Académique Documents
Professionnel Documents
Culture Documents
I. Executive Summary 2
Company 3
Products & Services 3
Market Analysis 3
Strategy & Implementation 6
Management 6
Financial Plan 8
Sources & Use of Funds 8
II. Company 9
Legal Entity & Ownership 9
Facilities 10
I. Executive Summary
A. Company
Truth and dare plans to release its collection every three months due to
limited manpower and the process of production. Each collection varies, it
follows trends of the target market and it also follows big players in the fashion
industry. Truth and dare offers ready-to-wear clothes that are casual or semi-
formal. The designs are not some typical clothing you wear everyday, it is sexy,
bold, unique and trendy.
Fabrics used came from a market that sells different kind of fabrics that
are low in price or wholesale price. Truth and dare follows a seasonal pattern
in the philippines specifically manila when it comes to determining the next
fabric to use, for example it determines based on the weather or holiday. The
colors are determined by its popularity, the trending colors for the year or for
the season. Truth and dare usually pick 2 to 3 colors that blend well together.
C. Market Analysis
People nowadays are tech-savvy, specifically users in the Philippines
spend an average of 8 hours online. The population in the Philippines is said to
increase to 13% by 2021, that is good opportunity for businesses to sell more
products, and that goes for e-commerce businesses as well. There was study
that said 9 out of 10 filipino consumers shop online. These are 3 top reasons
why they shop apparel online: (1) Convenience (2) finding best or better prices
(3) brands or specific items are not available at the mall.
For the acting behavior of a person shopping online, statistics shows that
thursday and friday orders are above average while weekends are below
average. With that said, people are most likely shopping online for them to use
on weekends. The mostly order online on weekdays especially thursdays and
fridays, most probably is because they have this urge to buy something as stress
reliever, but there are other explanations why.
Common belief is that people tend to shop during payday but statistics
shows that payday doesn’t significantly give impact sales. Several reasons for
this are people most probably spends it to some other leisures like restaurants
and movies, especially in filipino culture. So having a payday promotion will be
just an unnecessary cost. It will also be better to have a marketing on
weekdays than spending on advertisements on weekends when the shopping
behavior is low.
The strategy of truth and dare is to meet all goals within one year, with
putting all the effort at their marketing plan. Truth and dare will have an
effective and manageable supply chain so the process of everything will go
smoothly. Also, the company will carefully list down all costs to avoid any
miscalculations and to use the money wisely. The inventory management of
the company will be handled by a specific person to to avoid confusion and to
examine the quality properly. As for the different departments inside the
company, each should stick with their department for direct and proper
communication.
E. Management
CEO CEO
Jax Murata Quennie
Ramirez
Sales Materials
Customer shipping
1. CEO - will be responsible for day-to-day decisions for the each department in
the company, leading employees, doing research and product development, set
strategy and direction, form contract partnerships, set up work ethics and
culture and allocating capital to the company’s priorities.
2. Marketing - it’s responsible for managing the brand, keep track of sales,
managing customer feedbacks, keep the advertising on flow, create content for
website and social medias, serves as media liaison (who speaks for the
company), conducts customer and market research.
F. Financial Plan
Our company will earn revenue from our customers’ purchases of our
products. Booming Boutique’s first-year income statement illustrates a profit
margin of at least fifty-two percent, with a net income of $44,075 per month –
after taxes. Finally, we have determined our break-even point will equal no
less than $15,500 in total monthly sales. We project our annual profits to reach
$380,000 by year three.
Our company will generate revenue from the retail sale of clothing and
other merchandise. First year sales are projected to be $285,000, and we
expect sales to surpass $525,000 by the end of year three. We will achieve
month-to-month profitability within the first year.
● Sample making & Mass production - Before doing the clothes that the
company will sell, Having samples is a must. This is for cases of adjustments on
the design. Prices of the sample making is negotiable between the seamstress
and the company. Mass production is the making of the products that will be
sold, price of the labor is cheaper since its mass.
● Marketing implementation - The fund is needed here for the company’s brand
awareness. There are media channels that the company uses that are free but
huge channels have charges. Building a website, posting ads on social media
and some efforts that are listed at the marketing strategy are uses of funds.
● Staff - Soon enough the company will hire a website master for detailed
platform of the company’s website. So far, employees are not yet needed in
truth and dare.
II. Company
B. Facilities
The business plans to enter the online platform first, to gain loyal
customers, and then hopefully move into a bricks-and-mortar store in the
future. Truth & Dare can be found in the following social media platforms:
Instagram, Youtube, Facebook, and also our very own website.
Instagram will serve as the temporary sales venue and will also feature
the design portfolios. Youtube will be used to spread more awareness about the
brand, to inspire people, and to share additional fashion content like styling
and ootds. Facebook is where the brand will be sharing all contents from
Instagram and Youtube. It will be used more for marketing.
For now, the business will be offering sizes from XS to XL. But Truth &
Dare will try to expand the categories once we’ve settled in the market. In
addition to this, the business will always be ready to entertain fashion inquiries
and advices from our customers. These are things such as styling, color
coordinations, event appropriations, etc.
B. Competition
In terms of affordability: Truth & Dare offers the most affordable pricing
among the four contenders, while Suzy Clothing is more costly. Bonita The
Label and Huna Official offers mid price designs.
In terms of uniqueness of designs: Truth & Dare offers the most unique
pieces with Suzy Clothing as a runner up. Bonita The Label and Huna Official
are more on trendy pieces that are offered in various fabrics.
C. Competitive Advantage
Truth & Dare believes that providing unique clothing designs that are
more affordable compared to competitors is their primary competitive
advantage in the market.
The business provides trendy designs for each season and can adapt to
individual styling. So much value is also placed in product quality and customer
service. This would help us be the first choice of 20-25 years old working
women when they want unique, fashionable, and affordable designs.
D. Development
As Truth & Dare grows and the business gets to attract a hefty amount of
loyal followers, and a positive financial report. The business plans to expand
sizes options to cater to a wider variety of body shapes. In addition to this,
Truth & Dare also plans to expand product lines to swimwear, sportswear,
lingerie, accessories, and more.
Once the financials are applicable for expansion, Truth & Dare plans to
open up bricks-and-mortar stores in various locations in the Philippines. Both
partners are also open to expanding internationally once the opportunity
presents itself.
A. Target Customer
Truth and Dare targets women ages 20 - 30 years old, in this age some
are starting to be more independent from their parents, some still lives and
getting budget from their parents and some actually have a career already and
living independently that has actual savings and earnings already.
Women that are outgoing has a motive to buy something for the event or
simply something new to show to the people like friends or family, unlike
women that are not really outgoing and would rather stay inside doesn’t really
need to buy some clothes, and their buying habit when it comes to buying
clothes online is rarely. Truth and dare also targets a market that follows a
trend or who cares what has been happening to the world especially when it
comes to style trends, since the company have the proposition of offering
designs that are in and updated.
B. Market Size
12,000,000 women
in manila
1,000,000
20-25 yrs old
Women
Interested in online
shopping
C. SWOT Analysis
1. Strengths
a. Experience and understanding of the fashion industry
b. Fast research about fashion trends international and national
c. Online store which means lesser costs than having a physical store
d. Large and growing consumer base
e. Owners have knowledge about running a business
f. Have connections to international models
g. Buys fabric at a market that offers low prices
h. Growing followers on facebook and instagrams
i. Online store is open 24 hours, 7 days
j. Have the customer experience a personal care from owners when
purchasing a product
k. Have a return/exchange policy
l. Have limited designs and quantity (easier to track inventory)
2. Weaknesses
a. Haven’t registered the business yet
b. Not enough capital yet
c. Haven’t registered the website yet
d. Haven’t found a contracted seamstress for the company
e. Competitors can easily copy designs
3. Opportunities
a. Rapidly growing of e-commerce in the Philippines
b. Some companies can use truth and dare as their advantage to sell
their products
c. Strong business to business networking
4. Threats
a. Low barrier
b. Easy to copy designs online and sell it at a lower price
c. Have established big clothing store websites
A. Collection Timeline
For every season, there are assigned tasks that must be completed.
***Add: Marketing Schedule for fb. instagram. facebook. youtube and layout.
B. Production Strategy
1. Trend Report
2.2 Materials: Materials to be used & Sketches must indicate where each
material is used
1. Interview videos
The goal of this is to show to the audience that truth and dare is
building and supporting some awareness, also to promote their brand
tagline: “Be true to yourself and dare to be different”. Here are the
topics that needs to be done:
- Body shaming, insecurities, having confidence
- What is fashion for you?
2. Partners
Truth and dare will look into sub partners that have products like
accessories, shoes, any many more brands. The goal is to promote each
other, to gain more viewers and to increase brand awareness.
3. Giveaway
Have some personalized product or any products that is somewhat
connected the company, and conduct a giveaway post on facebook,
twitter and instagram. The goal here is to promote the brand because
people will share and tag just to get the chance of winning the
giveaway.
4. Video
- Have a runway on the spot wearing truth and dare clothes. This
will grab attention will be a talk of people.
- How-to wear the truth and dare clothes. How-to style it video
- Video about the owners of truth and dare, their story on how did
they come up with the brand, what is the goal etc.
- Interview video for awareness
- Showcasing each design
5. Bloggers
- Find starting filipina fashion bloggers
- Share the mission vision
- What do you love about the designs
- Share social medias
- Share websites
- *attach list of fashion bloggers
7. Newsletter
Email marketing is most trusted form of communication with 77%
of consumers choosing email over other online channels. There have
been claims that email marketing is not effective anymore yet 80% of
marketers report email as the strongest performing media buy.
● Connect email newsletter to website
8. Runway Events
- Tease the season collection
- Squad collection
- Summer collection
9. Influencers
Work with influencers like fashion vloggers and bloggers that has a
strong follower base already. Ask to review, tag or wear the truth and
dare merchandise. Having influencers will get new audience and if the
chosen influencer is correct, then the company will gain new customers
and the blogger will create content for you. Depending on the
collaboration, they will share custom content on their blog, social
channels, and you (the brand) may also get the opportunity to use the
content they produce.
● Have a list of potential fashion bloggers and youtubers
10. Interaction
Get the company’s market to join and build a community together.
Encourage your audience to share content based on your brand values to
foster engagement and reinforce those values. For example, the
company can run a contest on facebook like “submit and post a picture
of yourself looking confident” and have a fixed hashtag and they can win
something.
● Have a list of contests and prizes
11. Birthday
Remember the customer’s birthday to gain loyalty and brand
awareness.
D. Sales Strategy
New year: “New year, New you” share a post on how to style yourself for
the new year. Have a discount
This would start by asking for an after sales feedback regarding the
service quality; what the business is already good at and what needs
improvement.
Customers wearing Truth & Dare products (with their approval) will also
be shared to our online platforms. This would encourage them to be proud of
the products that they have, and would make them share to their contacts that
they have been featured by a business.
In line with this, Truth & Dare also has a membership or loyalty card
where customers get to receive a special gift, after a number of pieces
purchased.
F. Goals
These are the goals of the company within the year 2018.
G. Exit Strategy
Here are the top options that the company can do for everything they
own in the future.
● The liquidation - A feasible method that the owners can do. To sell
assets, equipment and for the owners to split equity. Either sell assets to
customers, competitors and suppliers or in an auction.
Advantage: A simple and clear solution.
Disadvantage: will not get anywhere near the full value of the
company. Buyers know that the company needs to sell quickly, it
will be hard to get good prices of the assets.
● Sell it to a friendly buyer - Truth and dare can sell to one of their
existing managers or a group of employees.
Advantage: It can be a great continuity of the business. These
people knows the company well that they can pursue some
strategy on how to promote the business.
Disadvantage: The buyer can not continue the values and goals of
the company. The employees in the company for so long could be
laid off.
H. Inventory Management
A. Requirements
Truth & Dare will be starting off with a 200, 000 php capital. Both co-
owners, Quennie Ramirez and Jax Murata, have agreed to invest 100, 000 php
each into Truth & Dare.
B. Use of Funds
A 100% profit increase is assigned, which is why Price doubles the Cost
amount. For a total quantity of 72 pcs. for the Rainy Season Collection, the
Revenue would be 72,000 pesos.
Sample Making Expense and Marketing Expenses are the only ones under
Expenses since other expenses are already included in the product cost. With
72,000 as Sales Revenue and Total Expenses as 20000, this would lead us to a
Net Income of 52,000 pesos. This would mean positive outcomes for our Income
Statement, if Profit Percentage is higher than 50%.
This type of computation is similar to the two other seasons which are
the Cool Dry Season and the Hot Dry Season. One can refer to the Financial
Projections Excel attached in the Supporting Documents to gain access to all
three projections.
A. Articles of Partnership
https://docs.google.com/document/d/1H2W0j_e1LWjPjNJgShaYzgzbDyKl_6iVo
AX7-qoePVk/edit?usp=sharing
B. Collection Timeline
https://docs.google.com/spreadsheets/d/1aKYZVUOfZqxYFaMekye6QKwCAOSdbMRb
mk7KJOvRc9g/edit?usp=sharing
C. Collection Template
https://docs.google.com/document/d/1r6Opvr4n8-
kcUnFVtXpxCzH7R9gYs_WA6mH06XINeQQ/edit?usp=sharing
D. Design Template
https://docs.google.com/document/d/1yGdFGi4L_LDM-L6idlgQ2_Y-6c5-
RD8igiFbSo3jr44/edit?usp=sharing
E. Online Platform
https://docs.google.com/spreadsheets/d/1uBjfzeR-
JRK4iOSiTcNh6ABiJNcioiV8u0pBQ-p1_9Y/edit?usp=sharing
F. Financial Projections
https://docs.google.com/spreadsheets/d/16MLPfEF4mKIwsQPbsLXbDOLC5XmNmkI6k
SsJNBXmRaI/edit?usp=sharing