Create a socially responsible business concept that includes appropriate legal structure, management infrastructure, and sources of financing, and all elements needed for a start-up venture.
Mission
Cycle Chic aims to empower women and contribute to sustainability goals through resale. We make fashion environmentally conscious and affordable for all budgets and believe that anything can be accomplished with the right wardrobe. Our strategy to achieve our mission is by providing a new shopping experience through our inventory change every time our customers stop by and make them feel like they're shopping at a friend's closet.
Vision
Our vision at Cycle Chic is to grow our community that loves to give back and set an example to become a conscious consumer to contribute to the recycling process and help build a solution to the problem of the fast-fashion crisis. We hope to achieve our mission through excellent customer service, service to our local community and spread awareness about the importance of shopping resale through our social media platforms.
Triple Bottom Line
Financials
Business Concept + Organizational Structure
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Cycle Chic will offer consignment of like-new, gently used designer clothing, shoes and accessories for fashion and environmentally conscious women by making it a simple and fun experience. Our goal is to eventually enter the e-commerce business model depending on success and demand
We will be a brick and mortar business, approximately 4,500 SQ FT space, located in Fort Lauderdale, Miami, Florida.
As a new business, our team starts relatively small, 5 team-players in total.
Manager: Owner and drop-off specialist. Knows exactly what the business is about, how to run it and knows what's in demand
Assistant Manager: MOD and drop-off specialist when the owner is absent. Knowledge of the business concept
Visual Merchandiser: Makes sure the store looks attractive and easy to navigate with the main goal of increasing sales
Two Sales Gals: Responsible of the register, putting new arrivals on the sales floor and provides quality customer service
Goods & Services
Cycle Chic is a seasonal consignment shop. Consigners do not have to make an appointment, they can stop by any day all day up to one hour before we close. We accept modern women's clothing, shoes, and accessories which all must be brought in cleaned and on hangers. It's a 40/40% split between the consigner and the store of the final selling price and remaining profits go to local charities of your choice. Items stay on the floor for a 60 day period, and if they don't sell within the period, they automatically get donated. If it's priced over $100, consigners have the option to schedule an appointment to pick up their item once the consignment period is over. We highly suggest checking out our website to see what season we are currently taking as well as styles and brands we do not take. Items will be priced about 20 to 30% of its current retail price.
Styling Services
Help our customer look and feel their best every day by hand-selecting pieces based on the profile provided.
Consultation is free / Service $50
Closet Clean Out
Guide our customers by engaging in a fun activity where they declutter their closet: KEEP, DONATE, CONSIGN.
Service $70/hr
Wardrobe Styling
Consult out customers and put outfits together based on the needs of the customer while using our inventory.
Consultation is free / Service $50
Merchandise
Clothing, shoes, and accessories will vary depending on the brand. The price range will be divided into 5 tiers: tier 1 will be between $9.99-14.99. Tier 2 will be between $15.99-20.99. Tier 3 will be between $21.99-29.99. Tier 4 will be between $30.99-45.99 and tier 5 over $50.00
Target Market
The ideal customer that shops at Cycle Chic are highly concerned and involved in activities that help the community become more sustainable. My target customer longs to feel accepted, loved and like it’s part of a group or community, almost sorority-like. She’s constantly trying to achieve balance in her life as they too are caring for kids, aging parents and the world at large. My target customer contains women striving for their dreams. They seek to achieve goals and are drawn to those who offer words of encouragement and a friendly personality.
