Our business is called ME and it is a high-end clothing store for men and women. We
will incorporate into our business, up and coming designers, as well as design students,
creating their own pieces and selling them to our customers. This will give ME the
competitive edge by not only having ready to wear products, but also having custom
designed products. Our mission is to help up and coming designers and design students get
exposed to the public so they have a better chance it getting recognized by the national and
international design community. It’s really tough trying to establish yourself as a designer
in the fashion world and take your dream to the top and higher. We want to have at least
50% of all our designers who come to work for us move on within 5 years and become a
well established and widely recognized designer. Our vision is to have the fashion world
watching us to see what great things our designers create next. We want to be that one
company that every designer just starting out wants to work for because working our
company means getting their foot in the door into the fashion world and making it to the
top and taking their dreams above and beyond their expectations. We want our customers
to be able to walk in and leave with a product that they can say “This is me.” We want our
customers to be able to choose or design something that truly reflects who they are, but
also give our designers a chance to express themselves through their work.
***I’m not really sure where to put this section(the advantages) guys so if you could help
me out and suggest a place. I was thinking it should either go here or in the Marketing Plan
section. Maybe I can just have a brief overview in the Executive Summary section. Let me
know what you guys think.
The advantages of starting a business in Hawaii include telecommunications, the
geographic location, financial and capital resources available, the workforce available, and
time zone, and the overall quality of life. In Hawaii we have many excellent call centers that
are in a geographic location that allows businesses to make same day communications with
the Mainland and Asia. Hawaii’s geographic location gives us the competitive edge of
having more access the Asia-Pacific markets. Hawaii has a lot of financial and capital
resources including the Hawaii Strategic Development Corporation Venture Capital and
Small Business Innovation Research Grants.
“The Hawaii Strategic Development Authority's (HSDC) mission is to develop a sustainable
venture capital industry in Hawaii which will stimulate the growth of viable new
businesses. HSDA works to diversify the state's economy by commercializing emerging
technologies and providing skilled employment opportunities for citizenry.
Near-term objectives are to develop venture capital investment funds in Hawaii which will
attract external sources of private investment; to establish a fund of funds to raise capital
for Hawaii venture funds, to expand the business infrastructure supporting the venture
industry and the growth of emerging companies; and to assist entrepreneurial
development through focused conferences and seminars.”1
Being the crossroads between the East and West, Hawaii is home to many people from
many different ethnicities and cultures. Hawaii is fortunate to have a multi-culture and
multi-lingual workforce. Because we have such a diverse workforce, our business
professionals are more tolerant and understanding of different cultures and their practices.
This allows our workforce to get along with people from different cultures easily and have
more harmonious organizational cultures. We also have many educated professionals who
have at least a high-school diploma and some college education. Hawaii also offers
opportunities for state-funded training programs. This would be great for the business
side of ME because we can train our designers on how organize themselves and how to
operate a business so that when they move on they can run their own line as a business.
Research shows that people who work and live in Hawaii enjoy a better quality of life.
People can enjoy Hawaii’s warm climate, clean environment, educational opportunities,
culture, recreation, low-crime rate, and the “Aloha” spirit.
“Hawaii residents [also] enjoy the longest average life expectancy in the nation. The state
ranks 50th in preventable deaths and those due to accidents, 49th in deaths by cancer and
heart disease, 45th in per capita number of deaths due to strokes. Hawaii ranks tenth in the
number of physicians and first in number of dentists per 100,000 population.
Hawaii has a progressive health care system, with state-of-the-art equipment in hospitals
throughout the state, and innovative approaches to critical issues of universal health care
access and substance abuse.”2
**MICHAEL: Could you please help us with this section? I’ve started it, but you can change
whatever you need to. Also, I’m not sure if this is the section where we should put the
information we got from the stores we visited, what do you think. I sent a copy of the
questions we asked when we went to Louis Vuitton in an earlier email.
***This is where we have to use some of the data from the survey’s I think.
****For this section I want to do the 5 C’s of marketing. I believe they are Competition,
Cost, Capital, Consumer, and Company. Please correct me if I’m wrong.
Our competition is any high-end retailer who has a clothing line. Examples of our
competitors in Hawaii would be In My Closet, Louis Vuitton, Chanel, Gucci, and Armani.
*****I want to put the 4 P’s next, which I believe are Price, Promotion, Product, and Place..
Again please correct me if I’m wrong.
Our products include ready to wear pieces as well as pieces that are custom
designed by our in-house designers. Customers can come to our designers with ideas
about what they want and the designers will work with the customer to make the
customer’s idea a reality. We will be starting our business here in Honolulu and hope to
expand to the Continental United States and then take our business globally. We will also
have a website where customers can interact with designers and view our ready to wear
products. We will position ourselves as a friend to up and coming designers and design
students who will be able to launch their careers with us. We will have a wide variety for
our customers to choose from having something to attract someone from every walk of life.
The prices of our products will vary. Designers will set their own prices on their designs
and designs they do for customers. For our ready to wear products we will have set prices
ranging from $30-$150.
***KEONI: Could you do this section for us please? I’ve made a list of some of the supplies
that we will need to run our store I hope it helps.
Supplies: Space to rent, clothing racks, display manikins, hangers, register, office supplies,
spools of material, chair & easel/desk for designers, sewing machines, thread, lights,
***PAUL: Could you please help us with this section? It involves key management
personnel, management compensation and ownership, other investors, employment and
other agreements and stock option bonus plans, Board of Directors, other shareholders,
rights, and restrictions, supporting professional advisors and services. You don’t have to
include all of these things, just pick out which ones you think is most applicable to our
business. I have done an organizational chart already so you don’t have to do that part. If
you need more help you can look at some of the examples that were in the file Michael sent
us at the beginning of the semester. If you still need help just send out an email to everyone
and we’ll try to do what we can.