and financial responsibility of my business if I am to do wholesale, retail and produce product. I'm open to any ideas and i am very serious about the business. Below is a summary of my business and general plans. If you know anyone that mIght be a good fit, id appreciate if you could please forward this to them... See below:
Infancy, Adolescence and Maturity.
I have a 5 year old business that is ready to move from infancy (mom and pop shop) to adolescence (expansion) and eventually to maturity (structured corporation). In the adolescence stage, the business will develop, test and implement systems for the purpose of moving on to maturity. In the maturity stage, the business will have the organizational structure and the sales markets it needs to move to where it wants to be in the future with careful, steady perpetual growth.
My Background
I am a menswear designer with 15 years experience in the industry. I started my career interning with a small startup menswear company that consisted of only the founder and I. In 6 short years the company grew to a $38 million business. In that time I helped grow and nurture the company by being the primary creative force behind the brand. The knowledge and experience that I gained from being a crucial part of the evolution of a humble start up into a successful corporation is beyond value. It has equipped me with the ability to create entire collections from design through to the production stage. Since the company was a startup I was very involved, at different degrees, in all aspects of the business including marketing, sales, wholesale and retail operations. But product development is my area of expertise. Since then I have continued successfully designing in senior positions, on a full time basis for different companies.
The Business
5 years ago I opened a retail boutique in Manhattan which was to be the flag ship shop for a private label collection. Due to lack of time, recession and other factors, I have not been able to realize the original goal, so I have been buying and selling other brands in the shop, till now. I have finally started to develop private label product including apparel, accessories and footwear to sell and market through the retail shop.
The Process
The aim is to get the shop operating efficiently, with documented systems in place for all departments so that outcomes are reached uniformly, not randomly. These systems will include very specific procedures, processes and tasks that leave no room for discretion. The bigger purpose of this is to perfect the retail outlet for future mass duplication. The retail outlet is the testing ground and a prototype for many many more just like it.
Ultimate Goal
The business will be designing, producing, marketing and selling its private label products through its many retail outlets. With projected possibilities of annual sales of 10million in 5years and 50million in 10years. The speed of growth will depend on how fast the business systems are completed.
Advantages
Some unique advantages that will help tremendously include:
1) Direct outlet to market to the public. In the store's 5 year history we have built much local and international brand notoriety through promotional marketing, press coverage, celebrity endorsements, and have become a landmark in NY's hippest neighborhood. We continue to promote the brand with the same and new methods.
2) Big profit margins. By going from manufacturing cost to retail, you can double the normal markup
3) Lower inventory commitment and risk through the ability to manufacturer products at low minimums due to my long lasting relationships with manufacturers.
4) No limit to sales. Since the brand is producing its own product, it can potentially be wholesaled to no limit. Therefore the size of the business will depend on how many customers we want to and can reach.
5) My experience. I live and breathe this market and customer. I know everything about the target customer. I closely follow all competitors and am aware of their quality. I know what to do to be better than them. My design experience will produce outstanding product while my business experience will provide the way to bring it to the customer.
In addition to the retail operation, extra streams of revenue include:
1) a significant e-commerce business
2) Growth of national wholesale business to key accounts
3) Selling through international distributors in Canada, Europe, Australia and Asia
4) Licensing deals for specialty accessories products
5) The store can still buy and sell other brands that are desirable to the customer and in doing so, this is can be extra cash flow and will boost the brand image buy aligning the brand with others that have a following we want.
The partner
Must be honest, aggressive, results oriented, hungry, energetic, assertive, strong sense of urgency, financially responsible, a numbers person, does not need have any fashion or apparel background.
More specifically, he/she will be responsible for operations, and finance. The potential candidate can look at the current business and collectively we can decide how big of a push we want to move forward with and this can help determine how much cash (if any) is needed based on our future plans.
Please contact me at bigelowgreentea at g m a i l
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