Are you about starting a souvenir store? If YES, here is a complete sample souvenir shop business plan template & feasibility report you can use FREE.
If you have a knack for retailing products, then you should consider starting your own souvenir shop business. It has been proven that a souvenir shop is one business that can easily survive in any part of the world as long as it is situated in a place where tourists visit on a regular basis.
No doubt, starting a business is not as easy as it sounds. It requires deliberate planning, capital and business skills. Depending on the vision you have for your souvenir shop business, you can start it on a small scale (mom and pop level) or on a larger scale. The good thing about establishing a standard souvenir shop is that if you are successful in building your brand, you can easily sell your franchise to investors and that will translate to more money for you.
Below is a sample souvenir shop business plan template that can help you to successfully write your own with little or no trouble.
A Sample Souvenir Shop Business Plan Template
- Industry Overview
A souvenir shop is a store that mainly sell souvenirs, memorabilia, and other items relating to a particular topic or theme. The items sold often include coffee mugs, stuffed animals, t-shirts, postcards, handmade collections and other souvenirs. Souvenir shops are normally found in areas visited by many tourists. Hotels and motels in Canada and the United States often feature a souvenir shop near their entrance.
Venues such as zoos, aquariums, national parks, theme parks, and museums have their own souvenir shops as well; in some cases, these shops sell items of higher value than souvenir and souvenir shops not associated with a venue, as well as trinkets. These stores are sometimes a source of financial support for educational institutions.
If you are close observer of happenings in this industry, you will notice that the Souvenir Shops and Card Stores industry has displayed signs of contraction as external competition has caused the number of operators to fall over the past five years. On the other hand, industry revenue has continued to rise as consumers have increased their discretionary spending on nonessential items that are predominant in this industry.
Please note that the continued growth of per capita disposable income has also enabled consumers to travel more and purchase items from souvenir shops. Going forward especially as it relates to projecting for the five years, the industry is anticipated to benefit from rising disposable income levels and tourist activity.
Statistics has it that in the United States alone, the Souvenir Shops and Card Stores industry generate over $19 billion annually from more than 61,279 souvenir shop outlets scattered all around the country. The industry is responsible for the direct employment of over 188,120 people.
Experts project the Souvenir shops and Card Stores industry to grow at a 0.2 percent annual rate between 2013 and 2018. Party City Holdings Inc., American Greetings Corporation and The Walt Disney Company are the establishments in this industry that own lion market shares in the industry.
A recent report published by IBISWorld shows that the Souvenir Shops and Card Stores industry is in the mature stage of its life cycle. The report further revealed that over the 10 years to 2023, industry value added, which measures the industry’s contribution to the overall domestic economy, is estimated to increase at an annualized rate of 1.0 percent, whereas US GDP is projected to expand an annualized 2.2 percent during the same period.
This industry is growing at a slightly slower rate than the economy as a whole, but its growth generally mirrors that of the US at large, which is characteristic of a mature industry. Industry revenue is expected to grow relatively consistently over this period however, intensifying competition from alternative retailers will likely mitigate any faster growth.
The market for the souvenir shop business is also no longer limited to a single customer or to women, especially as women once made up the largest segment of the industry’s market, as both customers as well as recipients. The market has now expanded to include the corporate client.
The Souvenir Shops and Card Stores industry has minimal barriers to entry, with low startup capital and no specific licensing requirements. The majority of souvenir shops operate as a one – outlet business and the capital cost of establishing souvenir shop outlets are not substantial relative to many other retail industries, such as department stores with chains of outlets all over the country.
On the other hand, the high level of competition and market saturation in a declining industry can prove challenging to aspiring entrepreneurs who want to start their own souvenir shop – business. Most players in the industry are small – to medium – size establishments that cater to the local community.
If you are considering opening a souvenir shop business in the United States, you should ensure that you carry out a thorough market survey and feasibility studies so that you can get the ideal location to launch your souvenir shop business. The truth is that if you get some key factors wrong before starting your own souvenir shop business, then you are likely going to struggle to generate sales.
Table of Content
- 1 Souvenir Shop Business Plan – Executive Summary
- 2 Souvenir Shop Business Plan – SWOT Analysis
- 3 Souvenir Shop Business Plan – MARKET ANALYSIS
- 4 Souvenir Shop Business Plan – SALES AND MARKETING STRATEGY
- 5 Souvenir Shop Business Plan – Publicity and Advertising Strategy
- 6 Souvenir Shop Business Plan – Sustainability and Expansion Strategy
Souvenir Shop Business Plan – Executive Summary
Tim Lara™ Souvenir Shop, LLC is a registered souvenir shop business that will be located close to Times Square which happens to be the most visited public tourist site in the whole of the United States of America. We have been able to lease a shop facility along a major road in Midtown Manhattan section of New York City at the junction of Broadway and Seventh Avenue.
Tim Lara™ Souvenir Shop, LLC will be involved in retailing a wide range of coffee mugs, stuffed animals, t-shirts, caps, gift wrap, novelty merchandise, postcards, handmade collections and other souvenirs and seasonal and holiday decorations. We will also be involved in helping our clients wrap and deliver their souvenir as instructed.
We are aware that there are several souvenir shops all around Manhattan – New York, which is why we spent time and resources to conduct thorough feasibility studies and market survey so as to offer much more than our competitors will be offering.
We have delivery service options for our customers, and our outlet is well secured with the various payment options. Our customer care will be second to none in the whole of Manhattan – New York. We know that our customers are the reason why we are in business which is why we will go the extra mile to get them satisfied when they visit our souvenir shop.
Tim Lara™ Souvenir Shop, LLC will at all times demonstrate her commitment to sustainability, both individually and as a business enterprise, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.
Our plan is to position Tim Lara™ Souvenir Shop, LLC to become the leading brand in the industry in the whole of New York, and also to be amongst the top 5 souvenir shops in whole of the United States of America within the first 15 years of opening our first souvenir shop.
This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Manhattan – New York is the right place to launch our souvenir shop business before spreading to other parts of the United States especially tourist destinations.
Tim Lara™ Souvenir Shop, LLC is a family business that is owned by Mrs. Lara Tim and her immediate family members. She has the required experience, qualifications and skills that will help grow the business from startup to profitability within the shortest time frame possible.
- Our Product and Services Offerings
Our intention of starting Tim Lara™ Souvenir Shop, LLC is to make profits from the souvenir shops and cards stores industry and we will do all that is permitted by the law in the US to achieve our aim and ambition. Here are some of our products;
- Coffee mugs
- Stuffed animals
- T-shirts and caps
- Gift wrap
- Novelty merchandise
- Handmade collections
- Seasonal and holiday decorations
- Greeting cards
- Customized gifts baskets
- Sale of franchise and consultancy services (after 10 years of launching the business)
Our Vision Statement
Our vision is to be listed as the top 5 leading souvenir shops in the United States of America before our 15th anniversary.
- Our Mission Statement
Our mission is to build a souvenir shop business that will meet the needs of all our customers in the regions / cities where we have our outlets and to sell franchise all across the United States of America.
- Our Business Structure
As part of our plan to build a standard souvenir shop in Manhattan – New York, we have perfected plans to get it right from the beginning which is why we are going the extra mile to ensure that we have competent and hardworking employees to occupy all the available positions in our organization.
The type of souvenir shop we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in the industry as long as they are willing and ready to work with us. Below is the business structure that we will build Tim Lara™ Souvenir Shop, LLC;
- Chief Executive Officer
- Shop Manager
- Merchandize Manager
- Human Resources and Admin Manager
- Sales and Marketing Officer
- Accountants / Cashiers
- Drivers / Deliverers
- Customer Service Executives
Roles and Responsibilities
Chief Executive Officer – CEO (Owner):
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results and developing incentives.
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Responsible for overseeing the smooth running of the souvenir shop
- Part of the team that determines the quantity, types and brands of souvenir items to be retailed in our store
- Maps out strategies that will lead to efficiency amongst workers in the shop
- Responsible for training, evaluation and assessment of the entire workforce
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Ensures that the shop meets the expected safety and health standard at all times.
Human Resources and Admin Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction of new team members
- Responsible for training, evaluation and assessment of employees
- Oversees the smooth running of the daily office and shop activities.
- Manage vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
- Help to ensure consistent quality of souvenirs and cards on our rack
- Responsible for the purchase of souvenirs and cards for the organization
- Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
- Ensures that the organization operates within stipulated budget.
Sales and Marketing Manager
- Manages external research and coordinates all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information and analyze the volumes of transactional data generated by customer purchases
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps to increase sales and growth for the company
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization
Distribution Van Drivers:
- Delivers customer’s orders promptly
- Runs errand for the organization
- Handles any other duty as assigned by the sales and marketing executive and plant manager
Client Service Executive
- Responsible for taking orders from clients when they call or email the organization
- Ensures that all contacts with customers (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the shop manager in an effective and timely manner
- Consistently stays abreast of any new information on Tim Lara™ Souvenir Shop, LLC products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
- Responsible for cleaning the entire shop facility at all times
- Ensures that toiletries and supplies don’t run out of stock
- Handles any other duty as assigned by the plant manager.
Souvenir Shop Business Plan – SWOT Analysis
Due to our drive for excellence when it comes to running a world – class souvenir shop business, we were able to engage some of the finest business consultants in Manhattan – New York to look through our business concept and together we were able to examine the prospect of the business and access ourselves to be sure we have what it takes to run a standard souvenir shop that can compete favorably with other leading brands in the industry.
In view of that, we were able to take stock of our strengths, our weakness, our opportunities and also the threats that we are likely going to be exposed to if we launch our souvenir shop business in Manhattan – New York. Here is a preview of what we got from the critically conducted SWOT Analysis for Tim Lara™ Souvenir Shop, LLC;
We have the finance, facility and competent workforce that has positioned us to compete in the industry in a highly competitive location like Manhattan. Another factor that counts to our advantage is the background of our Chief Executive Officer; she has a robust experience in the industry and also a pretty good academic qualification to match the experience acquired which has placed her amongst the top flight professionals in the United States of America.
We are not ignoring the fact that we have business partnership with handcraft artists who will ensure that we have regular supply of handcraft souvenirs.
The fact that we are setting up a souvenir shop in a city with other leading souvenir and card retail outlets might likely pose a challenge for us in breaking into the already saturated market in Manhattan – New York. In essence our chosen location might be our weakness.
But nevertheless, we have plans to launch out with a big bang. We know with that; we will be able to create a positive impression and we have a proper handle when it comes to building on already gathered momentum.
The opportunities available to us are unlimited. More Americans and foreign tourists are expected to travel to Times Square – Manhattan, New York, lifting industry demand. Americans and foreigners have begun to travel more, boosting demand for industry products. So also, there are also loads of people who would want to buy our franchise and start their souvenir shop business; our platform will be ideal for them to fulfill that goal.
The threat that is likely going to confront us is the fact that we are competing with already established souvenir businesses in Manhattan – New York and also there are other entrepreneurs who are likely going to launch similar business within our location.
Competition from discount retailers will intensify as supercenter and discount store chains expand. Of course, they will compete with us in winning over the available market. Another threat that we are likely going to face is unfavorable government policies and of course economic downturn. Usually economic downturn affects purchasing / spending powers.
Souvenir Shop Business Plan – MARKET ANALYSIS
- Market Trends
The Souvenir shops & Card Stores industry has risen slowly over the last five years while combating lackluster consumer spending and changing preference patterns. The introduction of technology and subsequently online retail store has indeed helped in reshaping the industry.
It is now a common phenomenon for retail outlets and souvenir shops to leverage on technology to effectively predict consumer demand patterns and to strategically position their shops to meet their needs; in essence, the use of technology helps retailers to maximize supply chain efficiencies.
The market for the souvenir shop business is also no longer limited to a single customer or to women, especially as women once made up the largest segment of the industry’s market. The market has now expanded to include the corporate client. As a matter of fact, external factors such as Domestic trips by US residents and Per capita disposable income in the Souvenir shops & Card Stores industry impact the overall performance in this industry.
- Our Target Market
When it comes to souvenir sales and delivery business, there is indeed a wide range of available customers. In essence, our target market can’t be restricted to just a group of people, but all those who reside in the location where we intend opening our souvenir shops. These are the groups of people we intend marketing our souvenir items and cards to;
- Corporate Organizations
- Corporate Executives
- Business People
- Military Men and Women
- Sports Men and Women
- Everyone who visits or resides in our target locations.
Our Competitive Advantage
Our goal of starting Tim Lara™ Souvenir Shop, LLC, is to build a business that can grow within the first 15 years of establishing the business to be listed amongst the top 5 souvenir shops in the United States of America and also to sell our franchise. With that in mind, we have been able to come up with competitive strategies that will help us compete favorably in the industry.
Another competitive advantage is that we have a wide range of souvenirs, handmade crafts and cards that can meet the needs of our customers. We have a competent workforce that has positioned us to meet the demand of products even if the demand tripled overnight or if we have a massive order to meet.
Another factor that counts to our advantage is the background of our Chief Executive Office; she has a robust experience in the industry and also a pretty good academic qualification to match the experience acquired. We are not ignoring the fact that offering consultancy services and running a franchise is definitely going to count as a positive for us.
One thing is certain, we will ensure that we open our outlets in various cities in the United States of America and also sell our franchise. With that our brand will be well communicated and accepted nationally.
Lastly, we can boast of having attractive product presentation and effective quality control. We are not taking for granted that our excellent customer service culture, highly competitive prices, reliable and easy to use payment option and the visibility of our outlets will serve as a competitive advantage for us.
Souvenir Shop Business Plan – SALES AND MARKETING STRATEGY
- Sources of Income
Tim Lara™ Souvenir Shop, LLC is established with the aim of maximizing profits in the Souvenir shops & Card Stores industry in the United States of America and we are going to ensure that we do all it takes to sell a wide range of souvenirs to a wide range of customers. Tim Lara™ Souvenir Shop, LLC will generate income by retailing the following;
- Coffee mugs
- Stuffed animals
- T-shirts and caps
- Gift wrap
- Novelty merchandise
- Handmade collections
- Seasonal and holiday decorations
- Greeting cards
- Customized gifts baskets
- Sale of franchise and consultancy services (after 10 years of launching the business)
We are well positioned to take on the available market in Manhattan – New York and we are quite optimistic that we will meet our set target of generating enough income/profits from our first month of operation and grow the business and clientele beyond Manhattan – New York to other cities in the United States.
We have been able to examine the Souvenir shops & Card Stores industry, we have analyzed our chances in the industry and we were able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in and around Manhattan – New York.
Below is the sales projection for Tim Lara™ Souvenir Shop, LLC, it is based on the location of our business and our competitive advantage;
- First Fiscal Year: $250,000
- Second Fiscal Year: $550,000
- Third Fiscal Year: $800,000
N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor retailing exactly same products and services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
Before choosing a location to launch Tim Lara™ Souvenir Shop, LLC and also the types of souvenirs and cards to retail, we conducted a thorough market survey and feasibility studies in order for us to penetrate the available market in the cities where we intend positioning our business.
We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time and also for our products to favorable compete with other leading souvenir shops in Manhattan – New York and the whole of the United States of America.
We hired experts who have good understanding of the Souvenir shops & Card Stores industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market Manhattan – New York and throughout the United States of America where we intend selling our franchise.
In summary, Tim Lara™ Souvenir Shop, LLC will adopt the following sales and marketing approach to sell our products;
- Introduce our souvenir shop – brand by sending introductory letters to residents, corporate organizations and other stakeholders both in Manhattan – New York and in other cities in the United States of America
- Open our souvenir shop business with a party so as to capture the attention of residents who are our first targets
- Engage in roadshows in targeted communities from time to time to sell our products
- Advertise our products in community-based newspapers, local TV and radio stations
- List our business and products on yellow pages’ ads (local directories)
- Leverage on the internet to promote our souvenir shop brand
- Engage in direct marketing and sales
- Encourage the use of Word of mouth marketing (referrals)
Souvenir Shop Business Plan – Publicity and Advertising Strategy
Despite the fact that our souvenir shop is a standard one with a wide range of products that can favorably compete with other leading brands in the United States, we will still go ahead to intensify publicity for all our products and brand.
Tim Lara™ Souvenir Shop, LLC has a long-term plan of opening outlets in various locations all around the United States of America and also to sell our franchise which is why we will purposefully build our brand to be well accepted in Manhattan – New York before venturing out to other cities in the United States of America. Here are the platforms we intend leveraging on to promote and advertise Tim Lara™ Souvenir Shop, LLC;
- Place adverts on both print (community-based newspapers and travel and tours magazines) and electronic media platforms
- Sponsor relevant community programs
- Leverage on the internet and social media platforms like Instagram, Facebook, twitter, et al to promote our brand
- Install our Billboards in strategic locations all around major locations in Manhattan
- Engage in roadshows from time to time in targeted communities
- Distribute our fliers and handbills in target areas with huge cache of tourists
- Position our Flexi Banners at strategic positions in the location where we intend getting customers to start patronizing our souvenirs.
- Ensure that all our staff members wear our customized clothes, and all our official cars and distribution vans are customized and well branded.
Our Pricing Strategy
Generally, the prices for souvenirs, gift items and cards and similar products are relatively affordable hence there is no need to employ any detailed strategies when it comes to pricing.
In view of that, our prices will conform to what is obtainable in the industry but will ensure that within the first 6 to 12 months, our souvenir and cards are sold a little bit below the average price. We have put in place business strategies that will help us run on low profit margin for a period of 6 months; it is a way of encouraging people to buy into our brand.
- Payment Options
The payment policy adopted by Tim Lara™ Souvenir Shop, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Tim Lara™ Souvenir Shop, LLC will make available to her clients;
- Payment with cash
- Payment via credit cards / Point of Sale Machines (POS Machines)
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
In view of the above, we have chosen banking platforms that will enable our clients make payment for our souvenirs and cards without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.
- Startup Expenditure (Budget)
When it comes to starting a standard souvenir shop business, one is expected to spend the bulk of the startup capital on renting a store facility. Aside from that, you are not expected to spend much except for purchasing distribution vans, purchasing commodities, paying of your employees and utility bills.
These are the key areas where we will spend our startup capital;
- The Total Fee for Registering the Business in Manhattan – New York – $750.
- Legal expenses for obtaining licenses and permits as well as accounting services (software, P.O.S machines and other software) – $1,300.
- Marketing promotion expenses for the grand opening of Tim Lara™ Souvenir Shop, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of – $3,580.
- The cost for hiring Business Consultant – $2,500.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
- The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $55,200.
- Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $50,000
- The cost for Start-up inventory (a wide range of souvenirs, gift wrap, novelty merchandise, souvenirs, greeting cards, party supplies and seasonal and holiday decorations et al) – $80,000
- The cost for store equipment (cash register, security, ventilation, signage) – $13,750
- The cost of purchase of distribution vans – $20,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
- The cost of launching a Website – $600
- The cost for our opening party – $10,000
- Miscellaneous – $5,000
We would need an estimate of $250,000 to successfully set up our souvenir shop business in Manhattan – New York.
Generating Funds/Startup Capital for Tim Lara™ Souvenir Shop, LLC
Tim Lara™ Souvenir Shop, LLC is a family business that is owned and financed by Mrs. Tim Lara and her immediate family members. They do not intend to welcome any external business partners which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.
These are the areas we intend generating our startup capital;
- Generate part of the startup capital from personal savings and sell of stocks
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $100,000 (Personal savings $80,000 and soft loan from family members $20,000) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
Souvenir Shop Business Plan – Sustainability and Expansion Strategy
The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business then it won’t be too long before the business close shop.
One of our major goals of starting Tim Lara™ Souvenir Shop, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to retail our wide range of coffee mugs, stuffed animals, t-shirts, caps, gift wrap, novelty merchandise, postcards, handmade collections and other souvenirs and seasonal and holiday decorations, a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.
Tim Lara™ Souvenir Shop, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of store facility and re – construction of the store facility: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Printing of Packaging, Marketing/Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party planning: In Progress
- Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress
- Purchase of delivery vans: Completed
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