Shoe Store Executive Summary

Online Shoe Store Business Plan – Executive summary

M & N Shoe Store, Inc. is a standard and registered shoe store business that is located at Mississauga, Ontario. M & N Shoe Store, Inc. will have men’s shoes, women’s shoes, men’s athletic shoes, women’s athletic shoes, children’s shoes, slippers. We have our small manufacturing unit in Mississauga. We are aware that there are several large and small chains of shoe store outlets all around Canada which is why we spent time and resources to conduct a market research compete with all our competitors. After doing research we came to a conclusion that we should sell our product at online.

Company description

Name: M &N Shoe store Inc.

Product: Footwear’s

Location: Mississauga, Toronto

Website:

Our product offerings are listed below;

• children’s shoes

• athletic shoes

• men’s casual and formal shoes

• women’s casual and formal shoes

• slippers and other shoes

OUR BRAND NAME IS M & N

SWOT Analysis

Strength: Our location, the business model, we will be operating on both (physical store and online store); varieties of payment options, wide range of footwear and our excellent customer service culture are our strengths.

Weakness: A major weakness that may count against us is the fact that we are a new shoe store outlet in Mississauga and we don’t have the financial capacity to compete with multi – million dollars shoe store outlets in Canada.

Opportunities: our location provides us with unlimited opportunities to sell our shoes to a large number of individuals and corporate organizations.

Threat:

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power.

MARKET ANALYSIS In recent time, the shoe stores landscape has seen big changes in the last 20 years; it has grown from the smaller outlets to a more organized and big

We have competitive price as compare with other shoe outlets. As the retail store offer expensive shoes. As we are providing product at online so we offer low price.

Payment Options: bank transfer, credit and debit card, mobile money transfer

WEB PLAN:

We are selling our products at our official website that is www.mnshoestore.ca. We design our web page named M &N Shoe store professionally. Customer can see the pictures and prices of various products and register themselves and purchase it online. Our regular customer gets special discounts on purchasing. We will deliver the product to customer on specific time which is online mentioned when they make an order. Our mobile app is M&N Shoe store app. Customer can purchase product here also. You just have to download the app from Google Play Store and register there.

BUDGET: after doing research we find that we would need an estimate of $750,000 to successfully set up our shoe retail store in Mississauga. Which includes the cost of launching a Website: $600 and Marketing promotion expenses $3,500

EXPANSION