Expanding Your Business

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Student’s Name Instructor’s Name Course Details Date A Small Retail Clothing Shop In the 21st century, many people pay a lot of attention to their image. Products aimed at improving the image of people get highly sought after in contemporary times. Starting a business that deals with image improvement products such as makeups, apparels, and ornaments is a worthwhile endeavor today worth all the time and resources one can get. Having identified the niche of investment, going for a small retail clothing shop for a start would provide one with an avenue to tap into the billion dollar industry. Sound financial decisions need a thorough evaluation before getting started. A financial plan, a marketing strategy, and a business location would help one decide if an intended business can survive the competition. Also, there are plans to expand the business in future if the first try turns out as expected. Financial Plan Financial plans exist to aid in the analysis of the starting cost, running cost, and profits after starting a business. There are three steps to an economic idea that is the planning phase, operating phase, and profit phase. The start-up budget for a small retail store that stocks highly sought after fashion items would require an input of roughly $500,000. The estimated startup include single off expenses, monthly charges, goodwill value of the shop, and the stock. A breakdown of the startup expenses is as shown below. Start-up Budget Monthly Expenses Projected Monthly Expenses Salary Lease Marketing Maintenance Permits Electricity Shop Upholstery Goodwill Insurance Stock

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