Leather Goods Store Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Leather Goods Store Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Leather Goods Store business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready
- Complete Industry Research for the Industry
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Marketing Plan (24 to 28 pages)
- 425+ Page Funding Directory
- PowerPoint Presentation
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- How to Start a Business Guide
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PowerPoint Format
- Meets SBA Requirements
Leather goods are very specialized products that are typically sold only through a handful of retail stores. One of the nice things about owning and operating a leather goods stores at these businesses typically only facing modest amount of competition from other retailers. In any given market there is usually only one store that is specific for leather goods. The startup costs associated with these businesses is usually moderately low in these stores can be started for as little as $50,000 or as much as $100,000 depending on the specific geographic location.
In major metropolitan areas, these businesses may have higher startup costs given the fact that there’s going to be a higher rental expense coupled with more expensive leasehold improvements. The gross margins generated from the sale of other products typically ranges anywhere from 50% to 80% depending on what is being sold. Most leather goods stores carry a number of inventories including close as well as accessories like wallets and purses. These businesses almost always maintain an expansive online presence as well in order to ensure that sales are going to be made from outside of the retail location.
A leather goods store SWOT analysis is usually developed as well. As it relates to strengths, leather goods stores are always able to produce revenues given the fact that they are able to sell their products on a worldwide basis not only to the retail store but from e-commerce capabilities as well. The barriers to entry are very low, competition is usually modest, and there is always a demand among people that want to purchase these products.
For weaknesses, like any retail business – these businesses do have somewhat higher than it is expected operating expenses. The rental of a retail store coupled with utilities and marketing do create a significant amount of expense on an ongoing basis. As such, it is imperative that the owner operator keep a close eye on all expenses in order to ensure that the business is able to remain profitable at all times.
As it relates to opportunities, the biggest opportunity faced by these businesses is being able to sell products online not only for proprietary website but also through platforms like Amazon, eBay, Etsy, Walmart.com, and many others.
For threats, a major economic recession can impact the number of sales made given that most leather products are purchased with discretionary income. However, outside of an economic recession there are very few threats faced by these businesses.
Given that this is a retail store that carries a significant amount of inventory, most financial institutions are willing to provide a small business loan to these companies. A leather goods store business plan should be developed in this document should feature a three year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. For the industry research portion of the business plan, there are approximately 7,000 leather goods stores in the United States and each year they generate about $3 billion revenue. The industry employs about 25,000 people at any given time although during seasonal holidays the number of employees goes up. A demographic analysis outlining the people within the target market should also be included, but this can be done so on the lighter side given the fact that it is a very specific group of people that frequently purchase leather products. A competitive analysis should also be included within the business plan, but this can be done somewhat on a limited basis as well as competition among leather goods stores is usually very low.
A leather goods store marketing plan is and was always developed as well in order to ensure that these companies can quickly find a retail buying audience. Outside of a highly visible retail location that is frequently trafficked, and expansive online presence should also be developed. This ensures that inventory turnover can remain high given that people from all over the world could potentially place an order with the business. This website should undergo search engine optimization in order to ensure that not only people within the local market can fund the business but anyone using the Internet as well. A presence on social media is typically used as well in order to showcase specific product that may be discounted or on sale to purchasing audiences on platforms such as FaceBook, Twitter, and Instagram. These businesses are usually able to thrive when they maintain an expansive online presence.
Overall the outlook for a leather goods store business is very strong. People continue to demand these products, and in areas where the retail store is located with a wealthier income – these businesses are almost always able to satisfy their underlying debt obligations and fix operating expenses on a monthly basis. By maintaining an expansive online presence, the risks associated with owning and operating a leather goods store are substantially ameliorated.