Are you about starting a T-shirt Business online? If YES, here is a complete sample T-shirt printing business plan template & feasibility report you can use for FREE.
Starting a T – shirt design and sales business is of course one of the many businesses that can be started in any part of the world and the owner of the business can still penetrate the world market once the design is good and it meets a need in the fashion market; everybody whether old or young have need for clothes most especially T – shirts for casual wears.
Table of Content
- Why Start a T-Shirt Business?
- What It Takes to Start a T-Shirt Business?
- Industry Overview
- Executive Summary
- Our Products
- Our Mission and Vision Statement
- Job Roles and Responsibilities
- SWOT Analysis
- MARKET ANALYSIS
- Our Target Market
- SALES AND MARKETING STRATEGY
- Publicity and Advertising Strategy
- Equipment & Tools
- Startup Budget and Expenditure
- Financial Projection
- Sustainability and Expansion Strategy
Why Start a T-Shirt Business?
Entrepreneurs who intend starting a clothing line business can start their own T – shirt design and sale business from their home on a small scale and service a customized market or big time investors can open a clothing factory and dominant both the U.S. market and the international market.
The bottom line is always that there is always a ready market for manufacturers of clothes. All a designer need to do is to ensure that he or she carves a niche for his business and they work hard to build their brand name to be accepted beyond his / her city of operations.
T – Shirt design and sales business just like most businesses, thrives on creativity, branding (media hype and what have you) and good business skills. Any aspiring entrepreneur can start a T – shirt design and sales business, as long as they are creative, they can get people to promote their brand and they have good business skills.
What It Takes to Start a T-Shirt Business?
The starting size of this type of business doesn’t really matter as long as the business is built on the right foundation and with the right combination of skills and talents; after all, a world renowned clothing line – Coco Chanel started from a little hat shop in a street in Paris and today they are all over the world.
One thing is certain, once you are creative, you will be able to come out with a unique style. In the clothing line industry, you signature is your style. Another important factor that counts in this line of business is the brand name and perhaps the logo of the clothing line.
If you look at the leaders in the clothing line business you will realize that they deliberately choose a name and create a logo that best communicate how they want people to perceive them. Once you are able to secure a good name for your T – shirt design and sales business and then hire experts (graphic artists) to help you create a compelling logo; if you don’t mind, you can follow the trend in the industry.
A Sample T-Shirt Design & Sales Business Plan Template
The fashion industry is indeed a highly thriving industry all over the globe for obvious reasons and T – shirt design and sales is a subset of the industry. There are various clothing label; some are national brand and some others are international brands.
The fashion industry, especially cloth / T – shirt making business was not as easy as it is now; before now, clothing was handmade based on demand by individual. In the 20th century after the invention of sewing machines (industrial sewing machines) it became pretty much easier to produce T – shirts en mass.
Technology indeed is responsible for opening up the clothing industry. T – Shirts can now go through factory system of production and still maintain good quality and standard sizes. With that, it is easier for retailers to order and sell T – shirts at fix prices in department stores and boutique et al without stress.
The fashion industry is a creation of the modern age and fashion style changes with rapid astonishment and in most cases people go back to the past to re – introduce old fashion. The fashion industry is indeed a rapidly changing industry; fashion trend will always come and go at different season.
The bottom line is that successful clothing labels (T – shirt designers) have a thorough grasp of the market and they know how to meet their needs or cajole them to accept what they have to offer; they are always creative, flexible and ready to either detect the trend or move with the trend.
No doubt, a retailer or wholesale distributor of T – shirts can order for various sizes of clothes from anywhere in the world and sell in his or her country without even visiting the production factory. As a matter of fact, any clothing line based business is one business that has the capacity to survive regardless of what is happening in the economy of the world.
Economic downturn or even a galloping inflation does not in any way affect the sale of clothes; people can’t do without wearing clothes. For instance, you can’t find even the homeless people in America not wearing clothes.
From time immemorial, the fashion industry is known to be one of the largest employers of labor (both directly and indirectly) in the united states of America. Some of the leading labels in the fashion industry are from the United States of America. Although, some clothing labels outsource the production of their clothes to other parts of the world; predominantly Asian countries, just in a bid to cut cost.
Some cities of the world are considered to be fashion hubs; they dictate what happens in the fashion industry. The cities are Paris, Milan, New York City, Tokyo and London. These cities are known to host fashion exhibitions; designers who want to play at the global stage ensures that they exhibit their clothing collections to fashion enthusiast during fashion week in any of the cities mentioned above.
As a T – shirt designer, once your brand / label is accepted in any of the fashion capitals of the world, it won’t be too long before you become a globally recognized clothing label – brand.
Richards Peal™ is an international clothing line with a bias for designers T – shirts that will be located in Beverly Hills, California. We have been able to secure a large warehouse in a strategic part of town that will be converted to our T – shirt production factory. We were able to out rightly buy over the facility with the help of our bank and support from family and friends.
Richards Peal™ will be involved in the production of T – shirts and other casual cum sport clothes, and the likes, that will meet the needs of male, female, young adult and children. Our business goal is to become one of the leading T – shirt designers in the United States and we will make sure that every T – shirt or clothes that leaves our factory can favorable compete with the best brands in the industry.
Our workers are going to be selected from a pool of talented T – shirt designers in and around Beverly Hills, California and also from any part of the world as the business grows. We will make sure that we take all the members of our workforce especially T – shirt designers through the required trainings that will position them to meet the expectation of the company and to compete with leading T – shirt designers in the United States and throughout the globe.
We have put plans in place to build a state of the art clothing line production factory in Beverly Hills, California, which is exactly why we have entered agreement with some manufacturers of sewing machines to produce customized sewing machines for us that will give us the quality of clothes that we want to be known for. Our factory will be well equipped and we will ensure that we follow the trend in the industry.
Richards Peal™ will manufacture high quality T – shirts for both the high end customers and also for low income earners; we want to become one of the people’s choice where ever our T – shirts are put up for sale. Apart from mass production of T – shirts, we will also be engaged in customized production of T – shirts for customers based on their demands.
We are quite aware that there are some clients such as sporting clubs, political parties, schools, churches and organizations that would need quality customized T – shirts for specific purposes and we are well prepared to deliver as requested.
- Ownership Structure/Founder’s Biography
Richards Peal™ is owned by Richard Crespo – Pablo and family. Richards Crespo – Pablo is an Italian – American fashion enthusiast with over two decades of experience in the fashion industry. He will occupy the position of the chief executive officer (CEO) / President of the organization.
Richard Crespo – Pablo has Degree in Fashion Designing from Milan School of Fashion and also an MBA from Harvard. He is a well – respected figure in the fashion industry, prior to starting Richards Peal™ he was the creative director in one of the world’s leading fashion label that is based in Milan, Italy.
He will run the company with two of his children and also some protégées (core T- shirts designers and market and sales experts) of his that he has trained over his working years as a fashion icon in both Italy and the United States of America.
Richards Peal™ was established with the aim of producing high quality and highly fashionable T – shirts for men, women, young adults and children. We know that quality is a key factor that will help us sell our brand which is why we have but in place a competent quality assurance team that will ensure that all our T – shirts meet and even surpass our customers’ expectations.
We will work hard to ensure that Richards Peal™ is not just accepted nationally in the united states of America, but also in other parts of the world.
Our Mission and Vision Statement
- Our vision is to establish a T – shirt design and sales company whose brand will not only be accepted in the United States of America, but also in other parts of the world.
- Our mission is to establish a T – shirt design and sales company that will design and produce high quality T – shirts and casual clothes for male, female, young adults and children; a T – shirt label that will compete favorably with international T – shirt labels like Ralph Lauren, Polo by Ralph, Tommy Hilfiger, Hugo Boss, Gap, Lacoste, Nike, Levi Straus, Adidas, Diesel, Nautical, Puma, Prada and Rebel (Children’s T – shirts) et al at the global stage.
Our Business Structure
Richards Peal™ T – shirt design and Sales Company, is a company that intends opening small, but hope to grow big in order to compete favorably with leading T – shirt design and sales labels in the fashion industry both in the United States and on a global stage.
We are aware of the significance of building a solid business structure that can support the picture of the kind of business we want to own. This is why we are committed to only hire the best hands that we can attract.
Despite the fact that Richards Peal™ T – shirt designs and sales company will start operation from a single factory in Beverly, California, we have a holistic view of the kind of business we want to build; we want to grow to the level where we will build factories in Thailand and China.
Our T – shirt brand is going to be specifically designed to penetrate not just the United States market, but also the world’s fashion industry.
We want people of all walks of life across the globe to someday put on our T – shirts; we want to see our T – shirts being worn in Paris, in London, in Tokyo, in Lagos, in Madrid, in Johannesburg, in Buenos Aries, in Sao Paulo, in Port Elizabeth, in Dubai and all over the nooks and crannies of the world.
At Richards Peal™ T – shirts design and sales company, we will guarantee that we hire people that are qualified, hardworking, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;
Chief Executive Officer (Owner), General Manager, Human Resources and Admin Manager, Sales and Marketing Executive, Accountant, Fashion Designers (With Bias in T – shirts design and casual clothes), Quality Control Officer, Tailors, and Factory Workers
Job Roles and Responsibilities
Chief Executive Officer – CEO:
- 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; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- 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
- Develops strategic plan by studying technological and financial opportunities; presenting assumptions; recommending objectives.
- Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
- Coordinates efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
- Builds company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
- Responsible for fixing prices and signing business deals
- Responsible for recruitment
- Responsible for payment of salaries
- Maintains quality service by establishing and enforcing organization standards.
- Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
- Contributes to team effort by accomplishing related results as needed.
- Responsible for managing the daily activities in the factory
- Responsible for supervising all the employees
- Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
- Ensures that the organization operates within stipulated budget.
Human Resources and Admin Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Defining job positions for recruitment and managing interviewing process
- Carrying out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversee the smooth running of the daily office and factory activities.
Sales and Marketing Manager
- Manage external research and coordinates all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information and analyzes the volumes of transactional data generated by customer purchases
- Creates new markets cum businesses for the organization
- Empowers and motivates the sales team to meet and surpass agreed targets
Accountant / Cashier:
- Receives payments on behalf of the organization
- Issues receipt to customers
- Prepares financial report at the end of every working week
- Handles all financial transaction on behalf of the company
- Interfaces with the organization’s banks
- Responsible for payment of tax, levies and utility bills
- Any other duty as assigned by the CEO / store manager
Fashion Designers (with bias in T – shirt designs)
- Responsible for designing T – shirts and casual clothes) to meet the latest trend
- Stays abreast with the dynamics of the fashion industry with key interest in T – shirts and casual clothes
- Research and advice the organization on style, size and other trendy fashion statements.
Quality Control Officer
- Ensures that all the T – shirts and casual clothes in our production line meets the required quality before they are released in the market
- Make certain that production and manufacturing lines perform efficiently, coordinate employee efforts, and facilitate communications between management and production departments.
- Devises ways of improving the manufacturing process to ensure higher-quality and durable T – shirts
- Ensures that manufacturing production lines run smoothly and generate a consistently suitable output for their employers
- Ensures that the organization work in line with international best practices
- Handles any other responsibility as assigned by the general manager
Tailors (Industrial Sewing Machine Operators)
- Responsible for sewing T – shirts and casual clothes as instructed by the supervisor / fashion designer
- Responsible for cutting clothing materials to fit the expected design and size
- Handles any other duty as assigned by the general manager
- Responsible for ironing and packaging of T – shirts and casual clothes
- Responsible for movement of equipment and raw materials as required
- Ensures that toiletries and supplies don’t run out of stock
- Cleans both the interior and exterior of the factory, machines and other equipment
- Handles any other duty as assigned by the general / floor manager.
Richards Peal™ intends to build a world class T – shirts design and sales business that will manufacture T – shirts and casual clothes for men, women, young adult and children. We will be based in Beverly, California, but we will not restrict the sale of our T – shirts and casual clothes to the U.S market alone, we will sell our product in other parts of the world.
In other to achieve this in a highly competitive industry like the fashion industry, we must ensure that we critically look through our strength, our weaknesses, the opportunities available in the industry and the threats that we will are likely going to face.
Because of the nature of the business we are involved in and the brand we want to build, we were able to hire the services of an HR and Business consultant with bias in fashion and retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives.
This is the summary of the SWOT analysis that was conducted for Richards Peal™ T – shirt Design and Sales Company;
Perhaps one of our strongest strength could be attributed to the quality of employees and the latest machines and equipment that we have in our T – shirt production factory. Our chief executive officer, Mr. Richards Crespo – Pablo will be bringing his vast wealth of experience to the table and that is indeed a huge positive for Richards Peal™ T – Shirts Design and Sales Company
A major weakness that may count against us is the fact that we are a new T – shirt design and sales company and we don’t have the financial capacity to compete with multi – billion dollars fashion label like Ralph Lauren, Polo by Ralph, Tommy Hilfiger, Hugo Boss, Gap, Lacoste, Nike, Levi Straus, Adidas, Diesel, Nautical, Puma, Prada and Rebel (Children’s T – shirts) et al when it comes to controlling the market or detecting the trend.
One thing is certain, whether good or bad- people will always look for clothes to wear and on the average they go for T – shirts simply because it is cheap. Besides, the opportunity for clothing line to sell their clothes is massive and we hope to leverage on these opportunities to sell our T – shirts.
Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing power. Another threat that may likely confront us is the arrival of a new T – shirts design and sales company in same location where our target market exist who may want to adopt same business model like us.
- Market Trends
In recent time, the fashion industry relies more on mass market sales for them to make the kind of income that will sustain the business. The mass market takes care of a wide range of customers that cuts across both the rich and the poor. Most of the new clothing lines that are trying to catch – up with the market often produce ready-to-wear clothes using trends set by leading fashion labels.
What they do is that, they try to see the direction of the trend as established by renowned fashion brand before producing their own versions of the original look by making use of cheaper fabrics and simpler production processes which can easily be done by machines. They can comfortably sell such product at a cheaper price to the masses who can’t afford to by the original which is often way too expensive for the common man.
T – Shirt designers and fashion designers now leverage on the runway – fashion expo to promote and attract market for their products. Any fashion designer who is recognized in Paris, Milan, New York City, or London can comfortably become a global recognized fashion label.
Small start – up T – shirt designs and sales companies leverage on small markets such as companies, churches, schools, organized groups and sport fans to sell their T – shirts. This group of people can order large numbers of customized T – shirts for special purposes. For example, a political party enters into a business deal with a T – shirt design and sales company to help them produce shirts to be used by their supporters during political rallies and campaigns.
Our Target Market
No doubt the clothing line industry has the widest range of customers; everybody on planet earth wears clothes howbeit different designs, quality and style. In view of that, we have created strategies that will enable us reach out to people that cut across different classes in the society; we will produce T – shirts and casual clothes for male, female, young adults and children.
We have conducted our market research and survey and we will ensure that our T – shirt label is well accepted in the market place. These are the different group of people that we will be producing T – shirts and casual clothes for;
- Young Adult
- Corporate Executives
- Sports Men and Women (sport clubs)
- Churches (Customized church robes)
- Political Parties
Our competitive advantage as a T – shirt design and sales company is the fact that we are going to produce T – shirts and casual clothes for a wide range of people; we will produce for both the rich and the poor.
Another competitive advantage for Richards Peal™ T – shirts Design and Sales Company is the quality and robust wealth of experience of our management team. The management team comprises of professionals who have worked with some of the leading international brand in the fashion industry.
Our latest machines and equipment also count towards our advantage especially when it comes to competing with other T – shirt designs and sales companies within the same category that we operate. The quality of every T – shirts and casual clothes that comes out of our production line must be certified okay before they are released to the market.
SALES AND MARKETING STRATEGY
Owing to the fact that we are a new T – shirts design and sales company that want to take on the international market, we have decided to model some of the leading international clothing manufacturing brand. We will ensure that we interact with our target market (customers) and sample their opinions to know what they want before mass – producing T – shirts and casual clothes.
It is easier to penetrate the market when what you produce is exactly what the people wanted. The fashion industry is indeed a very competitive industry, every T – shirt designer and clothing line must ensure that they are always on their toe and in touch with the trend if indeed they want to continue to be in business.
We are aware of this fact which is why we hired business consultant with bias in marketing and sales to help us craft a winning marketing and sales strategy. In summary, Richards Pearls™ T – Shirts Design and Sales Company will adopt the following sales and marketing approach to promote and sell our T – shirts and casual clothes;
- Introduce our T – shirt label by sending introductory letters to churches, schools, corporate organizations, political parties, groups, and other establishment that wears T – shirts and casual clothes.
- Attend fashion expos in the U.S and in other parts of the world
- Organize our own fashion show; in order for us to display our designs / clothes
- Advertise our clothing label in newspapers, TV and radio stations
- Canvass celebrities to wear and help us promote our clothing label
- List our business on yellow pages ads / local directories
- Leverage on the internet to promote our business
- Engage in direct marketing
- Leverage on word of mouth marketing (referrals)
Publicity and Advertising Strategy
Publicity and advertising as it relates to the fashion industry involves being in touch with the organizations target market and being very creative and proactive. Beyond every reasonable doubt the media plays a very big role when it comes to helping a clothing label gain international significance.
The social media also plays an important role in modern day fashion publicity and advertisement; it gives fashion label the ability to reach out to a wide range of customers all over the world within a short period of time and of course at a very cheaper price when compared to other publicity and advertising platforms.
Any T – shirt Design and Sales Company that wants to take on the market must be deliberate when it comes to building brand awareness and credibility. Most often than not, big – time clothing labels ensures that they create great hype whenever they are about to release any unique design from their stable.
Social media, such as blogs, micro blogs, podcasts, photo and video sharing sites are some of the tools fashion designers leverage on to promote their labels. Some of the preferred social media platforms that are used in the fashion industry are Instagram, Tumblr, WordPress, Facebook, twitter, YouTube and other sharing sites.
Here are the platforms we intend leveraging on to promote and advertise Richards Pearls™ T – Shirt Design and Sales Company;
- Place adverts on both print (newspapers and fashion magazines) and electronic (radio and TV) media platforms
- Sponsor relevant community programs like school fashion shows et al
- Leverage on the internet and social media platforms like; Instagram, Tumblr, WordPress, Facebook, twitter, YouTube and other sharing sites.et al to promote our brand
- Attend local and intentional fashion expos
- Organize our own fashion show
- Promote our clothing label on our own official websites and online fashion community
- Build relationship with celebrities especially in the entertainment industry and sports to endorse of clothing label.
Our Pricing Strategy
Richards Pearls™ T – Shirts Design and Sales Company will make sure that we design and manufactured T – shirts and casual clothes that will meet the financial capacity of different classes of people in different parts of the world. The prices for all our T – shirts and casual clothes will be affordable and at the same time competitive with what is obtainable in the fashion cum clothing line industry.
- Payment Options
Our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets where our T – shirts and casual clothes will be sold;
- Payment by cash
- Payment via Point of Sale (POS) Machine
- Payment via online bank transfer (online payment portal)
- Payment via Mobile money
- Payment by cash
In view of the above, we have chosen banking platforms that will help us achieve our payment plans without little or no difficulties.
Equipment & Tools
These are the machines, equipment and tools that we would need to start our T – shirts design and sales business;
- Industrial sewing machines
- Pattern makers for crafting designs.
- Women and men dress forms used for garment building.
- Hole punchers
- Straight and curved rulers
- Measuring tapes
- Notchers for marking seams.
- Dotted pattern paper.
- Sewing machine needles
- Hand sewing needles.
- Sketching books.
- Drapings tools.
- Dressmaking Stick pins
- Style tapes
- Fabric shears
- Soft lead pencil
- Marking pen
- Pattern plotter.
- Pattern making software.
- CAD tools for designs
- Digital drawing tools
- Digitizer board for pattern scanning.
- Heat transfer machines for T-shirts.
- Print tables.
- Slat wall
- Labels and Tags.
- Packaging materials
- Industrial pressing irons
- Supply of fabrics
Startup Budget and Expenditure
These are the key areas where we will spend our start – up capital on;
- The Total Fee for Registering the Business in Beverly, California – $750.
- Legal expenses for obtaining licenses (Health department license and business license) and permits (Fire department permit, Air and water pollution control permit, and Sign permit et al) – $4,500.
- Budget for publicity and advertisement of our T – shirt brand – $50,000
- Cost for hiring Business Consultant – $2,000.
- Insurance (general liability, theft, workers’ compensation and property casualty) coverage at a total premium – $30,800.
- Cost of accounting software, CRM software and Payroll Software – $3,000
- Cost for acquiring facility for our production factory – $500,000.
- Cost for facility remodeling – $50,000.
- Cost for purchasing initial supply of fabrics, racks, hangers and packaging materials – ($100,000)
- Phone and Utilities (gas, sewer, water and electric) deposits – ($3,500).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
- The cost for Start-up inventory – $15,000
- Cost for sewing machines and other sewing equipment and tools – $250,000
- The cost for the purchase of furniture and gadgets (Printers, Telephone, vacuum cleaner, tables and chairs et al) – $30,000.
- The cost of Launching a Website – $600
- The cost for our grand opening party – $5,500
- Miscellaneous supplies – $10,000
We would need an estimate of $3million to successfully launch our T – shirt design and sales business in Beverly, California.
- Sources of Income
Richards Pearl™ T – shirt Design and Sales Company will be involved in the production of high quality T – shirts and casual clothes that will meet the needs of male, female, young adult and children and that will be our major sources of income.
In future, we hope to open a standard fashion design school in Beverly, California. A school that will meet and surpass the needs of aspiring fashion designers in and around California. We will also go into fashion consulting business as a means of generating additional income for the business.
- Sales Forecast
It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field.
It is important to state that people buy T – shirts and casual clothes for different purposes and clothes sell all through the calendar year albeit different designs for different seasons / weather. If it is winter, the demand for winter clothes will increase and if it is summer, the demand for summer clothes will increase.
Below are the sales projections that we were able to come up with for the first three years of operations;
- First Year-: $ 500,000
- Second Year-: $1,000,000
- Third Year-: $2,000,000
N.B: This projection is done based on what is obtainable in the clothing line (fashion) industry and with the assumption that there won’t be any major economic downturn and there won’t be any T – shirts design and sales company that will adopt our unique business model. Please note that the above projection might be lower and at the same time it might be higher.
Generating Funding / Startup Capital for Richards Pearls™ T – Shirts Designs and Sales Company
Richards Pearls™ T – shirts designs and sales company is a private business that is solely owned and financed by Richards Crespo – Pablo and family. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.
These are the areas we intend generating our start – up capital;
- The Chief Executive Officer who happens to be the lead partner will contribute 20 percent of the start – up capital from his personal savings and other sources
- 30% of the capital will be generated from other family members
- 50% of the capital will be sourced from banks as a loan facility
Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If any of these factors is missing from a business (company), then it won’t be too long before the business close shop.
Richards Pearls™ T – shirts designs and sales company will make sure that all the factors listed above are reinforced on a regular basis and also we will engage in continuous capacity building of our workforce.
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more. This will enable us secure their loyalty and services for a long period of time.
We will make sure that the right foundation, structures and processes are put in place to ensure that staff welfare is well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of all that we do at Richards Pearls™ T – shirts designs and sales company.
Check List / Milestone
- 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 licenses (Health department license and business license, Fire department permit, Air and water pollution control permit, and Sign permit et al): Completed
- Purchase of Insurance for the Business: Completed
- Acquiring facility and remodeling the facility: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from business partners / investors: In Progress
- 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
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of sewing machines and sewing equipment / tools: In Progress
- Purchase of furniture and gadgets (Printers, Telephone, vacuum cleaner, tables and chairs et al): In Progress
- Creating Official Website for the Company: Completed
- Creating Awareness for the business both online and in the neighborhood: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress