One day I dream of being the owner
of a shop named “Sweet Caroline’s”. This store will be filled with my favorite
things and will be a fun getaway for girly girls everywhere. I never thought of
myself as an entrepreneur or a business owner, but I’m beginning to see how
this dream could easily come to life. It might take a lot of motivation, a good
amount of money, and a little sweat and tears, but I really believe it can
happen.
I believe that there is an
opportunity to fulfill creative gaps in the shopping experience. There is a
large market of customers that want an experience when they shop. Back in the
day when our grandparents were young, going to the store was a big deal.
Department stores employed sales associates who cared and knew their customers.
They waited on them with care, not rushing them to make a sale. Most of the
time I wish this is how we shopped too. I think the change in this is due to
the faster paced lives we live. Everything is on the go and most things are off
the rack, the same for every person around the country. I want to change this
new stereotype.
I want to provide a feminine
shopping experience for women with engaging sales associates. These sales
associates will also not be pushy and will not work on commission. Most
customers are looking for an inviting dressing room, with honest advice. I have
worked in a clothing store for two years and I have noticed a considerable
difference when a sales associate is truthful with the customer. The customer
respects the opinion of the employee and building this relationship is much
better in the long run than making one poor sale.
Our store will sell to women of all
ages. These women will be people who like a shopping experience and like to be
doted on. We will not be a cookie cutter store and hope to provide unique items
and service. I envision this the perfect spot for mothers and daughters to shop
together. Our demographic will consistent of mainly locals. The store will be
in the town of Windermere right outside of Orlando. This area is very family
oriented and tends to attract a higher clientele. This store concept is being
satisfied by places like Park Ave and other small sectors of town that have a
nice walkable boutique strip. This experience is still very different however,
and Park Ave is at least forty minutes from Windermere. The only other thing
that is similar to my idea is Oxford Exchange in Tampa. Sweet Caroline’s will
be more of a clothing based store and will much less attractive to men and
business people. Even though my opportunity is larger, I really think there is
a market craving this idea. I would intend on employing
The
difference between a small business owner and an entrepreneur is not very big.
Every small business owner has had to start from scratch and learn his or her
own way, which to me, describes and entrepreneur. Innovation is also a key part
of being an entrepreneur. What separates my store from being a typical store is
that we will have:
·
In trend clothing
·
A floral department
·
A tea room
·
High end and drug store makeup counters
·
Upscale dressing rooms
Our clothes will
be moderately priced. Most dresses will be under $80 and most shirts will be
under $55. Besides department stores, there are not any boutiques that also
have makeup counters with the clothing. These make up counters will be similar
to Ulta or Sephora’s. Not the type with a brand representative. The floral
section of our store will also be a very unique aspect. We will have a florist
in-house and will be able to do custom orders and bouquets. It is very rare to
have a floral section in a store with clothing as well. The other unusual aspect
of the store will be the tearoom. Women will be able to shop and have tea in
the same location. We will have a small tearoom seating roughly fifty at time.
This room will also be able to be rented out for private events.
My
venture concept will reverse time, and take shoppers back to a slow and relaxed
place to shop. It will be creative and unique and unlike any stores people find
today. I want to change the way people see stores. I understand that this store
is not for everyone. Not everyone wants a shopping experience, but rather wants
to get what they are looking for and be on their way. But for the people who
love fashion and for girly girls everywhere, this will fulfill a never addressed
need.
On
a more logistical note, we plan on having three people in the store during
normal hours, a florist, and staff for the tearoom. I plan on hiring a total of
nine people to begin with. The store will be open Monday-Saturday 10-7 on
weekdays and 11-6 on Friday and Saturday. I will remain the owner and buyer for
the store. My mom, Mary Beth, will be the backbone and manager of the store. She
is my “secret sauce” and my “unfair advantage”. She is the most hardworking and
creative person I know and she happens to be just as excited for Sweet
Caroline’s as I am! We don’t know what is next for us in this business
adventure. We may look at waiting to open up the tearoom once the store is
successful. If the store is successful then we might look at opening up a
second location across town. We look at this business concept as an adventure,
and I can’t wait to take it on with her.
My
mom was the one who originally dreamed up this concept with me. She doesn’t
want to be the primary owner, but is confident that I would do a good job. I’ve
learned there is nothing better than having someone support you and believe in
you when dreaming about being an entrepreneur.
I received some questions that I made sure to address in this revised business concept. The first was how many people do I plan to hire and I decided on nine. The other question I received was what my store hours would be which I also answered.
I got a lot of positive feedback. People really liked the name of the store and thought the idea was unique and fun. People also liked how my family is involved in the idea too. One concern I received was that there might not be enough of a market for this venture, but that is a risk I am willing to take because I believe in this idea.
I included this picture of the Oxford Exchange because it is the only place I know of that has a similar idea to Sweet Caroline's. There is a huge market for this place and people travel just to visit it. My dream for my venture is that it might become as successful as Oxford Exchange.
Caroline: I like your idea and your concepts. I was wondering if you are going to have an online market as well, as that will bring in more money and clients. I know many women want to purchase their own clothes, but men do like to buy women purses and accessories. I like the look of the Oxford Exchange and hope you can one day be working in your own business. Please check out my blog: http://soulstosteal.blogspot.com/2016/04/venture-concept-no-2.html
ReplyDelete-Chris
Caroline,
ReplyDeleteI like your idea and the way you have thought up your venture concept. Offering quality service in a world that relies less and less on human interaction might be an uphill battle, but like you said, building relationships with customers and showing true and honest care can go a long way for some people. I can definitely see this being a success among high-income women. Great work! and have a fantastic summer! Feel free to check out my post here:
http://gabrielaraujoent3003.blogspot.com/2016/04/venture-concept-no2.html
Hi Caroline,
ReplyDeleteEven though I see the vision of your business concept I wish you could have expanded more on the kind of items you intend to sell in the store as you mentioned it would not be a cookie cutter store and it will be great for women of all ages but then you mentioned you would be selling in trend clothing which to me is not very unique as many stores have trendy clothing. However, the other ideas you are incorporating do make it unique and it could be even more so if you partnered up with local designers if locals are your intended customers. Another thing I did not see mentioned which is important for attracting customers, will the tea and floral department be free or only if you purchase an item? If you’re looking to make money off that you might be looking at a smaller demographic of higher income unless the locals are that demographic.
http://saraentrepreneurshipjourney.blogspot.com/2016/04/venture-concept-no2.html
Hello Caroline,
ReplyDeleteI think you have a very interesting and thought out idea. While I would not be considered a part of the target market, I believe you when you mention the unserved needs of the woman who wants a shopping experience that is well rounded and that is nothing but pleasant. It seems that you have thought of many details, even down to staff selection and shift scheduling, which I find impressive. My venture concept relates to producing a clothing product. Specifically, it focuses on producing men's undershirts, so I suppose you in turn would not be a part of that target market either. I think that overall, however, both of our ideas are well founded based on our observations of our target markets, and I hope we both succeed in them.
I linked my blog post below. Feel free to take a look at it. http://entrepreneurship3003blog.blogspot.com/2016/04/week-15-venture-concept-no-2.html