FREE VERSION OF GROWTHINK’S
ULTIMATE CLOTHING STORE BUSINESS
PLAN TEMPLATE
[Company Logo]
(if applicable)
[Company Name]
BUSINESS PLAN
[Current Month], [Year]
[Name]
[Title]
[Company Name]
[Address 1]
[Address 2]
[City, State Zip]
Tel: [ ]
Fax: [ ]
Email: [ ]
Website: [ ]
CONFIDENTIAL
No offering is made or intended by this document. Any offering of interests in [Company Name] will be
made only in compliance with Federal and State securities laws.
This document includes confidential and proprietary information of and regarding [Company Name]. This
document is provided for informational purposes only. You may not use this document except for
informational purposes, and you may not reproduce this document in whole or in part, or divulge any of its
contents without the prior written consent of [Company Name]. By accepting this document, you agree to
be bound by these restrictions and limitations.
[Company Name] Business Plan
PLEASE READ THIS FIRST:
NOTE: this is the Free version of Growthink’s Ultimate Clothing Store
Business Plan Template. Much of the information from the paid version,
including the integrated financial graphs and charts have been removed
from this version.
The real version of Growthink’s Ultimate Clothing Store Business Plan Template
is much more than a fill-in-the-blanks template.
That template professionally guides you step-by-step so you can quickly, easily
and expertly complete your business plan.
Perhaps most importantly, it includes complete financial projections. You simply
enter some numbers (for example the # of products/services you expect to sell
and the price), and Growthink’s Ultimate Clothing Store Business Plan Template
automatically builds your 5-year Income Statement, Balance Sheet and Cash
Flow Statement. This service alone would cost thousands of dollars if you hired
an accountant to complete it for you.
To upgrade to the full, paid version of Growthink’s Ultimate Clothing Store
Business Plan Template, please go to
https://businessplantemplate.growthink.com/clothing-store/
[Company Name] Business Plan Page 1
I. Executive Summary
Key Questions to Answer:
• What does your business do?
• What market need does your business solve?
• What are 4-7 reasons why your business will be successful?
• How much capital, if any, are you seeking for your business?
Sample from Growthink’s Ultimate Clothing Store Business Plan Template:
[Company Name], located at [insert location here] is a new clothing store specializing in women's
wear, including misses', juniors', plus size and maternity clothing. The company will be
conveniently located next to [other business] in a shopping area accessible to the center of
[location] and nearby towns. [Company Name] is headed by [Founder’s Name], an MBA
Graduate from XYZ University with 20 years of experience managing retail stores.
Services
[Company Name] will focus on fast fashion, and maintaining an on-trend image. It will have a full-
time assistant who, among other things, will focus on assisting customers, maintaining clean
facilities, and merchandising.
The founder, [Founder’s Name], will also focus on updating inventory and maintaining a trendy
and welcoming environment.
[Company’s Name] will stock outerwear, dresses, bottoms, tops, and accessories.
Customer Focus
[Company Name] will primarily serve the residents within a 20-mile radius of our location. The
demographics of these customers are as follows:
● 27,827 residents
● Average income of $74,700
● 58.9% married.
● 49.6% in Mgt./Professional occupations
● Median age: 38 years
[Company Name] Business Plan Page 2
II. Company Overview
Company Profile
• Where are you located?
• When were you formed?
• What is your legal entity form?
Company Vision/Mission Statement
• What goals is your company trying to achieve?
Past Accomplishments
• What successes has your company already achieved?
Sample from Growthink’s Ultimate Clothing Store Business Plan Template:
[Company Name], located at [insert location here] is a new clothing store specializing in women's
wear, including misses', juniors', plus size and maternity clothing. The company will be
conveniently located next to [other business] in a shopping area accessible to the center of
[location] and nearby towns. [Company Name] is headed by [Founder’s Name], an MBA
Graduate from XYZ University with 20 years of experience managing retail stores.
While [Founder’s Name] has been in the clothing store industry for some time, it was in [month,
year] that she decided to launch [Company Name]. Specifically, during this time, [Founder] met
with a former friend and fellow apparel store owner in Fort Lauderdale, FL who has had
tremendous success. After discussing the business at length, [Founder’s Name] clearly
understood that a similar business would enjoy significant success in his hometown.
Specifically, the customer demographics and competitive situations in the Fort Lauderdale
location and in his hometown were so similar that he knew the business would work. After
surveying the local population, [Founder’s name] went ahead and founded [Company Name].
[Company Name] Business Plan Page 3
III. Industry Analysis
Market/Industry Overview
• In what market(s) do you compete?
Market/Industry Trends
• What are the key market trend(s) and how does that effect you?
Relevant Market Size
• How large is your relevant market (the # of customers who can realistically
buy from you)?
Sample from Growthink’s Ultimate Clothing Store Business Plan Template:
The Clothing Store industry is strongly correlated with household income. Last year, according to
IBISworld.com, industry revenues fell as mall foot traffic declined and online competition
increased, declining by 3.1% to $5.3 billion. Revenues are expected to continue to decline in the
next few years, to total $38.4 billion.
The industry is highly fragmented, with the majority of operators operating on a local or regional
scale. In 2020, the top four industry companies are expected to account for 13.5% of industry
revenue. In fact, Ascena Retail Group Inc. is the only operator expected to control more than
5.0% of the market. The Clothing Store industry is forecast to retain a low market share
concentration over the five years to 2025.
The market served by the clothing store industry are primarily adult women. This market can be
further divided by household income: the lowest income quintile accounts for 7.8% of industry
revenue, while the second, third and fourth quintiles account for 15.3%, 16.7%, and 20.2%
respectively. The highest income quintile typically consists of women aged 35 and over, who
value brand recognition. This segment accounts for the remaining 40% of industry revenue.
[Company Name] Business Plan Page 4
IV. Customer Analysis
Customer Needs
• What are the key needs of your target customers?
Target Customer Profile
• Who are your target customers? Give a detailed demographic profile.
Sample from Growthink’s Ultimate Clothing Store Business Plan Template:
[Company Name] will serve the residents of [company location] and the immediately surrounding
areas as well as those who work in [company location].
The precise demographics of the town in which our location resides is as follows:
[Company Name] Business Plan Page 5
V. Competitive Analysis
Direct Competitors
• Who are your direct competitors? What are their strengths and
weaknesses?
Indirect Competitors
• Who are your indirect competitors? What are their strengths and
weaknesses?
Competitive Advantage
• What are your competitive advantages? Are these sustainable (can
competitors emulate them)?
Sample from Growthink’s Ultimate Clothing Store Business Plan Template:
The following Women’s Clothing stores are located within a 5-mile radius of [Company Name],
thus providing either direct or indirect competition for customers:
Patty’s Ladies’ Wear
Established in 2010, Patty’s Ladies’ Wear retails women’s clothing. The retailer carries some of
the hottest designers and collections, including Frank Lyman, SPANNER, Tribal and more. It
offers pants, dress, blouses, and accessories for everything from casual weekend wear to elegant
evening wear. Patty’s carries sizes 4 through 18.
Simone-Brier
In business for nearly 30 years, Simone-Brier is a specialty women’s boutique offering a variety of
well-known global fashion brands, as well as national fashion brands in sizes 2 to 16. Handpicked
by owner Kacey Johns, the collection is forever changing, while maintaining its signature classy,
casual, and trendy elements.
[Company Name] Business Plan Page 6
[Company Name] Business Plan Page 7
VI. Marketing Plan
Branding
• What is your desired brand positioning?
Promotions Plan
• How do you plan to promote your company’s products and/or services?
Sample from Growthink’s Ultimate Clothing Store Business Plan Template:
The Marketing Plan describes the type of brand [Company Name] seeks to create and the
Company’s planned promotions and pricing strategies.
The [Company Name] Brand
The [Company name] brand will focus on the Company’s unique value proposition:
● Customer-focused service, where the Company’s interests align with the customer’s
needs.
● Service built on long-term community relationships.
● Chain store expertise in an independent store environment
Promotions Strategy
Flyers: [Company name] will invest time and energy into contacting potential clients via flyers. In
order to improve the effectiveness of this phase of the marketing strategy, flyers will be placed so
as to target individuals in areas that are most likely to be interested in fashion. As this can be a
time-consuming process, it will primarily be used during the startup phase to build an initial client
base.
Referrals: [Company name] understands that the best promotion comes from satisfied
customers. The Company will encourage its clients to refer their friends and family by providing
coupons for every new client produced. This strategy will increase in effectiveness after the
business has already been established.
[Company Name] Business Plan Page 8
VII. Operations Plan
Key Operational Processes
• What are the key operational processes that your organization needs to
accomplish on a daily basis to achieve success?
Business Milestones
• What milestones will you need to accomplish over the next 1-3 years in
order to achieve success?
Sample from Growthink’s Ultimate Clothing Store Business Plan Template:
In order to execute on [Company Name]’s business model, the Company needs to perform many
functions including the following:
Administrative Functions
● General & administrative functions including legal, marketing, bookkeeping, etc.
● Sourcing suppliers and managing supplier relations
● Hiring and training staff
Retail Functions
● Floor sales and customer service
● Writing and producing copy for featured manufacturer’s “stories”
● Janitor/maintenance personnel to keep the store clean.
[Company Name] Business Plan Page 9
VIII. Management Team
The Management Team section of the business plan must prove why the key company personnel
are “eminently qualified” to execute on the business model.
Management Team Members
• Who are the key members of your management team?
Management Team Gaps
• Who do you still need to hire?
Sample from Growthink’s Ultimate Clothing Store Business Plan Template:
[Company Name]’s most valuable asset is the expertise and experience of its founder, [Founder’s
Name]. [First name] has been managing retail stores for the past 20 years. She has spent much
of his career working at [company name] in roles with progressively greater responsibilities. She
spent the more recent portion of her career at a boutique retailer, where customer satisfaction
doubled in 8 years. [Name] has acquired a reputation for success and has earned the respect
and trust of her peers. Prior to working in the clothing store industry, [name] worked for [company
name], and earned her MBA from [X University}. She began her career as an intern at [company
name] in [city].
[Company name] will also employ an experienced assistant to help with various administrative
and customer service duties around the store. [Assistant’s name] has experience working directly
with customers.
[Company Name] Business Plan Page 10
IX. Financial Plan
Revenue Model
• In what ways do you generate revenues?
Financial Highlights
• What are your topline 5-year financial projections?
Go to https://businessplantemplate.growthink.com/clothing-store/ for
the paid template that automatically generates your 5-year financial
projections
Funding Requirements/Use of Funds
• How much money do you need to start and/or run your business? What
are the primary uses of these funds?
Sample from Growthink’s Ultimate Clothing Store Business Plan Template:
[Company Name]’s revenues will come primarily from the sales of apparel and accessories.
The major costs will be cost of goods sold (supplier costs), salaries of the staff, and rent for a
prime location. In the initial years, the company’s marketing spend will be higher, as it establishes
itself in the market.
Capital Requirements and Use of Funds
[Company Name] is seeking total funding of $235,000 of debt capital to open its store. The capital
will be used for funding capital expenditures and location build-out, hiring initial employees,
marketing expenses and working capital.
Specifically, these funds will be used as follows:
● Store design/build: $200,000
● Working capital: $35,000 to pay for marketing, salaries, and lease costs until [Company
Name] reaches break-even.
Key Assumptions & Forecasts
[Company Name] Business Plan Page 11
Revenues
Hotel $1,980,125 $2,832,031 $3,409,160 $3,783,447 $4,100,713
Total Revenues $1,980,125 $2,832,031 $3,409,160 $3,783,447 $4,100,713
Expenses & Costs
Cost of goods sold $455,429 $623,047 $681,832 $718,855 $738,128
Lease $0 $0 $0 $0 $0
Marketing $149,006 $141,602 $170,458 $189,172 $205,036
Salaries $721,095 $797,115 $1,014,687 $1,119,408 $1,164,185
Initial expenditure $50,000 $0 $0 $0 $0
Total Expenses & Costs $1,375,530 $1,561,763 $1,866,977 $2,027,436 $2,107,349
EBITDA $604,595 $1,270,268 $1,542,183 $1,756,011 $1,993,364
Depreciation $372,760 $372,760 $372,760 $372,760 $372,760
EBIT $231,835 $897,508 $1,169,423 $1,383,251 $1,620,604
Interest $164,782 $144,184 $123,586 $102,988 $82,391
PRETAX INCOME $67,054 $753,324 $1,045,837 $1,280,263 $1,538,213
Net Operating Loss $0 $0 $0 $0 $0
Use of Net Operating Loss $0 $0 $0 $0 $0
Taxable Income $67,054 $753,324 $1,045,837 $1,280,263 $1,538,213
Income Tax Expense $23,469 $263,663 $366,043 $448,092 $538,375
NET INCOME $43,585 $489,661 $679,794 $832,171 $999,839
FY 4
FY 5
FY 1
FY 2
FY 3
[Company Name] Business Plan Page 12
X. Appendix
Sample from Growthink’s Ultimate Clothing Store Business Plan Template:
The following pages present detailed financial projections for [Company Name] over the next five
years. The specific tables to follow include:
• Startup Costs
• 5 Year Annual Income Statement
• 5 Year Annual Balance Sheet
• 5 Year Annual Cash Flow Statement
• Quarterly Income Statement for First 3 Years
• Quarterly Balance Sheet for First 3 Years
• Quarterly Cash Flow Statement for First 3 Years
[Company Name] Business Plan Page 13
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clothing-store/
