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Bridal Gown Shop Business Plan

3 March 2023 Businnes Plan


Bridal Gown Shop Business Plan


Recycled dream is a Portland-based rental shop for bridal gowns and accessories. Recycled Dreams is owned and operated by Connie Jugal. They will fill the gap in the market for formal wedding attire that is rented instead of purchased. Traditionally, bridesmaids are required to purchase their gowns for the wedding. However, they do not have any input on the design of the dress. They are told exactly what dress they need to purchase. More often than not the dresses are horrendous looking and after the occasion they remain in the closet collecting dust indefinitely. People should have the option to rent a gown, as the dress can only ever be worn once. This makes the event far more cost effective, yet just as fashionable. The event is now open to both men and women.


The Services

Recycled Dreams can rent dresses, shoes and headpieces. The dresses can also be purchased by the bride or other guests if desired. The majority of customers will be happy to rent these limited-time pieces of clothing. In addition to providing the wedding party will the ability to rent all the necessary clothing pieces and accessories, Recycled Dreams has established strategic partnerships with top-flight local wedding related service providers such as invitations, flowers, catering, and photographers. Recycled Dreams provides a one-stop solution for wedding guests. All preparations can also be completed at Recycled Dreams. Recycled Dreams receives a referral commission, creating an additional revenue stream.


The Market and Competition

Recycled Dreams is targeting two market segments: the parents and the bride. Couples as a market segment is growing at 9% a year with 114,584 potential customers, and the parents of the couple have a 8% growth rate with over 112,000 possible customers.

Recycled dream’s faces competition from traditional wedding shops that sell the product. Recycled Dreams recognizes that these shops are competition, but they see them as indirect competitors. Recycled Dreams also believes that renting the dresses is a great value-added service. There are currently no other Portland-based bridal rental services. This is a new concept. It has been proven to be a huge success in San Francisco. Recycled Dreams will offer it in Portland.


Competitive Edge

Recycled Dreams enjoys two key competitive advantages which will allow them grow their customer base quickly and validate this concept. The first is the fact that bridal wear for women can be rented, just as men’s tuxedos. This is particularly intuitive since the dresses are only worn once. While some may feel there is a stigma associated with renting clothes by women, it is impossible for anyone but the renter to tell that the dress they are wearing was rented. Their second competitive edge is their benchmarked customer service. Recycled Dreams regards their role in the whole process as holding the client’s hands and walking them through it, meeting all their needs. This philosophy is embedded in the whole organization.


Management

Recycled Dreams is a great company. They have a experienced founder and manager that will lead them to success. Connie has many years’ experience in retail management. Connie’s experience includes managing multiple stores for the Salvation Army. Connie was a manager and responsible for achieving growth rates of 46% per store each year. Connie will make Recycled Dreams a success by leveraging her vast industry experience.

Recycled dreams is an innovative concept. It acknowledges that most bridesmaid dresses aren’t the most elegant, are expensive and are almost never worn after the wedding. Recycled Dreams should be profitable by the 10th month. They will see healthy sales for the first year, and more that doubling by year 3.

1.1 Objectives

The following are the three-year objectives.

  • To create a service-oriented company that exceeds customer expectations.
  • Superior service and increased clientele will allow us to increase our clients’ numbers by 20% per annum.
  • To develop a sustainable start-up business providing cost effective bridal dresses.

1.2 Mission

Recycled dreams’#8217 mission is to offer cost-effective use of bridal gowns and accessories for weddings.

Our services will exceed the expectations of our customers.

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