By: Sarah Kirst

OPENING A PLUS SIZE BOUTIQUE IN SYRACUSE, NY

Introduction• No local plus size boutique• 30% of American people considered plus

size• Average size of a woman is 14• Whole demographic of people left out

Focus Statement•What will it take to open a plus size boutique in the Syracuse, New York area?

Context of Organization•Small locally owned specialty business•Sole proprietorship • Inventory identified and purchased by owner•Clothing influenced by Full Figured Fashion Week in New York City

History of the Problem:•Growing number of plus size shoppers in American market•Growing emphasis on unrealistic body types by Fashion industry• In Syracuse, struggling economy leads to emphasis on chain clothing stores•Chain clothing stores rarely target plus size shoppers

Importance of Project•Not many trendy plus size stores in Syracuse•Many options only online•Many plus size stores are catered to older women•Time consuming•Very costly to start boutique•Bad economy•Underserved clientele eager for a market

Definition of Variables•Whether Downtown Syracuse resurgence will continue•Whether plus size market will retain significant market share•Whether plus size market will remain underserved by national retailers•Whether plus size market in economically struggling area willing to support specialty boutique•Whether location away from main shopping mall can succeed•Whether inexperienced owner can capitalize on market trends

Research•Primary:•Surveys sent out to local Syracuse area businesses•Surveys sent out to women in Syracuse, NY area

•Secondary:•Business books•Business articles

Location451 South Warren St., Syracuse, NY 13202$2,500/month2,400 square feet

Survey Questions To Businesses

Cont.

Cont.

Survey Questions To Women

Cont.

Cont.

Financials

  Year 1 Year 2 Year 3

Sales $100,000 $150,000 $250,000TOTAL EXPENSES

$54,410 $55,610 $62,610

Income Taxes $4,991 $17,891 $44,603NET PROFIT AFTER TAX $40,599 $76,499 $142,787

Owner Draw/Dividends $20,299 $38,249 $71,393

ADJUSTED TO RETAINED $20,300 $38,250 $71,394

Profit and Loss

Financials cont.

  Pre-Startup

EST

Year 1 Year 2 Year 3 Total ItemEST

Cash on hand

$100,000 $100,000 $146,090 $240,980$587,07

0Cash Sales

- $100,000 $150,000 $250,000$500,00

0TOTAL CASH AVAILABLE

$100,000 $200,000 $296,090 $490,980$1,087,0

70

TOTAL CASH PAID OUT

- $53,910 $55,110 $62,110$171,13

0

CASH POSITION $100,000 $146,090 $240,980 $428,870

$915,940

Cash Flow

Summary of Results•Yes, this business could succeed•Rental prices are too high at DestinyUSA•Downtown Revival that would be exciting to be part of•Critical issue is whether clientele could be convinced to start shopping at a specialty boutique•Starting online boutique first

Recommendations•As of yet, no action has been taken•Further research needs to be done•Business classes with SBA•Looking into loans and grants

Reflections• I’ve learned….•This can be done•Starting a business is not easy• It is possible to combine personal passion with a business proposition

ANY QUESTIONS?