Mission Statement Petite Chic is a boutique deticated to help petite modern women find clothing that fits them perfectly and that is chic at the same time. We want our customer to feel like they just made a new friend when they come in to our store. Our number one goal is to make our customer happy for the reason that our customer is the one who is supporting our business.
Product/Services There is need for Petite Chic to open. Petite women are 70% of the United States Population.1 That is why we want to create a boutique for this paticular kind of women. Our customer will have a wide selection of fashionable petite clothes.When our customer comes to Petite Chic their expierence will be a personable shopping expierence, fit to their needs. If our customer needs a stylist, our salespeople are capable to style customers appropietly and that compliments their shape. We want our customer to have a good time, and feel like they are hanging out with one of their girlfriends. Customers will have salespeople cater to their needs and assist them with any concerns that they may have. We have a broad selection of fashionable clothes to chose from at moderate price range. Petite Chic specializes in petite clothing enabling us to cater all the needs of a petite woman. Accessories and shoes are also sold in the boutique, so our customer can have a complete outfit in one stop. Free tailioring is provided for clothes that does not fit perfectly to the customer, when a purchasing more than $50 dollars.
Location & Market Petite Chic will be located inside the Westside Pavilion Mall in Los Angeles. We chose this location because of the diversity of ethnicity, has higher income people in the area. Many tourists pass by there since the Fox Studios, Staple Center, L.A. Convention center and Santa Monica Beach are all nearby. It is located in the mall so there is plenty of free parking also two buses stop right by this location, they are Santa Monica Big Blue Bus Line #7 and Metro Bus Line #30.
Opening Date Petite Chic we will open its doors to everyone on June 25, 2011.
Funding Funding for the business is going to be provided by 30% Personal funds, 25% Reltaives, and 45% Bank. 1 Bellapetite.com 1
Success Factors •
The location for Petite Chic is great to open a new business.
This area is well known; therefore, people know exactly where we are located. People are already going to the mall to do some shopping. The market location makes it convenient for people to go shopping at Petite Chic because of the free parking. •
Petite women’s clothing is an underserved market.
Petite women are 70% of the U.S. Population. Women 5’9″ or taller are only 3% of the market place and they are the standard in sizing. Petite female consumers represent 10 billion dollars of retail buying power in the United States.2 However, very few stores cater to petite women specific needs. Petite Chic will cater to these women’s needs. •
Higher income consumers are in the area.
People who have higher incomes indicate that they have disposable to spend on entertainment and clothes. They will have extra money to spend at our store. •
Great customer service
Our company will strive to have the best customer service skills. By having the best customer service skills, our customers will leave the store happy and keep coming back; also, they will tell others about our great service creating new customers. •
Knowing our own S.W.O.T. and our competitors
Knowing our strengths, weaknesses, opportunities and threats will give our company an edge and to help us improve our company. Competitors S.W.O.T will help us identify how and why their business is successful, as well as knowing their weaknesses and threats will help us make our business better than our competitors.
2 IBID 2
Section Summaries Company Overview •
Petite Chic will be a solepropitership business; the owner will be the main person in charge of making important decisions on the business.
•
Our company will make its profit through large volume of merchandise and through its niche market for petite women.
•
Petite Chic came up with problems that may arise when operating the business and solutions on how to solve these problems.
Market Analysis •
Knowing the demographic in the area of location is a key factor in determining if your business will be successful.
•
Using advance market research tools like Prizm NE, VALS, and ZipSkinny to help determine our demographic and psychographics.
•
Comparing strengths, weaknesses, opportunities and threats with competitors and our own company will help build a successful business by knowing this information. This is also known as a composite S.W.O.T meaning a condensed and co-related charting of nonredundant, non-repetitive areas of strategic interest and implication to our new business venture. The emphasis resides in how Petite Chic compares to its major competitors and illustrates the strategies to overcome obstacles as well as those to better leverage company growth. Our top three competitors are Ann Taylor, Banana Republic and Macy’s Petite Department.
Market Strategy •
Petite Chic caries everything needed to create an entire outfit, so our customer only has to make one stop for shopping.
•
We will use various paid commercials to get to our target market. Petite Chic will first use the pull strategy. The pull strategy means spending a lot of money on advertising to create a demand for the products. We will reach our customers in the store by advertising on the MyFm radio station, Los Angeles Times, flyers and Facebook.
3
•
Personal Selling and Sales Promotions, our staff is trained to listen effectively to customer’s interests and needs to help build a long lasting relationship with them and so the customers can inform others on how well our service is at Petite Chic.
Operations Plan •
The owner will be in charge of the trend analysis. Owner will research what are the latest trends in fashion by using online websites (WSGN, Pantone and trendsetter.com), Women’s Wear Daily newspaper, fashion magazines, attending trade shows and fashion shows. Using all these different sources will help us know what are the latest trends and styles, also what to buy for our customers.
•
To certify merchandise is intact at Petite Chic we will have MSI Inventory Services come to our location twice a year. This will insure inventory correctly accounted for, monitor shrinkage and control inventory.
Financial Plan
Petite Chic
CASH FLOW
$12,000 $10,000 $8,000 $6,000
Ending Cash
$4,000
Beginning Cash
$2,000 $-‐ $(2,000)
Jan Feb Mar Apr May Jun
Jul
Aug Sep Oct Nov Dec
4
Petite Chic
TOTAL SALES
$60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $-‐ Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Appendices
Women in America Women 5'9 and over
Women under 5'4
Women 5'5 to 5'9
3%
27%
70%
5
Petite Chic
Store Front
Waiting Room Area
6
Price Range 7
Owner & Organization Pettie Chic is a boutique devoted to help petite modern women find clothing that fits them perfectly and that is chic at the same time. Petite women are 70% of the United States Population.3That is why we want to create a store for this paticular kind of women. Our customer will have a wide selection of fashionable petite clothes. When our customer comes to Petite Chic, their expierence will be a personable shopping expierence, fit to their needs. If our customer needs a stylist, our salespeople are trained to be capable to style our customer appropietly and that flatters their shape. We want our customer to have a good time, and feel like they are hanging out with one of their girlfriends. Customers will have salespeople cater to their needs and assist them with any concerns they may have. We have a broad selection of fashionable clothes to chose from at moderate price range. Petite Chic only specializes in petite clothing enabling us to cater all the needs of a petite woman. Accessories and shoes are also sold in the boutique, so our customer can have a complete outfit in one stop. Free tailioring is provided for clothes that not fit perfectly to the customer, when a purchasing more than $50 dollars. Petite Chic is located inside the WestPavillion Mall in Los Angles, California.
Legal Form/Ownership Petite Chic will be managed as solepropitership. This is the best way to manage Petite Chic this will make it more flexible, easy to respond in important decisions for the business and with the help of the lending services would help Petite Chic.
3 Bellapetite.com 8
9
Overall Strategy 12 Months Prior to Opening Task
Jun 11
Jul 11
Aug 11
Sept 11
Oct 11
Nov 11
Dec1 11
Jan 12
Feb 12
Mar 12
Apr 12
May 12
June 12
Secure location Attain Permits and Licenses Make sure building is up to code Meet with fashion designer Meet with Vendors Meet with Interior Designer Start working on the interior Start contacting advertisers Have vendors send merchandise Set up POS systems and inventory control Hire Employees
Book Dj Build stage for fashion show Hire employees Last Minute items for grand opening Grand Opening
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Company Objectives Short Term Objecitves ( one year from opening) •
Create an aging list of customers who come in to make sure they keep coming in. o Obtain customers information. o Send customers out special deals when they have not been shopping at the store.
•
Host fun events to obtain and maintain customers o Have a booth at Santa Monica on the 4th of July with fun games and prizes. o Host an Invite Only Sale. o Creating fun sweapstakes when customers purchase a certain amount of merchandise.
•
Managing Employees and making sure they are meeting the stores standards. o Have an employee evaluation every six months to make sure they are doing their job corectly and are putting customers needs first. o If employees are not doing their job corectly retrain them to make sure they are working correctly.
•
Create a website o Meet with a web consultant to have a website created. o Customers who are not living in the area will also be able to shop thru the website.
Long Term Objectives (3-5 years out) •
Management Staff o Hire a full time manager and assistant manager to help out with managing the business. o Hire enough staff to be able to attend all customers properly.
•
Attain a large customer base o We will attain a large customer base by advertising through social media networks ads on newspapers and other medias. o As well as word of mouth from other customers.
•
Pay off all loans o Have bank loans and all other large loans paid off. 11
o Send out large payments to companies we owe money to. •
Open another location o After all loans are paid off from the first Petite Chic we will open another location.
Company Resources Management Petite Chic will be owned as a sole propitership, all the major decisions having to do with the boutique will be made by the owner. After the first year we will be able to hire a full time manager and assistant manager to help out with the store. The owner will still be in charge of operations, promotions and advertising.
Finacial The money to open up Petite Chic will come from: •
30% Personal funds
•
25% Reltaives
•
45% Bank
Market Scope Petite Chic is located inside the WestPavillion Mall in Los Angeles. Many of the surrounding zip codes had the same target audience as the location of Petite Chic. The zip codes that were researched were 90025, 90405, 90066, 90034,900212 and 90024. These zip codes had the same Prizm NE demographic and market segment profiles, which are American Dreams, Bohemian Mix and Young Digerati. There will be further more discussion of what each one of these profiles mean later in the business plan. The target audiences are all well educated people, diverse in cultures, like new and trendy products and live in hip areas. Pettie Chic is a boutique deticated to help petite modern women find clothing that fits them perfectly and that is chic at the same time. An underservered market, about 70% of the United States Population is petite.4 That is why we want to create a store for this paticular kind of women Our customer will have a wide selection of fashionable petite clothes. Petite Chic will also be a one stop so customers can obtain all the accessories needed to complet an outfit. 4 Bellapetite.com 12
Basic Orientation Volume and Market are how Petite Chic is going to make its profit. Due to the fact that most of the clothes sold in the boutique are of reasonable price people are going to buy more meaning more volume. Petite Chic is for the underserved market of petite women this is why market is another important factor in creating a profit for our business.
Problems Expected •
Traffic Hours
Our customers might have trouble getting to the mall because of the traffic. They will probably avoid the mall during these times. •
We will have difficulties in providing wide variety of petite clothes from vendors.
This is an underserved market. There is not a wide selection of vendors, which cater to petite women. We will also have our own line to help with this problem. •
The mall is crowded area.
People might not want to go shopping at the mall because of all the people there, so they might avoid large populated areas. •
Economy is still having difficulties coming out of the recession.
People are still scared to spend their money because of the economy; they may not want to do much shopping if they still are worried about money. •
Creating foot traffic in the store might be difficult at first.
It might take time for people to know that we are open and where we are located.
13
Market Analysis Customer Profile Demographics Through much research of the demographics around Los Angeles area, we found the perfect area to open Petite Chic. Our store going to be located is in the Los Angeles area code of 90064 population of 24, 487, the entire Los Angeles area population is 17,900,000 people. The primary customers for Petite Chic are professional petite Hispanic or Asian women with a household income of $35,000 to $150,000. Descriptions of the demographic for Petite Chic are listed below: •
Sales Director ( ages 20-50)
•
Household Income( $35,000-150,000)
•
Married, no children
•
Hispanic/Asian
•
Bachelors degree
•
Rents a home in upscale Los Angeles
According to the information found in zipskinny.com and zillow.com, our demographic will consist of women who are married but have no children and who are well educated with a bachelor’s degree or higher. Although most of our customer base will come from this demographic, it will not be limited to just his type. Relationship Status
http://www.zillow.com/local-info/CA-Los-Angeles-people/r_12447/
The majority of the population in this area is married as shown on the graph above provided by Zillow. This indicates us that our customer base will be married. 14
Age Distribution
58%
http://www.zillow.com/local-info/CA-Los-Angeles-people/r_12447/
The graph above shows us the different ages of the area we have selected. 58% of the total demographic are found to be in their twenties up to the fifties. This is our primary demographic age profile. Homes with Kids
http://www.zillow.com/local-info/CA-Los-Angeles-people/r_12447/
The graph above shows the percentages of the homes with children or without, more than half of the population in our area is without children. We discovered that most of Petite Chic’s population will be without children, but not limited to just this type of demographic.
15
http://www.city-data.com/city/Los-Angeles-California.html
The graph above shows the different races in the city of our location. About half of the city’s population is of Hispanic decent. This indicates us that our customer base will be of Hispanic descent.
Educa6on Bachelors or higher: High school or higher: Graduate/Professional: Bachelors degree: Associate degree: Some college: High school graduate: 9th-‐12th grade (nongrad): Less than 9th grade: (among people 25 years or older) EducaSonal Achievement:
50.60% 90.80% 22.60% 27.90% 6.70% 20.90% 12.60% 5.40% 3.80%
http://zipskinny.com/index.php?zip=90064&pagetype=main
16
The chart above shows us the different education levels of the population for our business location. Petite Chic’s customer base has at least completed their bachelors because according to the graph provided by zillow indicates us that the population of our location has higher level of education than a high school diploma.
http://realestate.yahoo.com/California/Los_Angeles
The graph above shows us how many people in the area of our location rent or own a home. More than half of the population rents a home in this area. This data shows us that most of our customers will rent their home.
Psychographics The woman who shops at Petite Chic is social butterfly, who loves to go dancing with her girlfriends but also likes to cook delicious food for her husband. She also has many different hobbies and activities like; enjoys shopping, especially clothes that make her feel confident and professional for her job or other occasions. She always has a problem with sizing, at department stores the pants, jackets, etc. are always too long for her small stature. Therefore, she has to go to a tailor and have her clothes altered. She wishes there was a store that had fashionable clothes for a petite woman. The stores she has found for petite women do not have a wide selection or they are for more mature women. Her free time activities are listed below: •
Reads InStyle, Glamour, People, The New Yorker, and LA Times.
•
Watches Bravo TV shows addicted to Real Housewives and Top Chef. Enjoys Lifetime channel, records Project Runway. When she has time, she watches Oprah and Dr. Oz. Watches TV six hours a week. 17
•
Listens to the radio while driving to work or when she is taking a shower, listens to MYFM 104.3.
•
Hobbies like making crafts for the house, goes shopping at the Westside Pavilion Mall with her girlfriends, goes to the spa once a month, takes Zumba classes, finds new healthy ways to cook food, also enjoys to read a good inspirational book or a Nicholas Spark book.
•
She attends her Christian church every Sunday with her family.
•
Enjoys all types of movies from The Notebook to 300. Goes at least once a month to see the latest movie in theaters or just rents a movie from Redbox at least once a week.
•
Loves to check out the latest restaurants in L.A. like the Spark Wood fire Grill on West Pico Blvd. She hits the latest clubs, La Deux, LAX; Club 740, Ivars and Level 3 are some of the clubs that she goes to a few times a month.
“Day in the life” She hits the alarm at seven in the morning, gets up to get ready for her busy day. She goes into the kitchen to make her Quaker instant oatmeal with a banana and a glass of Tropicana orange juice. She eats while reading the daily Los Angeles Times to see what is going on in the city, as well to check the weather and her horoscope. When she is done with eating and reading the newspaper, she takes a shower. While in the shower uses Burts Bee all natural products, for her hair and skin. Gets out of the shower and puts on Burts Bee lotion on face and body. Then she proceeds to dry her hair using her Chi ceramic hair dryer and straightening her with her Chi straightner, using natural oils in her to help her get that silky smooth look. After she finishes doing her hair, she does her make up only using Tarte all natural make up. Finishes doing her makeup and then she heads to her walk-in closet to figure out what she will wear to work. She picks out a pair of Ann Taylor trousers that are long on her so she has to wear high heels so they do not drag, and picks a cute BCBG top to go with her trousers. Gets her things, heads to her Toyota Prius, and goes to her sales director job in downtown Los Angeles. During the drive to work, she listens to MyFm because they play all her favorite music from when she was younger to today’s music. Arriving to work, she heads to her own office and starts her working day. For lunch, she has brought her own chicken salad with a Fuji apple, light and fit yogurt and her smart water, and then heads back to work. When she gets off at five she, gets in her Prius and heads to Bally’s to work out and to go to her Zumba class. After her 18
workout session, she heads back home to make dinner for her and her husband. She decides to make smoked salmon with asparagus and two glasses of Zafara Sauvignon Blanc (one of those glasses is for her husband), all items she bought at Trader Joes. After dinner, she sees what is on her favorite channel Bravo to see if they have the latest episode of Real Housewives, she watches TV for an hour. Then goes on her Iphone to check her e-mails, replies to the important e-mails. She later heads to wash her face with her Burts Bee facial cleanser, brushes her teeth, and heads to bed. In bed, she reads her InStyle magazine and when tired enough her and her husband call it a night. Prizm NE are various demographic traits, lifestyle preferences and consumer behaviors of people that live in our area of business. This market segmentation helps us understand in further details of who our demographic is and what they like, to help reach this audience. Listed below are the description of the three market segments that fit Petite Chic’s profile the best and why they make a great consumer to our business. Bohemian Mix Upper-Mid, Middle Age Family Mix A collection of mobile urbanites, Bohemian Mix represents the nation's most liberal lifestyles. Its residents are an ethnically diverse, progressive mix of young singles, couples, and families ranging from students to professionals. In their funky rowhouses and apartments, Bohemian Mixers are the early adopters who are quick to check out the latest movie, nightclub, laptop, and microbrew. The Bohemian Mix makes a great client for Petite Chic because they are young and laid back people who are open to go to new places. This also means they have a disposable income to spend on clothes and entertainment.5 American Dreams Upper-Mid, Middle Age Family Mix American Dreams is a living example of how ethnically diverse the nation has become just under half the residents are Hispanic, Asian, or African-American. In these multilingual neighborhoods--one in ten speaks a language other than English--middle-aged immigrants and their children live in upper-middle-class comfort.6
5
www.claritas.com
6
IBID 19
American Dreams Make a great client for Petite Chic because Hispanics and Asians tend to be shorter, which is great business for my store since it is a petite clothing store for women. They are also upper middle class people, which mean they have a disposable income for clothes and other items they want to spend their extra money. Young Digerati Upscale, Younger Family Mix Young Digerati are tech-savvy and live in fashionable neighborhoods on the urban fringe. Affluent, highly educated, and ethnically mixed, Young Digerati communities are typically filled with trendy apartments, condos, fitness clubs, clothing boutiques, casual restaurants, and all types of bars-from juice to coffee to microbrew.7 Young Digerati make a perfect client for Petite Chic since they are in to fashion and care about their appearance. They also are ethnically diverse so there is going to be petite women in the group. These people also are well educated and affluent so they have a disposable income to spend on other items. VALS, means values, attitude and lifestyles. This is a psychographic segmentation to better comprehend the motivations of consumer behavior. The VALS segmentation also coincides with Maslow’s teaching of Hierarchy of Needs. Below are three different segments of VALS that relate to who our customer is and what motivates them to buy. Strivers “Strivers are trendy and fun loving. Because they are motivated by achievement, Strivers are concerned about the opinions and approval of others. Money defines success for Strivers, who do not have enough of it to meet their desires. They favor stylish products that emulate the purchases of people with greater material wealth. Many Strivers see themselves as having a job rather than a career, and a lack of skills and focus often prevents them from moving ahead. Strivers are active consumers because shopping is both a social activity and an opportunity to demonstrate to peers their ability to buy. As consumers, they are as impulsive as their financial circumstance will allow.”8 Strivers make great client for Petite Chic because they are impulsive consumers, are interested in stylish products and they like to appear as if they have a lot of money. These types of people are not hard to persuade when trying to make a sale with them. 7 IBID 8 www.strategicbusinessinsights.com/vals 20
Experiencers “Experiencers are motivated by self-expression. Young, enthusiastic, and impulsive consumers, Experiencers quickly become enthusiastic about new possibilities but are equally quick to cool. They seek variety and excitement, savoring the new, the offbeat, and the risky. Their energy finds an outlet in exercise, sports, outdoor recreation, and social activities. Experiencers are avid consumers and spend a comparatively high proportion of their income on fashion, entertainment, and socializing. Their purchases reflect the emphasis that they place on looking good and having "cool" stuff.”9 Expierencers are a perfect client to Petite Chic. They like to spend most of their money on fashion, entertainment and socializing, which is great for me since I have clothing boutique. They are also easy to persuade in buying things as long that makes them look good or have cool things. Achievers “Motivated by the desire for achievement, Achievers have goal-oriented lifestyles and a deep commitment to career and family. Their social lives reflect this focus and are structured around family, their place of worship, and work. Achievers live conventional lives, are politically conservative, and respect authority and the status quo. They value consensus, predictability, and stability over risk, intimacy, and self-discovery. With many wants and needs, Achievers are active in the consumer marketplace. Image is important to Achievers; they favor established, prestige products and services that demonstrate success to their peers. Because of their busy lives, they are often interested in a variety of time-saving devices.”10 Achievers are great clients for Petite Chic. They like to spend money on their image and things that save them time. Which is great for my boutique because they will spend money on clothes to make their image look better also it will save them time shopping at my clothing boutique because they do not have to go to a tailor and have their clothes altered to fit their petite frame.
9 IBID 10 IBID 21
Petite Chic’s customer is motivated to buy by her need of self-esteem as described by the Maslow’s Hierarchy of Needs. When she has clothes that make her look good and feel good. Then she has more confidence, making her want to buy more clothes that have that effect on her. People also will have more respect towards her if she looks put together. She is motivated by the sense of belonging with other women by having the latest fashion in clothes. Feeling secure and safe in the clothes she wears also motivates our customer. This creates selfconfidence for our customer
because she feels comfortable in the clothes she wears.
http://mrburnce.files.wordpress.com/2009/10/maslows-hierarchy.gif
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Market Analysis Target Market Market Location We chose this area to open up Petite Chic because of the diversity of ethnicity, has higher income people in the area. Many tourists pass by there since the Fox Studios, Staple Center, L.A. Convention center and Santa Monica Beach are all nearby. It is located in the mall so there is plenty of free parking and two buses that stop right by, they are Santa Monica Big Blue Bus Line #7 and Metro Bus Line #30.
www.googleearth.com
10800 West Pico Blvd #312 Los Angeles, CA 90064-2187
23
Market History Los Angeles is full of history and diverse cultures. It goes back to 1769, when Spanish settlers first arrived. When they arrived, the Northern Uto-Aztecs already populated it. They did not establish permanent colonial settlement until September 4, 1781, they named it El Pueblo de Nuestra Senora de Los Angeles di Poriuncula. Named after a shrine of the Virgin Mary Santa Maria delgi Angeli from Italy. The city was built by the governor Felipe Neve and his volunteers. The volunteers came from Mexico; they received money and tools to create the city and their homes. El Pueblo de Nuestra Senora de Los Angeles di Poriuncula was created to give the feeling of how Spanish life was. After the Mexican American War in 1847, the Treaty of Cahuenga made Los Angles part of American territory.11 A year Later the gold strike hit in Los Angles and most of California creating new residents. In 1890, oil was discovered in Los Angeles; by the 1900’s agriculture was an important role to Los Angeles economy.12 During the 1930’s film producers came here to make movies because the weather was better to film in, they were making 750 movies a year. The invention of television created the rate of films to slow down but later on Los Angles caught up by having TV production studios.13 To this day, many aspiring actors come to Los Angles hoping to make their dreams come true. The different cultures that come to this city to create a better life for themselves. Makes Los Angeles a city with diversity and rich of history. The historical city also obtains many tourists that want to come and see the entertainment and historical sites Los Angeles has to offer. Los Angeles makes a good city to start a business because of the history and attractions that draw people to come visit here.
11 Steen, Francis F., ed. "A short history of los angeles." 12 www.losangeles.com 13 www.city-data.com 24
Climate Los Angeles has great weather and it rarely rains. Since Los Angeles is mostly a sunny and warm city, we will have more spring and summer attire than winter. We will sell lighter clothing and jackets because it does not get very cold in this city. Month
January February March April May June July August September October November December
Precipitation
Maximum
Minimum
Sun shine
in
cm
F
C
F
C
%
3.06 3.27 2.52 1.16 0.25 0.08 0.01 0.07 0.28 0.38 1.38 2.35
7.8 8.3 6.4 2.9 0.6 0.2 0.0 0.2 0.7 1.0 3.5 6.0
67 68 69 71 73 77 82 84 82 78 73 68
19 20 21 22 23 25 28 29 28 26 23 20
49 50 51 54 57 60 63 64 63 59 54 50
9 10 11 12 14 16 17 18 17 15 12 10
72 69 72 73 75 80 96 96 89 82 80 74
http://gocalifornia.about.com/cs/losangeles/l/bl_la_temp.htm
Geography Region: West Division: Pacific State: California CSA Name: Los Angeles-Long Beach-Riverside, CA CBSA Type: Metropolitan CBSA Name: Los Angeles-Long Beach-Santa Ana CA County: Los Angeles City: Los Angeles Longitude: -118.4 Latitude: 34.0 Elevation: 159 feet above sea level14
14 Infoplease.com 25
Infoplease.com
Market Scope Petite Chic is located inside the WestPavillion Mall in Los Angeles. Many of the surrounding zip codes had the same target audience as the location of Petite Chic. The zip codes that were researched were 90025, 90405, 90066, 90034,900212 and 90024. These zip codes had the same Prizm NE demographic and market segment profiles, which are American Dreams, Bohemian Mix and Young Digerati. Which we have previously discussed what each one of these profiles mean. The target audiences are all well educated people, diverse in cultures, like new and trendy products and live in hip areas.
Market size and growth rate The graph below shows how Los Angeles growth rate has changed over the years. In 2008, Los Angeles had a very high growth rate and in 2010, the growth rate seemed to lower. The graph indicates a curve throughout the years. The charts below explain why Los Angeles is a great to open a small business because it has a better growth rate for a small business than other cities.
26 Â Â
Los Angeles Popula6on Growth 4 2
Series 1
0 2000
2004
2008
2010
Population in July 2008: 3,833,995. Population change since 2000: +3.8percentage www.city-data.com
Business Climate
City stats
Employer establishments with 1-49 employees
Average for all large metro areas
325,132
78,289
6%
5.3%
(2007)
Small business growth rate (2004-2007)
DEMAND
City stats
Per-capita income (2007)
Per-capita income growth (2002-2007)
GDP (in millions) (2006)
GDP growth (2001-2006)
Average for all large metro areas
$42,278
$41,342
30%
25.0%
$680,230
$164,601
34%
32%
http://money.cnn.com/smallbusiness/best_places_launch/2009/snapshot/199.html
Attractive Features of this market •
Market location is great.
The market location makes it convenient for people to go shopping at Petite Chic because of free parking; also the area of our store is well known. •
The climate is mostly sunny.
Los Angeles great weather creates a good atmosphere to go out and shop. •
Petite women’s clothing is an underserved market. 27
There is not a particular store, which caters to petite modern women. Petite women need to buy clothes to, so there needs to be a store that caters to their specific needs. Petite Chic will cater to these women’s needs. •
Los Angeles has a lot of history.
The history of Los Angeles creates tourist that come and visit the great city, this means there will be tourist in our area who will also want to do some shopping. •
Higher income consumers are in the area.
People who have higher incomes indicate that they have disposable to spend on entertainment and clothes. They will have extra money to spend at our store.
Difficulties and Problems in this Market •
Traffic Hours
Our customers might have trouble getting to the mall because of the traffic. They will probably avoid the mall during these times. •
We will have difficulties in providing wide variety of petite clothes from vendors.
This is an underserved market. There is not a wide selection of vendors, which cater to petite women. We will also have our own line to help with this problem. •
The mall is crowded area.
People might not want to go shopping at the mall because of all the people there, so they might avoid large populated areas. •
Economy is still having difficulties coming out of the recession.
People are still scared to spend their money because of the economy; they may not want to do much shopping if they still are worried about money.
28
•
Creating foot traffic in the store might be difficult at first.
It might take time for people to know that we are open and where we are located.
Existing Demand for this Product •
Not a large choice of stores and clothes meeting the needs of petite women.
•
Petite Chic can help create more foot traffic for accessories and shoe stores.
•
There is a need for Petite clothing in this area since there is a large population of Asian and Hispanics, which tend to be petite in these cultures.
29
Market Analysis The Competition Primary Competitors There are quite a few competitors around Petite Chic, since it is located inside a mall; we found these three clothing stores to be our biggest competitions: Name Address
Brief Description
Ann Taylor
Macy’s
10800 W Pico Blvd # 312 Los Angeles, CA 90064-2187
10800 W Pico Blvd # 312 Los Angeles, CA 90064-2187
10800 W Pico Blvd # 312 Los Angeles, CA 90064-2187
-Ann Taylor provides clothing for a more sophisticated women than we do
-Retail store that has both men and women’s clothing
-Department store that has a variety of products and clothes
- Carries a petite clothing line
-Macy’s carries designer brands
-They great window displays
-Customers can do all their shopping at one stop
-Retail store that specializes in women’s clothes
What do they sell?
Banana Republic
-Has small selection for the petite women
-Comfortable environment
-Sophisticated modern women’s clothing
-Men’s clothes
-Beds and accessories
-Women’s clothing
-Furniture
-Shoes
-Children’s clothing
-Hand bags
-Jewelry
-Jewelry
-Men’s Clothing & accessories
-Accessories
-Women’s Clothing& accessories
-Shoes -Accessories -Jewelry -Offer credit card
-Offer a credit card
Why they are our competition?
-They carry petite women’s clothes.
-They also have a petite line.
-Cosmetics -Has a petite department in their store
-Same target market -Same target market
-Same target market -Worldwide known
-Well known store
-Worldwide known -Loyal customers
-Loyal customers
-Loyal customers - They have the latest fashion
-Has quality clothes
- Has other departments
30
Indirect Competition The Landmark Theater is indirect competition because consumers might spend their money at the movie than buy a new pair of pants. The theater is located right by the Westside Pavilion Mall. If our consumer is with their significant other, they would rather spend their money in something both can enjoy so they will choose going to the Landmark Theater over buying a pair of jeans at our store.
31 Â Â
Composite S.W.O.T. Petite Chic has provided a condensed and co-related charting of non-redundant, nonrepetitive areas of strategic interest and implication to our new business venture. The emphasis resides in how Petite Chic compares to its major competitors and illustrates the strategies to overcome obstacles as well as those to better leverage company growth. Our top three competitors are Ann Taylor, Banana Republic and Macy’s Petite Department.
Strengths
Weaknesses Competitors:
Competitors: •
Well known
•
“Green” store
•
Knowledgeable staff
•
Great location
•
Is socially responsible in their community
Petite Chic: •
Focus is only on petite women
•
Friendly and helpful staff
•
Alterations available in store
•
Great location
•
Not specifically a petite women’s clothing store
•
Too many departments in store
•
Poor customer service
•
Does not have a wide range of petite clothes to pick from
Petite Chic: •
Does not have an established clientele
•
Not well known
•
Caters to only one demographic
Opportunities Competitors: •
Large Network
•
Better visual merchandise can attract new
•
Threats Competitors: •
Economy, people are still scared to spend a lot of money.
customers
•
Other Competition
Website
•
Online shopping
Petite Chic: •
Building customer relationships
•
Website
•
Expanding to more locations
Petite Chic: •
Economy, people are still scared to spend a lot of money.
•
Other completion
•
Online shopping
•
Creating a name for ourselves
32
Marketing Environment Economic and Political Issues Many factors will help our business be a successful business. The U.S. has passed a bill that will help small business succeed. This a great advantage to help create more jobs and help the U.S. economy. California is also showing growth in the economy through their entertainment, international trade and tourism. Los Angeles County reported an increase in personal income and The Los Angeles Chamber of Commerce is pursuing legislation to help pass bills that will help the state’s economy and job creations. Further description of these issues will be described below in the different sub sections. National- “A House panel on Wednesday approved $14 billion legislation containing a number of measures providing tax relief to small businesses and extending a bond program to help local governments fund public works projects. The Ways & Means Committee voted to report the bill, which includes a number of measures aimed at helping small business owners. These include an increase in relief from capital gains tax, and a hike in a deduction for start-up expenditures. The legislation would also extend so-called "Build America Bonds," a popular program used by local and state governments to access capital markets to fund local projects. The bonds were initially introduced in last year's stimulus plan to enable local governments to continue being able to raise money despite the seized-up credit markets. In the Senate, lawmakers are also focused on bringing forward a plan aimed at helping small businesses recover from the economic downturn. A resurgence in the small business community is seen as essential by lawmakers because of the proportion of jobs that are created by smaller firms.” The house approving $14 billion is going to help all small business tremendously. They also are helping small businesses succeed the current economy by helping with increasing capital gains tax and increase for deduction for start-up expenditures. This will also help create more jobs for people. Petite Chic will greatly benefit from the approved bill, since we are all a small business. It will help our business succeed and grow. State- “California is headed for a gradual economic recovery in 2010 and 2011according to a forecast released today. Unemployment will remain elevated, but the entertainment, international trade and tourism sectors will push growth regionally, according to the report from the Kyser Center for Economic Research at the Los Angeles County Economic Development Corp.” 15 The gradual economic growth is good news to our business, the growth means that by the time our business gets up and running we will be in better time economically. This will create greater chances for us to have successful business. 15 www.latimes.com 33
County-“Personal income, which declined 1.5% in L.A. County last year, is projected to increase 1.8% in 2010 and 3.8% in 2011. That should help the recovery of the retail sector. “16 Increase of personal income will create more disposable income for our customers thus making our customers want to spend more at our store. City- “LOS ANGELES, CA – Yesterday, as people throughout California continued to struggle to find work, two bills went before State legislative committees that would have created jobs and helped California’s economy get back on course. However, instead of focusing on job creation and the economy, California legislators failed to take any action. “At a time when the unemployment rate is more than 12 percent, the L.A. Area Chamber urges these committees to do what is right and prioritize legislation that will help put Californians back to work,” said L.A. Area Chamber President & CEO Gary Toebben. Yesterday, the Senate Revenue and Taxation Committee heard but failed to act on SBx6 4 by Senator Roy Ashburn (R-Bakersfield) and Senator Ron Calderon (D-Montebello), legislation that would extend and expand the hugely successfully homebuyer tax credit for Californians by $200 million. This measure has bipartisan co-authors, support from industry and labor, and would create much needed construction jobs and get people buying homes and investing in California communities again. In addition, the Senate Environmental Quality Committee heard but failed to act on SBx8 42 by Senator Lou Correa (D-Santa Ana) and Senator Dave Cogdill (RModesto), which would have created jobs in the hard hit construction industry by protecting a select number of construction projects from frivolous lawsuits brought under the California Environmental Quality Act, without sacrificing environmental protections”17 The Los Angeles Chamber of Commerce is pursuing legislation to help the California’s economy passing bills that help create jobs and help the state’s economy grow. If these bills are passed, they will help business and help people find jobs. It will also create a confidence in our state’s economy, making residents feel confident in spending money. Petite Chic will benefit with this bill because if people feel confident in spending money, they will want to come into our store and shop.
16 (IBID) 17 Lachamber.com 34
Business Cycle
Currently, the business cycle is still in the late recession period and is going on to the Trough that is not quite to the early expansion but it is getting closer to it than before according to Marketwatch.18
Layoffs/unemployment There have been 153,127 mass layoffs last month that is the lowest level it has been since July of 2008.19 The unemployment rate has gone from 10% to 9.7% this month.20 The unemployment rate is slowly going down.
18 Marketwtach.com 19 Bls.gov 20 (IBID) 35
Top 20 Local Employers Company
Employees
1.
Walt Disney
144,000
2.
Northrop
123,600
Grumman 3.
Occidental
10,400
Petroleum 4.
DIRECTV
19,600
Group 5.
Health Net
9,600
6.
Edison
18,300
International 7.
Jacobs
38,900
Engineering Group 8.
Reliance Steel
10,200
& Aluminum 9.
Dole Food
75,800
10.
Avery Dennison
35,700
11.
Mattel
29,000
12.
AECOM
43,200
Technology 13.
CB Richard
30,000
Ellis Group 14.
Live Nation
4,700
Entertainment 15.
Unified Grocers 16.
Molina
3,400 2,500
Healthcare 17.
KB Home
1,600
18.
Activision
7,000
Blizzard 19.
Mercury
5,000
General 20.
Guess
10,800
36
Legal/Regulatory/Tax/Licensing Issues In order to have our business open we must first comply with legal, regulatory, tax and licensing issues.
Legal Issues State•
Select a Name and Legal Structure
•
Register for DBA(Doing Business As)
•
Trademark and copyright name of business
•
File business with the Secretary of California State’s office
•
Obtain your Federal Employer Identification Number (FEIN)
•
Open the Company Bank Account
•
Lease Retail Space
•
Obtain Licenses and Permits
•
Obtain insurance needed for business
•
Establish proper accounting procedures
•
Setting up contracts o Commercial Contracts- The laws of commercial contracts originate from many sources, but the most important law concerning commercial contracts is the Uniform Commercial Code. It is a comprehensive commercial law adopted by every state, covering the sale and purchase of goods. It does not apply to services. o Employment Contracts- Employment contracts are governed by labor laws. An entire chapter of the legal profession specializes in this very complex and constantly changing arena o Real Estate Transactions- Real estate transactions involve the lease or purchase of land or property for your business premises. Contact a reputable real estate person, or ask advice from a bank or title company. Liability A business has three types of liabilities: product liability, legal liability, and employment liability.
•
Product Liability- Product Liability is a business' responsibility to ensure that the product it sells is safe for the public to use. It also covers warranties a business offers for its products. 37
o Legal Liability- Legal liabilities are the obligations a business owes to the government, such as abiding by the business law, the contract law, the tax law, the permit and licensing requirements. Legal liability also includes the protection against deceptive trade practices listed under the Uniform Deceptive Trade Practices Act. o Employment Liability- Employment liability is tied closely to employment contracts and labor laws. There is an entire body of law which regulates the number of hours worked, minimum wage, health benefits, discrimination, undocumented alien workers, termination of employment, retirement benefits, vacation, insurance, union contracts, etc. •
Injury and Illness Prevention Program California's worker safety law requires businesses with 10 or more employees to have a written comprehensive safety program that identifies work place hazards. Employers also must have a safety-training program, a way for workers to identify hazards with no fear of reprisal and a person responsible to implement the plan. Employers with fewer than 10 workers must comply with the law, but do not need all of the regulations in writing. Penalties for violators range from fines, to closing down operations, to jail time.
•
Americans with Disabilities Act (ADA) This comprehensive legislation provides civil rights protection in employment, transportation, public accommodations, and more to individuals with disabilities. Employers must comply with several provisions under this law.
County•
Sellers permit
•
Compensation Benefit
•
Work Safety
City•
Prospecting Hiring
•
Customer Statement
•
Daily Cash Sheet
38
Regulatory Issues State•
Electronic Funds Transfer
•
Employment Disciplinary Action
•
Employment Disciplinary Aids
County•
Drug Test policy
•
Telecommunity Policy
•
Long Distance Call log
City•
Employee time sheets
•
Absence Policies
•
Sexual Harassment Policies
•
Smoking Policy
•
Employment Release
•
Vendor Registration Number (VRN)
•
Business Licenses / Tax Permits - from your city or county clerk or revenue department. Many jurisdictions require a trader's license or tax certificate in order to operate.
•
Building Permit - from your city or county building and planning department. This permit is generally required if you are constructing or modifying your place of business.
•
Health Permit - from your city or county health department.
•
Occupational Permit - from your city or county building and planning development department. This permit is required for home-based business in some jurisdictions.
•
Signage Permit - from your city or county building and planning department. Some jurisdictions require a permit before you can erect a sign for your business.
•
Alarm Permit - from you city or county police or fire department. If you have installed a burglar or fire alarm, you will likely need an alarm permit.
39
•
Zoning Permit - from your city or county building and planning department. This permit is generally required if you are developing land for specific commercial use.21
Tax Issues NationalStarting and Operating a New Business •
Form SS-4, Application for Employer Identification Number
•
Form 1040-ES, Estimated Tax for Individuals
•
Forms, Sole Proprietorships
•
Forms, Employment Tax
•
Forms, Information Returns (W-2, 1099-A, 1099-MISC, 1099-R, etc.)
General Business Expenses •
Form 1040 Schedule C, Profit and Loss From Business (Sole Proprietorship)
General Forms •
Form SS-5, Application for Social Security Card
•
Form 1045, Application for Tentative Refund
•
Form 2553, Election By a Small Business
•
Form 6252, Installment Sale Income
•
Form 8903, Domestic Production Activities Deduction
Employment Tax Forms •
Form I-9, Employment Eligibility Verification
•
Form SS-4, Application for Employer Identification Number
•
Form SS-8, Determination of Worker Status
•
Form W-2, Wage and Tax Statement o
Form W-2, Instructions
•
Form W-2C,Corrected Wage and Tax Statement
•
Form W-3, Transmittal of Wage and Tax Statements
•
Form W-3C, Transmittal of Corrected Wage and Tax Statements
•
Form W-4, Employee's Withholding Allowance Certificate
•
Form W-4P, Withholding Certificate for Pension or Annuity Payments
•
Form W-5, Earned Income Credit Advance Payment Certificate
21 search.business.gov/permits 40
•
Form 940, Employer's Annual Federal Unemployment Tax Return Form 940, Instructions
•
Form 941, Employer's Quarterly Federal Tax Return o
Form 941, Instructions
•
Form 941, Schedule B, Employer's Record of Federal Tax Liability
•
Form 941-X, Adjusted Employer’s QUARTERLY Federal Tax Return or Claim for Refund
•
Form 944, Employer’s Annual Federal Tax Return o
•
Form 944, Instructions
Form 945, Annual Return of Withheld Federal Income Tax o
Form 945, Instructions
•
Form 1040ES, Estimated Tax for Individuals
•
Form 1040, Schedule H, Household Employment Taxes
•
Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons
•
Form 1099-MISC, Miscellaneous Income Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRA, Insurance Contracts
•
Form 4137, Social Security and Medicare Tax on Unreported Tip Income
•
Form 8850, Pre-Screening Notice and Certification Request for the Work Opportunity and Welfare-to-Work Credits o
Form 8850, Instructions 22
State•
State Tax, Forms and Information
•
Seller’s Permit
•
BOE-401 State, Local and District Return
•
BOE-230 General Resale Certificate
•
Business Income taxes
•
Withholding Tax
County•
Property Taxes
•
Utility Taxes
•
Income Statement Templates
22 http://www.irs.gov/businesses/small/article/0,,id=99198,00.html 41
•
Government Contracting Forms
City•
Business Tax Registration Certificate
•
Tax rate 9.750 %
Licensing Issues State•
Register business with the Board of Equalization
•
Obtain business license.
County•
must follow country license laws
City•
File a DBA (Doing Business As) Form
•
Vendor Registration Number (VRN)
•
File a Business License
Social Issues Educational Level: The educational levels for the people in our area of business have higher than high school education as shown in the graph below provided by zip skinny. This shows that the people in the area are well educated which means that they have higher paying jobs creating a more disposable income for clothing and entertainment.
42
Educa6on Series1 Bachelors or higher:
50.60%
High school or higher:
90.80% 22.60%
Graduate/Professional: Bachelors degree: Associate degree:
27.90% 6.70%
Some college:
20.90%
High school graduate: 9th-‐12th grade (nongrad): Less than 9th grade:
12.60% 5.40% 3.80%
(among people 25 years or older) EducaSonal Achievement:
http://zipskinny.com/index.php?zip=90064&pagetype=main
Family Size and structure: The family size in the area where Petite Chic is located is two people, the graphs below provided by zip skinny show that 67% of homes have no children and 49.1% are married. This shows that the majority of the families are two people. Homes with Kids
http://www.zillow.com/local-info/CA-Los-Angeles-people/r_12447/
43
Relationship Status
http://www.zillow.com/local-info/CA-Los-Angeles-people/r_12447/
Birth Rates: 15.1% is the birth rate for the Los Angeles area.23 Housing: The majority of the people who live in our area of business rent a home or apartment as the graph below shows. The average home in the area sells for $709,158.24 However, 72 houses are foreclosures so that is the reason people rather rent than own a home since they have a risk in going foreclosures. Owners vs. Renters
http://www.zillow.com/local-info/CA-Los-Angeles-people/r_12447/
Poverty & Crime Rates: The poverty rate is only 9.6% of all of the population in the area.25 Therefore, there are not as many low-income families in the area. The crime rate was higher than the average of all large metro areas because the rates were based on the entire city of Los Angles. The crime rate for our specific location is lower since the poverty rate is at a low level; poverty and crime are linked together. Unemployment/Poverty Unemployed
3%
Below Poverty Line
9.6%
23 http://www.laalmanac.com 24 http://www.neighborcity.com/ 25 www.zipskinny.com 44
City stats
Average for all large metro areas
Violent crime
553.8
537.6
2,564.5
3,700.0
(rate per 100,000 inhabitants)
Property crime (rate per 100,000 inhabitants)
http://money.cnn.com/smallbusiness/best_places_launch/2009/snapshot/199.html
Cultural issues There is a wide range of cultural diversity in the area of our business. There are many Hispanics in this area, but there is also a mix of cultures for there not to be ethnicity sensitivity. The graph below shows all the different races for the Los Angeles area. The diversity in cultures creates awareness to the people who live in this city. Petite Chic benefits from having diverse people because petite women tend to be in the Hispanic and Asian cultures. As shown below the graph indicates a large portion of the race in Los Angeles is Hispanic and it has a reasonable amount of the Asian race.
45 Â Â
http://www.city-data.com/city/Los-Angeles-California.html
Listed below are the different places that Petite Chic’s customer likes to go for entertainment and food. Movie theaters •
Landmark Theater, this movie theater is located in the same shopping center as Petite Chic, this helps our business because our customer will come and shop before attending the movie.
Restaurants The different restaurants listed below are places that our customer likes to eat and they are all located near the Westside Pavilion Mall. These restaurants are diverse restaurants because our customer likes to eat a variety of foods. They go to these different restaurants before or after shopping at our store. •
Chili Thai
•
East Wind
•
Great Khan Mongolian Grill
•
Gyu-Kaku
•
La Salsa
• Night Clubs The Nightclubs listed below are the different places our customer likes to go. They all play a variety of music to satisfy our customer love of various music genres. They are located near the Westside Pavilion mall; our customer will come in and purchase a going out outfit before hitting these nightclubs. •
Goodbar
•
Good Hurt
•
Plan B
•
The Joint
•
The Mint
46
Civic Center and events Los Angeles Convention Center, this is where our customer attends concerts and special events. The Arts and museums, our customer loves art and culture. They attend the various museums listed below: •
LA county museum of art
•
Jonathan Novak contemporary art
•
Museum of tolerance
•
Connecting cultures museum
•
National film museum
Religion Issues More than half of the population in the area follows; the Catholic faith as shown below in the chart 69% of the people considered themselves Catholics. This shows us that most of our holiday events will tie in with the Catholic celebrations for example Christmas and Easter. Breakdown of population affiliated with religious congregations. Name Adherents
Catholic
Southern Baptist
LDS (Mormon)
Muslim
American Baptist
Church
Convention
Church
Estimate
Churches in the USA
68.8%
Name
2.0%
1.8%
1.7%
Charismatic
Assemblies of
United
International Church of
Churches
God
Methodist
the Foursquare Gospel
Independent Adherents
1.3%
1.3% Other
Church 1.2%
1.0%
0.9%
20.0%
: http://www.city-data.com/city/Los-Angeles-California.html#ixzz0fxq2YGUd
Technical Advances Technical advances help our business provide a more efficient and faster way to helping customers and employees working at our store. As well as having, an organized store to find items effortlessly. Petite Chic will have P.O.S. systems in the cashier area to make paying quick and easy. Inventory Pro to help organize and facilitate inventory because it is all done through the computer. Our website will provide online shopping for our customers who are not in the area and want to
47
shop. We will also have a facebook and twitter to alert our customers when we have special promotions.
Environmental Issues Today most businesses to stay on top of the game must help or do something to help our environment. Donating money to a cause that helps save the environment or having an eco-friendly friendly business are some ways to help the environmental issues.
Impact Assessment Our business is not only here to help our customers but to also help the environment. We will keep track of our environmental footprint by the assessment of business operations to figure out what we need to change to be more environmental friendly. Keeping track of our energy usage, making sure we recycle everything that needs to be recycled. Lowering our carbon emission will also help to lessen the carbon footprint in the world. Teaming up with Global response to raise awareness of what is going on in our world, also to change what is happening to our environment
Sustainability We plan to use all recycled material for the entire store. There will be many skylights in the store. There will be many skylights in the store to create more lighting and trying to save as much money on electricity as possible. Instead of having paper receipts we will have electronic receipts we will have electronic receipts that are sent to your e-mail address, this will save a great deal of paper. Customers will receive a discount upon purchase when they bring back their bag.
LEED Compliance In order to have our business in LEED compliance we must follow the steps below to help us obtain the certification. The steps below are informative to help set a budget and also to get money back by having energy sufficient items and to have an environmental friendly business. “Set a clear environmental target. Before you begin the design phase of your project, decide what level of LEED certification you are aiming for and settle on a firm overall budget. Also, consider including an optional higher certification target -- a "stretch" goal -- to stimulate creativity. Set a clear and adequate budget. Higher levels of LEED certification, such as Platinum, do require additional expenditure and should be budgeted for accordingly Stick to your budget and your LEED goal. Throughout out the design and building process, be sure your entire project team is focused on meeting your LEED goal on budget. Maintain the environmental and economic integrity of your project at every turn. 48
Engineer for Life Cycle Value As you value-engineer your project, be sure to examine green investments in terms of how they will affect expenses over the entire life of the building. Before you decide to cut a line item, look first at its relationship to other features to see if keeping it will help you achieve money-saving synergies, as well as LEED credits. Many energy-saving features allow for the resizing or elimination of other equipment, or reduce total capital costs by paying for themselves immediately or within a few months of operation. Prior to beginning, set your goals for "life cycle" value engineering rather than "first cost" value engineering. Hire LEED-accredited professionals. Thousands of architects, consultants, engineers, product marketers, environmentalists and other building industry professionals around the country have a demonstrated knowledge of green building and the LEED rating system and process -- and can assist you in meeting your LEED goal. These professionals can suggest ways to earn LEED credits without extra cost, identify means of offsetting certain expenses with savings in other areas and spot opportunities for synergies in your project.” 26
26 www.nrdc.org 49
Marketing Strategy Plan Marketing Mix Image Petite Chic is committed to help petite modern women find clothing that fits them perfectly and that is chic at the same time. Petite women are an underserved market, these women are 70% of the United States Population.27 That is why we want to create a store for this particular kind of women. Our customer will have a wide selection of fashionable petite clothes. When our customer comes to Petite Chic, her expierence will be a personable shopping expierence, fit to her needs. If our customer is in need of a stylist, our salespeople are capable to style our customer appropietly and that flatters their shape. Our customer will have a good time, and feel like they are hanging out with one of their girlfriends. Customers will have salespeople cater to their needs and assit them with any concerns they may have. We have a broad selection of fashionable clothes to chose from at moderate price. Petite Chic only specializes in petite clothing this will help us to cater all the needs of a petite woman. Accessories and shoes are also sold in the boutique, so our customer can have a complete outfit in one stop. Free tailioring is provided for clothes that are not fitted perfectly for the customer, when a purchasing more than $50 dollars.
Product The product life cycle stages shows the diffrent cyles a product goes throughout time. Introduction means the period of slow sales, growth means acceptance of the product and sales increase,maturity is where sales start decreasing due to the acceptance of customers, decline is when sales fall off.28 Petite Chic’s products are going to be in the introduction period of the life cycle at first but will increase to the growth cycle shortly after being opened for a few months.
27 Bellapetite.com 28 Marketing an introduction 50
http://www.12manage.com/methods_product_life_cycle.html
Petite Chic caries everything needed to create an entire outfit, so our customer only has to make one stop for shopping. All the products we carry are listed in the chart:
51 Â Â
Womens Apperal
Accessories
Blouses and Tops (PeSte Chic,metrostyle,Varello,Tunix)
Belts (PeSte Chic)
Dresses and Skirts (PeSte Chic, allisonizu, Tamice)
Jewlery (Fsshion Bella)
Pants (PeSte Chic, Tle designs,Guirdano)
Scarffs (PeSte Chic)
Jeans (PeSte Chic,True Religon, 7 for all mankind, J Brand, joe jeans, chip and pepper)
Shoes (Cinderella of Boston, Bamboo, Novela,Sugar)
Shorts (PeSte Chic,Tle designs,Guirdano)
Under Garments (Lulalu)
Sweateres and Jackets (PeSte Chic, Fernanda Carnerio, Brazzen Hussy)
52
Price Price Ranges: We have a moderate to high price range because we carry some designer brands particularly in our jean section.
Blouses &Tops
Dreses &Skirts
Pants
Jeans
Shorts
Jackets & Sweaters
$19.95-
$29.95-
$39.95-
$29.95
$19.95
$39.95-
$59.95
$299.95
$199.95
$199.95
$39.95
$299.95
Belts
Jewlery
Scarffs
Shoes
Under Garments
$15.95-
$6.95-
$16.96-
$29.95-
$8.95
29.95
$39.95
$29.95
$59.95
$45.95
53
Price Zones 120 100
Inventory
80 60
Promo Volume
40
PresSge
20 0 $19.95
$39.95
$59.95
$99.95
$199.95
Price Zones
Price line: The depth of Petite Chic’s inventory is at the $39.95 to $59.95 price, as shown in the chart above. The volume of our inventory means that our store is at a moderate price for our products. Place: We will get our merchandise from Conrad C located in the fashion district of Los Angeles. Warehousing: We will keep our entire inventory in the backroom of the boutique or on the floor. Transportation: We will receive our merchandise via trucks from our vendor in downtown Los Angles to our location in Westside Pavilion Mall.
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Promotion Mix To get customers to know who we are, we will use different promotion mixes; advertising, sales promotions, personal selling, direct marketing and internet. We will use all of these various methods so we can get our name out there and customers will create traffic in our store. Advertising Strategy: We will use various paid commercials to get to our target market. Petite Chic will first use the pull strategy. The pull strategy means spending a lot of money on advertising to create a demand for the products. We will reach our customers in the store by advertising on the MyFm radio station, Los Angeles Times, flyers and Facebook. Direct Marketing strategy and means to build more of personable relationship with our customers we will use the following outlets: •
Twitter, have people tweet about our new business.
•
Google Buzz, start a conversation about our new business so people can ask us questions that they may want know about us.
•
Mailers send out mailers to our demographic in our area letting them know that we are now open.
•
Word of Mouth, telling other people about us so it can get around to others.
•
Facebook, creating a page for Petite Chic.
Public Relations becoming part of the community is very important to us. To help with the community we are going be part of the West Los Angles Small Business Association, help with community events and charities. Personal Selling and Sales Promotions, our staff is trained to listen effectively to customer’s interests and needs to help build a long lasting relationship with them and so the customers can inform others on our great customer service skills. Petite Chic will have different holiday and sales promotions they are listed below: •
Grand Opening Sale to create a buzz about our business 25% off everything you buy.
•
Valentine’s Day Sale $14 for selected items in the store.
•
Spring Sale, spring clothes are 30% off.
•
Summer Sale, summer clothes are 30% off.
•
Fall Sale, fall clothes are 30% off.
•
Christmas Sale, everything in the store is on sale on Christmas day for last minute shoppers.
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•
Birthday receive a birthday card and $20 off when purchasing $100 or more at the store
•
Send coupons to customers who shop at our store frequently.
•
Have special games and winner will receive the prize of customers gift certificates.
Internet Strategy and means through the internet and cell phones we can reach a large amount of customers by using E commerce in the form of Facebook and our own website. Using M commerce to help keep in contact with our customer, through a cell phone to send out text messages out to our customers about special promotions and events or have a special application in the cell phone that notifies customers about these items.
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Marketing Strategy Plan Tactical Plan 12 Months Prior to Opening Task
Jun 11
Jul 11
Aug 11
Sept 11
Oct 11
Nov 11
Dec1 11
Jan 12
Feb 12
Mar 12
Apr 12
May 12
June 12
Secure location Attain Permits and Licenses Make sure building is up to code Meet with fashion designer Meet with Vendors Meet with Interior Designer Start working on the interior Start contacting advertisers Have vendors send merchandise Set up POS systems and inventory control Hire Employees
Book Dj Build stage for fashion show Hire employees Last Minute items for grand opening Grand Opening
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June 2010 •
Receive loan for business, meet with Macerich to secure location at the Westside Pavilion mall. Review and sign all the papers required to obtain the location
•
Get Permits and Licenses. Obtain permits and licenses through online services at Cal gold and Los Angeles Chamber of Commerce.
•
Get insurance for Store, talk to various companies in the area to compare different prices.
July 2010 •
Make sure building is up to code, all the requirements are met for the store to be in business,
August 2010 •
Meet with fashion designer. Discuss what kind of clothes we want them to create for Petite Chic.
•
Meet with Vendors make sure they know what we need from them and build a relationship with them.
September 2010 •
Meet with Interior Designer, they need to understand what kind of vibe we want to have for the store.
•
Start working on the interior of the store.
October 2010 •
Start planning store grand opening; make sure we know what we need to accomplish for the stores Grand Opening.
November 2010 •
Meet with Advertisers, on what the ad should say or have on various advertising locations.
December 2010 •
Set up POS systems and Inventory Control systems
January 2011 •
Have Vendors start sending merchandise
February 2011 •
Book a DJ from the area to play at the Grand Opening
March 2011 •
Hire employees, Start looking for qualified personnel.
April/May 2011
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•
Build the stage for the fashion show.
•
Last minute items for the Grand opening get the banner, supplies for grand opening party. Get ribbon to cut at grand opening, order appetizers from La Salsa
June 2011 •
Grand Opening! Have the store open and ready to start selling.
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12 Months after Grand Opening Jun
Jul
Aug
Sept
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
12
12
12
12
12
12
12
13
13
13
13
13
13
Grand Opening th
4 of July in Santa Monica
Inventory Sale on Spring summer inventory (online)
Christmas Sale
New Year, New Clothes Sale
Valentine Sweepstake
Easter Sale
One Year Anniversary Sale
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Grand Opening Event Our store’s Grand Opening will be a fun and exciting event. There will be a cutting the ribbon ceremony.We will have a live DJ playing at our store playing the latest music. There will be a fashion show with petite models, modeling the lines we carry. Fun trivia games and activities will be played at the store with prizes of Petite Chic gift certificates. Appitizers and sparkiling cider will be served at the event. Atendees will recive goodie bags, filled with various sponsors free samples.It will be a socializing event and to get to know what are store is all about.
12 Months after Opening June 2011 •
Grand Opening
July 2011 •
Santa Monica 4th Of July, we will have a booth at the Santa Monica Pier with games and information about our new store.
September 2011 •
Inventory Sale on spring and summer Inventory (online only). Have a Sale on our website to get clear out our spring and summer inventory, everything is 50% to 60% off.
November 2011 •
Invite Only Sale; only selected customers will have a chance to attend this sale for winter merchandise 20% off before, it hits on the floor.
December 2011 •
Christmas Sale have a sale for late Christmas shoppers 30% off selected items
January 2012 •
Employee Evaluation to make sure employees are meeting the standards of customers and of our business.
February 2012 •
Valentine Sweepstake a Petite Chic customer and guest will win a dinner at a nearby restaurant. Customer must spend over $200 to enter the sweepstake.
April 2012 •
Easter Sale; 25% off dresses for Easter Sunday 61
June 2012 •
One Year Anniversary everything in store is 30% off.
Advertising, Reach and Frequency Budget Medium
Reach
Frequency
Size/type
Monthly Cost
Total Yearly
30 seconds 5000 flyers
$1,083 $600
Cost $12,936 $600
43 clicks per day 3x21
$900
$10,950
$1000
$12000
(people) MyFm 104.9 Flyers
22 Million 5000
1,034,940
Once a Month The month before opening Daily
Los Angeles Times
2.9 Million
Twice a Month
Pricing Plan Pricing Objectives Marketplace innovation, Petite Chic is an innovation because there are not many specific stores that cater to petite women. Company growth is our main goal in order to achieve success in our business venture. These two objectives will also help with the pricing plan to help our business achieve this goal.
Pricing Strategies To help our marketplace innovation and company growth we must use different pricing strategies to achieve this goal. Price skimming is going to determine how much our customer is willing to pay for our product, because it is a niche market. Our customers will be more willing to spend more money at our store since it is a unique store. We will also use psychological pricing by captivating our consumer by emotion selling as one of our strategies to achieve company growth.
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Markup Plan and Mark Downs Product
Mu%
MD%
MD% (30 days)
MD% 2 (60 days)
Blouses and Tops
300%
20%
10%
20%
Dresses and Skirts
300%
10%
15%
20%
Pants
400%
10%
10%
10%
Jeans Shorts
400% 300%
10% 20%
10% 10%
10% 20%
Sweaters and Jackets Belts
500%
20%
10%
10%
300%
25%
10%
10%
Scarves
300%
20%
10%
10%
Shoes Undergarments
400% 300%
10% 10%
10% 10%
10% 10%
Sales and Events Our store tries to limit sales to only special holidays and events.
Stock turnover Ratio 3.7, to get the ratio we divided the cost of goods sold with the average inventory at cost. We got 3.7 because our ratio is not going to be very high our first year of opening.
Terms of Payments Petite Chic will have 2/10 Net 30 with our vendors Pro-apparel and Conrad C, so this means that we will get 2% off our order if we pay within the 30 days of our invoice. We want to have a good relationship with our vendors, also save some money by paying at a faster rate.
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Distribution Plans Off Site Sales Petite Chic will offer the opportunity to those who do not live in the Los Angeles area to purchase clothes through our website and it will be delivered to them. The customer must spend over $200 dollars, to obtain free shipping; otherwise, they will have to pay the prices we pay for shipping as listed below.
Forms of Payments Our store will accept cash, debit cards, the only credit cards we will accept are visa and MasterCard because they have the lowest interest rate and they do not have a return policy.
Means of Shipping Carrier
Base Rate
plus each item
FedEx Standard Overnight (by 3:00PM*)
$17.00
$0.50
FedEx Priority Overnight (by 10:00AM*)
$22.00
$0.50
FedEx Priority Overnight Saturday
$34.00
$0.50
USPS First-Class Mail (3-10 days)
$0.00
$0.00
USPS Priority Mail (2-4 days average)
$6.50
$0.50
$17.00
$0.50
USPS Express Mail (1-2 days)
plus per lb UPS Ground
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Inventory Control/ Management Function Planning/Forecasting In order to have fashionable clothes we must figure out what will be in style for Petite Chic. This is important factor for our business to evolve and succeed. The owner will be responsible for the planning and forecasting. To forecast this, we will attend fashion shows such as LA Fashion Week, LA Fashion Market, LA Fashion Night Out and Simply Stylist. Attending trade shows in Las Vegas and in San Diego such as ASR Access, Project Las Vegas, Moda Las Vegas, Magic and Las Vegas Boutique. Fashion websites such as WSGN, Women’s Wear Daily, Pantone and Trendsetter will help us plan and forecast. Petite Chic will also survey our salespeople and customers on what they would like to see in our boutique.
Projecting Seasonal Needs/ Buying Resources & Procedures The owner will be in charge of projecting seasonal needs and the buying procedure. The seasonal needs for Petite Chic will not be a big change from each season, for the reason that Los Angeles is a warm climate all year round. We will provide clothes for the different seasons but less winter clothes since there is not much need in Los Angles for winter clothes. The owner will be responsible for the buying process. The owner will be communicating to vendors around the area and other locations for purchasing merchandise for the boutique. The first time buying for the store we want to buy a smaller inventory of everything. Seeing as we are still in the process of figuring out what will sell more at our location. The next time buying we will have a better understanding on what we need to purchase more of for Petite Chic. From then on, we will know what Petite Chic will need.
Trend Analysis and Resources The owner will be in charge of the trend analysis. We will use various resources to find the current trends in the fashion world. We will use websites, magazines, fashion shows, trade shows, competitors and newspapers to find out what are new trends. Using all these different sources will help us know what are the latest trends and styles, also what to buy for our customers. The various methods that we will use are as listed below: Competitors •
Macy’s
•
Nordstrom
•
Ann Taylor 65
•
Banana Republic
Fashion Shows •
LA Fashion Week
•
LA Fashion Market
•
LA Fashion Night Out
•
Simply Stylist
Magazines •
InStyle
•
Vogue
•
Bazaar
•
Elle
•
Life & Styles
•
US Weekly
•
People
Newspapers •
Women’s Wear Daily
•
Los Angeles Time ( fashion Section)
Trade Shows •
ASR Access,
•
Project Las Vegas,
•
Moda Las Vegas
•
Magic
•
Las Vegas Boutique
Websites •
Bellapetite.com
•
Trendsetter.com
•
Pantone.com
•
WSGN.com
•
PetiteFashionista.com Studying our competition will help us with managing our business. This will help us to 66
differentiate ourselves from our competitor and will help us improve our business. We will study our competition by using the S.W.O.T analysis to get a better understanding how our competitors manage their business and what works for them.
Tracking stock on hand We will use the Point of sale system POSmicro; this system will help us keep track of the merchandise that is bought. The owner, manager and assistant manager will be in charge of keeping track what is in stock and what we need to purchase. We will track the stock on hand quarterly since it is a time consuming process to accomplish it on a monthly basis.
Quality Control To certify merchandise is intact at Petite Chic we will have MSI Inventory Services come to our location twice a year. This will insure inventory correctly accounted for, monitor shrinkage and control inventory. The staff at Petite Chic will be in charge of hand counts, inspecting the clothes, before they go on the floor to confirm that all merchandise in the store is not damaged or is in poor condition to sell
Human Resources Taxes/ Accounting/ Records Keeping Our accountant Money Honey will handle money issues such as taxes, accounting and records.
Legal Our attorney Sue Happy will handle all legal issues that have to do with Petite Chic.
Hiring Process and Qualifications When hiring employees for Petite Chic they must meet certain qualifications. The qualifications are as followed: •
Has customer service experience
•
Must have a high school diploma or GED
•
Have flexible hours
•
No criminal background
•
Be able to be on their feet for a long period of time 67
•
Must be at least 18 years old
If the prospecting employee meets these minimum requirements, they will be called for an interview. During the interview process, we will then find out if the prospecting employer fits our customer demographic. This is a key element to the hiring process because if the prospecting employee does not match our customer demographic, this will not create the vibe we are trying to send out for our store. We will ask the interviewee a series of questions to find out information about the person and their work ethics. The questions will be: •
Where have you worked at?
•
How would you describe your personality in one word?
•
How do you handle a stressful situation at work?
•
What do you do when you have a problem with someone you work with?
•
What do you do if you have a difficult customer?
•
If you see another employee stealing what would you do?
•
What do you want out of your life?
•
Why do you want to work for our company?
After the interview, we will take time to compare others who also applied and then decide which person is best for this company and call their references to make sure they are who they said they were. Then we will notify the person if they received the job.
Training Plan and Procedure When training new employees we will teach them the procedures on how we want them to treat customers, how to use POS system, how to organize merchandise in the store and other important information to help run a smooth business. We will train employees by using demonstrations on how they should treat customers and how to organize merchandise; also, we will have on the job training on how to use the POS system.
Dismissal Procedure and Criteria If an employee is caught stealing or doing illegal acts while on the job, they will be immediately fired. An employer that is receiving many customer complaints, messing up often on the POS system, arriving late to work constantly or just being negligent at the job, there will be consequences for their behavior. 68
The dismissal process will be: 1. When employee’s actions become a problem, they will be first be notified by a verbal warning. 2. If the employee’s actions again become a problem after the first verbal warning, they will have a written notice stating that if they do anything again that is brought to owner’s attention they will be fired. The employee will have to sign this written notice. 3. The third time that an employee’s actions are brought to attention they will be fired.
Benefits and Qualifications Criteria Employees that have worked for over three months will be able to receive a 10% discount on a selected day every other month. In addition, employees that have worked more than six months at Petite Chic will be able to qualify for medical insurance provided by us. Insurance payment will be deducted from their paycheck.
Facilities Maintenance Janitorial All employees will be doing the janitorial duties. The opening employees will have certain tasks to accomplish as well as the closing employees. Opening employee’s tasks are: •
Arriving at 9am to organize merchandise in proper order
•
Stock items that need to be replenished
•
Clean windows
•
Organize mannequins
•
Make sure the store looks ready to open
Closing Employee’s tasks are: •
Vacuum floors
•
Put back all items, where they belong
•
Turn off all lights
•
Turn on security system
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Equipment IT Strategist Company will handle all electronic equipment problems and maintenance. Web Design LA will handle the maintenance for Petite Chic’s website.
External Janitorial Service Evergreen Cleaning Services will come once a month to clean carpets, polish floors, clean window and deep clean the bathroom, as well as stock the bathroom. Security Besides the security system that is at the mall, we will have our own ADT security system in the store.
Customer Service Complaints When a customer complaint arises, we will have a proper procedure to handle this matter correctly. Complaint Procedure goes as followed: 1. Sales Associate will listen carefully to the customer’s complaint and try to resolve it. 2. If the customer still has an issue, the sales associate will contact the manager or the owner to help resolve the problem. 3. The manager or owner will try and complacent the customer, so the customer can leave Petite Chic happy.
Returns Our store will accept returned items. The return policy is: 1. All sale items are final 2. Returned evening dresses are store credit only 3. Items can be returned 30 days after purchase with the receipt 4. Items purchased with a credit or debit card will be refunded to the card 5. Items purchased with cash will be refunded with cash
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Referrals In the situation that we do not have the item that the customer is, looking for we will refer them to another boutique that we know will have the item. We will also receive referrals from our customers to other customers.
After Sale Problems If a problem arises with the item purchased, the owner will deal with this matter. If there are more of the same items that are returned, there might be a manufacturing problem. The owner will have to contact the company where the items were purchased, to notify them the problem and to receive a refund from the company.
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Appendix 1. Abrams, Rhonda M. The Successful Business Plan: Secrets & Strategies. New Delhi : Prentice-Hall of India Private Limited: Planning Shop, 2006. Print. 2. "Apparel & Clothing Trade Shows in United States Of America." Trade Show Directory,International Trade Shows - Business Trade Shows,Trade Fairs,Events,Trade Exhibitions. Biz Trade Shows, 2010. Web. 06 Dec. 2010. <http://www.biztradeshows.com/>. 3. "Best Places to Launch a Small Business 2009 - Los Angeles, CA - FORTUNE Small Business." Business, Financial, Personal Finance News - CNNMoney.com. 2009. Web. 36 Jan. 2010. 4. "Business Permits." Cal Gold. California State, 2010. Web. 26 Apr. 2010. 5. "CalGOLD Permit Frequently Asked Questions Page." CalGOLD Home Page. 2010. Web. 02 Dec. 2010. <http://www.calgold.ca.gov/faqs.htm>. 6. Casey, By Chris. "Los Angeles History." Los Angeles City Guide | Hotels, Restaurants & Nightlife | Attractions & Real Estate. 2007. Web. 6 Feb. 2010. <http://www.losangeles.com/history/>. 7. Kotler, Philip, and Philip Kotler. Marketing. Frenchs Forest, N.S.W.: Pearson Australia, 2010. Print 8. "Los Angeles, California." Stats about All US Cities - Real Estate, Relocation Info, House Prices, Home Value Estimator, Recent Sales, Cost of Living, Crime, Race, Income, Photos, Education, Maps, Weather, Houses, Schools, Neighborhoods, and More. Adavmeg, 2010. Web. 8 Mar. 2010. <http://www.city-data.com/>. 9. "Los Angeles California Travel & Vacation Guide." California Travel Vacation and Recreation Guide. 2009. Web. 02 Dec. 2010. <http://www.go-california.com/Los-Angeles/>. 10. Los Angeles Public Library. Web. 02 Dec. 2010. <http://www.lapl.org/resources/>. 11. "Real Estate Market Reports - Zillow Local Info." Zillow - Real Estate, Homes for Sale & Real Estate Values. Zillow, 2010. Web. 12 Feb. 2010. <http://www.zillow.com/local-info/>. 12. Root, Hal, and Steve Koenig. The Small Business Start-up Guide: a Surefire Blueprint to Successfully Launch Your Own Business. Naperville, IL: Source, 2005. Print. 13. Steen, Francis F., ed. "A short history of los angeles." Thesis. Los angles UCLA, 2005. CogWeb. Web. 26 Jan. 2010. 14. . "Sales & Use Tax in California." California State Board of Equalization. State of California, 2009. Web. 20 Nov. 2010. <http://www.boe.ca.gov>.
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15. "Small Business Administration Local Resources." U.S. Small Business Administration-Your Small Business Resource. 2010. Web. 02 Dec. 2010. <http://www.sba.gov/localresources/index.html>. 16. State, By. "90064 Zip Code Profile." Free HOA Websites, Neighborhood Websites, Homeowners Association Websites, Condo Websites, and Community Websites - Neighborhood Link. Neigboorhood Link, 2010. Web. 02 Mar. 2010. <http://www.neighborhoodlink.com>. 17. "Strategy. Methods, Models and Theories." 12manage: All You Need to Know about Management. 2010. Web. 02 Dec. 2010. <http://www.12manage.com/i_s.html>. 18. Tax Information For Businesses." Internal Revenue Service. 5 Jan. 2010. Web. 30 Nov. 2010. <http://www.irs.gov/businesses/index.html>. 19. Timmons, Jeffry A., Stephen Spinelli, and Andrew Zacharakis. Business Plans That Work: a Guide for Small Business. New York: McGraw-Hill, 2004. Print. 20. Tiffany, Paul, and Steven Peterson. Business Plans for Dummies. Hoboken, NJ: Wiley Pub., 2005. Print. 21. Uner, By Jennifer. "LA Fashion Week October 2010 | FashionWeekLA.com." FashionWeekLA. 2010. Web. 08 Dec. 2010. <http://fashionweekla.com/2010/05/lafashion-week-october-2010/>. 22. "VALS™ | Strategic Business Insights (SBI)." Home | Strategic Business Insights. 2010. Web. 26 Mar. 2010. <http://www.strategicbusinessinsights.com/vals/>. 23. Zip look up." Http://www.claritas.com/MyBestSegments/Default.jsp. Nielsen. Web. 15 Jan. 2010 24. "ZIPskinny Demographic Information." ZIPskinny - Get the Skinny on That ZIP (demographics by ZIP Code). Web. 02 Dec. 2010.<http://zipskinny.com/state.php?state=CA>. 25.
89
WestPavillion Mall 90
Peti te Chi c
Store Front
91
Waiting Room Area
92
Price Range
93
Product
94