Dress Shop Essay Example

the project's description, target market, optimal opening time, location, and competitive strategy. It also involves analyzing demand and supply as important criteria.

The financial aspect of the project is crucial in assessing its feasibility, profitability, and achievability.

Highlights Of The Project History

We have developed a business that will greatly appeal to our target audience - young girls who dream of their ideal wedding gown for their big day. This venture not only caters to the requirements of soon-to-be married couples but also fulfills their aspirations for an exceptional and unforgettable wedding. It has built a strong, distinctive, and exclusive brand known for its outstanding quality and service, leading to substantial profits.

This is an amazing business that focuses on providing bridal gowns for all types of weddings. It offers a unique chance to own a profitable venture in the high-end industry while also embracing a fashionable lifestyle. The opportunity includes a comprehensive inventory of designer wedding gowns and accessories such as jewelry, tiaras, stationery, and gifts – ideal for elevating any wedding reception. Moreover, there is potential for additional purchases. Taking ownership of and growing this dynamic business is an exceptional undertaking that presents an incredible opportunity for someone prepared to immerse themselves in its already remarkable success.

The wedding gown industry is a highly profitable business opportunity with significant potential globally, nationally, and locally. Currently, extensive research is being conducted to evaluate its market position upon entering the industry. This sector includes several smaller enterprises such as caterers, wedding consultants, dressmakers, beauty suppliers (hair and makeup), photographers, suppliers of favors and bridesmaids gifts, musicians, and providers of honeymoon-related services. Despite the overall profitability of this industry,

each individual sector varies in size with some being smaller than others. These composite suppliers typically operate at a local level and are often privately-owned small businesses.

Mode of Financing:

The dress shop, Wedlock Trends, will be established using funds contributed by four individuals who will be the owners. Each of them will contribute P625,000, resulting in a total of P2,500,000.00. Utilizing cash contributions is preferred over obtaining bank loans due to lower risk and interest costs, ultimately leading to higher income.

Investment Cost:

The investment cost for this project is P2,500,000.00.

The proponents have agreed to enter into a partnership in which four (4) individuals pool their resources to contribute to the capitalization of Wedlock Trends, with the intention of splitting the profits among themselves.

Below are the major assumptions, summary of findings, and conclusion:

Market Feasibility

In our Market Study, we identify our customers, suppliers, and competitors. We also estimate the demand we expect to gain in the coming years. Our analysis reveals that there will be a lower number of demands in the first year because Wedlock Trends is new to the market and customers are not yet familiar with our business. However, we anticipate an increase in demand in subsequent years thanks to our marketing program. This program includes printing flyers, posters,and streamers to raise awareness among customers about our business.

Technical Feasibility

Wedlock Trends specializes in creating wedding gowns,barrings,tuxedos,and cocktail dresses. We provide both ready-made dresses as well as made-to-order and customizable clothing options.

The market has a high supply of companies offering such equipment. In terms of financial feasibility, the Wedlock Trend Dress Shoppe's income statement indicates an annual increase in cash flows, including profit, salary, and capital, which indicates

a profitable business. The balance sheet also shows an increase in total assets and total liabilities, indicating a well-balanced financial situation. The profit ratio, as indicated by ratio analysis, has an average of 41.

With a profit of 26% (.43), the capital of the business can be recovered within 2 years (2.21). The increasing number of Wedding dress shops in Metro Davao is beneficial as it fosters competition, leading to innovation, better products, and improved service.

These industries will have a significant impact on the economy and provide employment opportunities for job seekers. The feasibility of managing the business depends on its four partners, who are also the owners. The manager is responsible for sales, manufacturing, and service operations.

The manager will be paid minimum wage, while the other employees will earn less than minimum wage.

Market study

Clothing is used as a way to visually express social and emotional needs. It also effectively displays people's social aspirations in different cultures and styles. Fashion has gone through significant changes and unconventional extremes throughout history, providing numerous examples of clothing made for various events, particularly weddings.

The availability of wedding dresses in the Philippines is influenced by factors such as culture, geography, purchasing power, Western influence, and ethnic diversity. It is crucial to choose concepts that can create designs appropriate for Filipino fashion. These designs should be both conservative and fashionable. We aim to create a wedding dress store that caters to everyone by providing high-quality products at affordable prices, making sure that couples' special day is truly exceptional.

Our main goal is to maintain quality in every step of our process, from purchasing materials and selecting designers to stitching and

delivering products to customers. Our ultimate objective is to ensure customer satisfaction.

We offer both standardized products and custom-made dresses to meet individual preferences.

You can locate us at Door 4, 500 Gabaton Building on Elpidio Quirino Avenue in Davao City. The commercial space measures 5x14 sq. The monthly rent is P12,000.00, excluding water and electricity costs.

Our wedding dress shop's competitors include Wedding Glamour, Wedding Channel, Wedding Avenue, and Knot's Forever. Our target market consists of people living within Metro Davao, which has a population of 1,449,296 (National Statistics Office, 2010). To promote our product, we can place posters and streamers in malls, hotels, and restaurants for easy recognition. It's worth noting that billions of people, both foreign and local, are users of Facebook, along with Multiply.

Regularly logging in through Facebook and Multiply, individuals spend at least an hour or more on these platforms. By utilizing these platforms, one can easily target their desired audience while enjoying the convenience and cost-free benefits they offer. Despite this, Newspaper Ads remain a timeless yet impactful method of reaching a substantial number of individuals. These ads go beyond simply promoting a single item or sale—they play a crucial role in attracting and retaining customers. Particularly effective in reaching older demographics aged 45 and above who frequently read newspapers, newspaper ads are still relevant even as younger demographics rely on television, radio, or the internet for news.

We can target our ads to specific sections, ensuring that they reach markets relevant to our desired audience.