T'square

The Ideal Kids Clothing Retail Store

Prepared by: Tay Ju Tzen Gregory Thian Chia Chow Kelvin Tieu Shen Loong Anslem Tay Guan Lim

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Kids Clothing Store Business Plan Plan Outline 1.0 Executive Summary Mission Objectives Keys of Success 2.0 Company Summary Company Ownership Start-up Summary Company Locations and Facilities 3.0 Products Products Description Competitive Comparison Sales Literature Sourcing Technology Future Product 4.0 Market Analysis Summary Market Segmentation Market Analysis Target Market Segment Strategy Market Needs Market Growth Industry Analysis Financial Risks and Contingencies 5.0 Strategy and Implementation Summary Competitive Edge Marketing Strategy Sales Strategy Sales Forecast 6.0 Management Summary Organisational Structure Management Team Personnel Plan 7.0 Financial Plan Important Assumptions Break-even Analysis Projected Profit and Loss

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1.0 Executive Summary Young parents, whether father or mother, are interested about the latest trends therefore they want their kids to look smart and beautiful by wearing dresses of the latest design. In order to fulfil young parents' expectations and demands for clothes that suit their kids whether boys of girls, T'square will be the ideal concept store. T'square is a new firm will be started-up to provide good quality and latest trend of children's clothing. We present an extensive range of kids wear that are manufactured using different fabrics such as Cotton, Silk, Wool and others. Available in a wide range of gorgeous colours, designs and prints ,these apparels are designed keeping in mind the most up-to-date fashion trends. The target customers are parents who pamper their children of aged 0-12years old with trendy clothes. Mission The mission of T'square is to deliver good quality and latest trend children's clothing at affordable prices. To accomplish this, we focus on exceptional design, innovation, quality, convenience and interactive communication. Objectives The objectives of T'square are as following: To offer products at affordable price for the customers. To provide and deliver good quality and latest trend clothing to customers. To expand and sustain a high level of customer satisfaction. To build branded franchise initially within local area community. To satisfy the need and demand of the shareholders. Keys to Success Accessible store where you always find something new that you want. Excellent vendor relationship that facilitate quick shipment of orders. Establish an effective strategy for advertising to our target customers. Create a store image that our target customers sees as both attractive and trendy.

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2.0 Company Summary T'square will be providing good quality and trendy kids products and clothing that are found in the large urban areas but not currently available locally. T'square will also create a cost-effective operation that will quickly bring new alternative clothing and products to customers. Company Ownership T'square will be a private limited company. The board of director consists of Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operating Officer(COO), Chief Technical Officer(CTO) and shareholders. Company Structure

Chief Executive Officer (CEO) Chief Operating Officer (COO) Production assistant 1 Production assistant 2 Chief Technical Officer (CTO) Technical assistant Administrativ e assistant 1 Chief Financial Officer (CFO) Receivable clerk Chief Marketing Officer (CMO) Sales executive Marketing executive Public relation officer

Payable clerk

Production assistant 3

Administrative assistant 2

Payroll clerk

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Start-up Summary The start-up costs of T'square are as following: Start-up Requirements Start-up Expenses Legal Stationery etc Store Floor Setup Insurance Rent Other Total Start-up Expenses Start-up Assets Cash Required Start-up Inventory Other Current Assets Long-term Assets (included factory cost) Total Assets Total Requirement Start-up Funding Start-up Expenses to Fund Start-up Assets to Fund Total Funding Requirement Assets Non-cash Assets from Start-up Cash Requirements from Start-up Additional Cash Raised Cash Balance on Starting Date Total Assets Liabilities and Capital Liabilities Current Borrowing Long-term Liabilities Account Payables (Outstanding Bills) Other Current Liabilities (Interest-free) Total Liabilities $535,294 $4,464,706 $5,000,000

$58,823.53 $5,882.353 $294,117.60 $58,823.53 $117,647 0 $535,294

294,117.60 1,764,706 52,941.18 2,352,941 $4,464,706 $5,000,000

$2,111,765 $2,352,941 $0 $2,352,941 $4,464,706

$0 $2,941,176 $1,470,588 $0 $4,411,765

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Capital Planned Investments Investor 1 Investor 2 Other Additional Investment Requirement Total Planned Investment Loss of Start-up (Start-up Expenses) Total Capital Total Capital and Liabilities Total Funding

$294,117 $294,117 $0 $0 $588,235 ($535,294)

$52,941 $4,464,706 $5,000,000

Company Locations and Facilities T'square will be located at CityONE Megamall Kuching, Jalan Song, 93350 Kuching, Sarawak, Malaysia. This location is central-epic to the geographical location for the local community. We feel it is essential to our initial ongoing success that we located ourselves in the heartbeat of the community. We also strive to create an atmosphere of acceptance and community, as well as a retail environment where individual can identify and bond with their culture. All business deliveries and shipments will be handled through the store. The company office will also be housed at this location.

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3.0Products The products of the retail shop will be good quality clothes for children (boys and girls) aged 0-12 years old. Products Descriptions T'square will offer young customers the following kids clothing: Shoes. Jackets. Sweaters. Shirts. Pants. Bags. Hats. T-shirts. Dresses and skirts. Shorts. All the kids clothing and product above are in-house branded. Future Products As we achieve and exceed our sales and profitability goals, T'square will be open chain store to more areas and our own personal in-house label of clothing that will also be expanded to add on to the collection of T'square kids clothing. We will expand our line of brands with those that have been repeatedly requested by our customers. An ecommerce website will also be expanded to increase our distribution channels so that our customer base can be expanded. SWOT Analysis Strengths: Huge product line with variations. Business will have longer hours and better prices as compared to competitors. Discounts are available for bundle buying. Expertise in providing new products to the customers quickly. Online selling could be a competitive edge over similar rivals. Opportunities: Fast growing sector in the state and in the area. Huge demand for kids apparel. High birth rate.

Weaknesses: New in business as compare to rivals. Marketing expenses in the start will be huge to establish.

Threats: Rapid changing fashion trends. Rising production costs will reduce profit margins.

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Competitive Comparison T'square has a number of advantages that will allow us to build our image, add value to our merchandise and build a loyal customer base while standing apart from our competitors.

We will be the largest kids apparel retailer in Kuching,Sarawak. The 'T'square Shopper Card' will entitle customers to a 10% discount after two purchases. We will offer clothing to fit plus-size girls and big and tall boys. We will create a sense of culture and bonding with the community by offering products that good quality and trendy. Our location is central to our target customer base. We will maintain a detailed record on each customer, logging addresses, their purchases, size, and brand for customer follow-up for in-house promotional purposes.

Sales Literature T'square will use a targeted advertising and sales program to generate publicity and build a customer base. 2,500 full-colour postcard flyers with a 10% coupon will be distributed throughout shopping mall, two weeks prior to the grand opening event.

200 grand opening invites will be mailed to potential new customers two weeks before the grand opening. The invitation will also include a promotional 10% coupon off a customer's first purchase. The customer mailing list has been compiled from contacts the owners have made while in the community. 5,000 business cards with a T'square Frequent Shopper Card on the reverse side entitling the customer to a 10% discount after five purchases.

Sourcing We will be manufacturing our own kids clothing and products. Therefore, a factory will be built at the outskirt of Kuching. By building factory at the outskirt of Kuching, we determine whether how the products are going to be made. A group of expert worker who have great experience in this field will be hired to operate the new machines. A manager will be hired to take in charge the operation in the factory. The following is the overall cost incurred in the factory. Capital investment Land Building Architect and consultant fees Developer's fees Contractor New machines Power, phone, security and data wiring Legal Other Total

$550,000 $300,000 $50,000 $350,000 $155,000 $505,000 $25,000 $65,000 $0 $2,000,000

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Technology T'square will be providing online pre-order for customers that are unable to reach our door step. In order to fulfil the need of online pre-order, we will be setting up a website on the net to allow customers that are interested in our products. The delivery cost will be covered by the us if the customers purchases more than five products. Discount will also be given to customers based on how many purchases have being made by the customers. 4.0 Market Analysis Summary Retailing kids clothing in Malaysia is projected to increase, with a positive outlook for the forecast five years, with more retailers planning to expand their outlet numbers, which will assist in further boosting sales. Despite slow economic conditions being forecast in Malaysia, consumers will continue to be encouraged to purchase by various promotional activities by retailers. The Malaysian government will demonstrate continuous efforts to promote retailing activities through organising activities such as 1Malaysia Mega Sale Carnival. Events such as these will allow retailers to conduct price reduction promotions in stores, which in turn will help to stimulate the performance of retailing. According to the Malaysian Census Bureau the population of teens (age 0-12), in 2013 was 26.0 million, which represents 14.6% of the total Malaysia population. Specialty youth clothes and products is a billion dollar niche in the clothing industry. Over the past ten years, there has been a profound change in population dynamics in the Malaysia. The non-metropolitan population has been growing at the almost the same rate as the urban population. This has created a small market niche for businesses to sell clothing and products. Currently, only a few regional malls offer access to the good quality and trendy clothing products that young people want. Unfortunately, the focus of these mall stores is only on the mainstream of the youth market. It is T'square plan to bring these new alternative fashion and products to its target customer groups.

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Market Segmentation The Sarawakian population is concentrated heavily in the urban part of the city therefore leading to the highest concentration of our customer base. The Kuching community, which is a growing population in the community in which the store is located, has statistically shown to be loyal to the certain brands. The last area of potential customers is labeled as "other." Because T'square offers a variety of apparel, along with accessories and gifts we feel that we will attract many curious shoppers. Our ambience and customer service will make them repeat customers.

Percentage of Sarawak Community Acquiring Apparel in the year 2012

15% 5% 35%
Newborn 4-6 years old 7-10 years old 11-14years old

45%
Market Analysis Potential Customers Newborn 4-6 7-10 11-14 Total Year Growth 20% 18% 13% 8% 59% Year 2009 18,247 9,682 3,724 1,276 32,929 Year 2010 19,981 11,134 4,096 1,386 36,597 Year 2011 21,879 12,804 4,506 2,048 41,237 Year 2012 23,958 14,725 4,957 2,147 45,787

Target Market Segment Strategic The target market are the parents of children in Sarawak. The retail store will be located in CityONE Megamall in Kuching. The place is ideally situated and is easily accessible from any area. A description of CityONE Megamall provides a link to the objectives of the new firm. CityONE Megamall has been described as the largest commercial development in Sarawak with gross development value (GDV) of RM300 million, CityONE Megamall offers a variety of products catering to every whim and fancy.
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While no specific figures have been found on the high quality clothing sector, the average weekly spend on clothing in the Sarawak was high. This provides an indication of how much could be targeted in terms of the clothing market for children, and for high quality products. Market Needs There are several important needs in the kids apparel business that are being either underserved or not met at all. T'square plans to meet and service those needs.

T'square will provide a large assortment of sizes to compliment the various body shapes and sizes of the local community. This is a size segment that is missing throughout the kids wear apparel retailers in the city. Focus and attention to customer's personal preferences and customer retention will be given high priority. Because of the high rate of employee turnover at major mass retailers, customer service and personal detail has been lost.

Market Growth Market growth is in an upward motion, despite some of the latest economic downturns in Sarawak. According to a report by the Malaysia Economy & Trade, Sarawak ranked second in the rate of job growth among the nation's 10 largest cities during 2010. Kuching has also been designated as the best city in the Sarawak to start a new business. For three consecutive years, Sarawak has ranked first in the nation in new business growth, according to Malaysia Business Information. The most recent survey shows that more than 20,000 new local businesses were started in Kuching. For these reasons and more, Sarawak is considered an economic leader in East Malaysia. Industry Analysis Kids wear apparel retailers are made of several kinds of stores: Small Speciality Stores: The majority of kids wear apparel is sold through small family-run speciality stores that are located in or near neighbourhood communities. 85% of the purchasing statistics for kids apparel is derived from these locations.

Large Multi-owned Apparel Retailers: These large stores mass market and sell to hardcore enthusiasts as well as the local tourists and those who purchase only during festive season.

Financial Risks and Contingencies As with any start-up business, T'square is subject to certain risks, both known and unknown, including changes to general economic conditions, changes in the level of consumer spending on or preferences in apparel, the company's ability to successfully implement various new supply chain and merchandising systems in a timely and cost effective manner, unseasonable weather trends, and greater than planned operating expenses. Some of the more predominant risks include:

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Style Piracy: Because design and styling ideas are such important competitive weapons, they are often stolen. Fashion piracy is so common that it is considered an integral part of the garment trade. While trademarks and names can be registered, laws against style piracy are of little practical value. Copying creative work is standard practice for some firms, especially the smaller and budget houses. A style produced by many manufacturers and "knocked-off" at successively lower price levels is often referred to as a "ford." This term is often applied to runaway best-sellers as well. To mitigate risk from style piracy, T'square will ensure that all of its designs are copyright protected. To date, this is the best solution to design piracy because the application process is cheap and expeditious, and the copyright protects the creative works of fashion designers for a limited term under copyright law. Due to the short life span of apparel designs, patent protection is neither available nor appropriate. Market Risk: Market risk is the risk of loss due to adverse changes in investment from market fluctuations directly related to T'square' products, services, and market segments. As the complexity of the business increases, risk management becomes increasingly important and difficult. Market fluctuations could adversely affect the results of T'square' operations and financial conditions. To mitigate exposure to market risk, T'square will use various econometric and statistical analysis tools to monitor the movement of the market interest, perform analyses on the current trends, and forecast results. In this manner, management can make the necessary adjustments in the asset and liability structure of the company. Economic Stability Risk: Changes in the economy will require that the company adjust its operations to account for financial and economical fluctuations. T'square will pursue various business strategies, including horizontal integration and economies of scale, geared toward reducing economic risk. To ensure continued profits during economic instability, the company will control the environment in which it operates by reducing uncertainty, minimizing expensive competition, and capturing a larger share of the market. Operational Risk: T'square, like all large companies is exposed to many types of operational risks, including the risk of fraud by employees or outsiders, unauthorized transactions, and errors relating to computer or telecommunications systems. To mitigate operational risks, T'square will maintain a system of controls that is designed to keep operating risk at a minimum, such as limiting authority to conduct business activities to the appropriate functional departments/branches . Supply Chain/Merchandising Risk: Due to recent events, such as terrorist attacks and political instability in third world countries, supply chain risks have been introduced or heightened, with pressure to enhance productivity, eliminate waste, remove supply chain duplication, and drive for cost improvement. To mitigate supply chain risk, management will construct and optimize "what if" scenarios about the company's future. These "what if" scenarios will serve as models by which T'square can refine and extend managerial intuition about major strategic decisions. Statistical models and methods for developing long-term, supply chain forecasts will support these scenarios.

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Early Stage Business: As a start-up company, T'square has limited operating history beyond the industry. To mitigate risks relating to inexperience, the company will leverage the experience of external advisors to provide support for management decisions, as well as industry expertise and day-to-day operations. Brand Identity: Since brands do not live in vaults without time or threat, brand risk is threatened by the loss of value due to a change in consumers' perceptions of the company. Establishing, building, strengthening, and maintaining T'square' brand, regardless of product or service, is important to its ability to attract and retain customers. Brand recognition is key to the success of T'square in local, regional, national, and international markets. To mitigate the risk associated with brand, T'square will ensure that the company's brand is clear, specific, and unique to its product and service offerings, and will build brand strength through leadership, stability, market, geography, trend, support, and protection. Intellectual Property: T'square' copyrights, trade-marks, trade secrets, methodologies, practices, tools, and other intellectual property rights are critical to success. The company relies on a combination of trademark and copyright laws, trade secret protection, nondisclosure agreements, and other contractual agreements with its employees, affiliates, clients, strategic partners, acquisition targets, and others. T'square' management will prudently monitor the company's intellectual property and ensure that adequate measures are taken to protect intellectual property belonging to the company.

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5.0 Strategy and Implementation Summary T'square will focus on becoming the favourable place in Kuching to shop for alternative clothes, shoes, and youth-oriented products. Competitive Edge T'squares' competitive advantage is offering product lines that make a statement but won't leave you broke. T'square offers products that are just ahead of the curve and so affordable that our customers will return to the store often to check out what's new. Another competitive factor is that products for this age group are part of a lifestyle statement. T'square is focused on serving the demand and expectation of young parents. We want to represent their style and life choices for their kids. We believe that we will create a loyal customer base that will see T'square as part of their lives. Furthermore, we also come out with a way for the company and the customers. Since kids grow up very quickly and many clothing will be unable to wear, in order to help customers to reduce the burden of piling up a bunch of unused clothing in their house, we suggest that customers trade in their old clothes back to us and buy new clothes out from our store just by paying some extra money. So that the old clothes will not be wasted. By doing this the customers can be happy and we also will be happy. This is because we will be taking the old clothes traded in by the customers and donor it out to the orphanage houses as an charity activities. By doing this, we can help to boost our image in the eye of the community. This will created a win-win situation for us and the customers. Marketing Strategy In this section defines the strategy and tactics of the marketing programme. The 5Ps of marketing are used as the structure to present the programme. A. Product line Strategy Tactics

Introduce the new range of high quality affordable clothing to the market. Utilise current network of shareholders and introduce the product to the market. Position the product as high quality but at affordable prices.

The quality of the products sold will be monitored closely to ensure the high quality image of the retail store and brand. A quality assessment will be conducted regularly by the management to ensure that the clothes meet the requirements. B. Pricing Strategy Tactics

Introduce the children's clothing at above the low-priced products to reflect the high quality value of the products. Provide pricing range that high quality clothing seekers will find affordable and attractive. Potentially, price the products at lower than planned margins in order to encourage the purchase of the products as it increase exposure in the market. Provide discounts to large buyers.
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C. Place Strategy Tactics

Establish base/headquarters for the retail store to develop overall brand and image. Utilise planned retail store in CityONE Megamall as the base. Develop retail store as key presence in CityONE Megamall for must-see visit of visitors in the area.

As the retail store will be big-sized in the first instance, the store will only occupy a twofloor retail shop. The floor plan will be defined once a retail store has been identified. D. Promotion Strategy Tactics Build up the brand and the new children's clothing product range to target market. Work locally to promote products including in local newspapers. Encourage word-of-mouth build-up of the brand and products through the initial customers. Utilise website to increase exposure to the target market.

The promotions programme will be dynamic and will require the use of research to validate assumptions. This will be done through data from sales, questionnaires and surveys provided to customers, and other external research. E. People Strategy Tactics Tap people with common objectives as the new firm. Hire people with a passion for the local area community to ensure delivery of good customer services in retail store. Liaise with local government to build ways to expose the retail store with the CityONE Megamall links.

Sales Strategy T'squares' strategy will be three track. T'square will advertise in the local daily newspapers such as Sin Chew Jit Poh, See Hua Daily News, Utusan Sarawak, The Borneo Post and The Star, which is focused on T'square target customer groups. We will utilize the Retail ICE POS software with every sales transaction. With each purchase the software will record and maintain in its database the customer's name, address and purchases. This information will be used with our direct mailing program to focus on our top 50% of customers. We will offer a 3 day return/exchange policy to build trust with our customers and maintain retention and loyalty.

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Sales Forecast Year 1 Units Sales Clothing Sweaters & Hats Bags and shoes Total Units Sales Unit Prices Clothing Sweaters & Hats Bags and shoes Sales Clothing Sweaters & Hats Bags and shoes Total Sales Direct Unit Costs Clothing Sweaters & Hats Bags and shoes Direct Cost of Sales Clothing Sweaters & Hats Bags and shoes Subtotal Direct Cost of Sales 5,175 285 560 6,020 Year 1 $50.00 $50.00 $20.00 Year 2 6,728 371 728 7,826 Year 2 $50.00 $50.00 $20.00 Year 3 8,746 482 946 10,173 Year 3 $50.00 $50.00 $20.00

S258.750 $14,250 $11,200 $284,200 Year 1 $25.00 $25.00 $10.00

$336,375 $18,525 $14,560 $369,460 Year 2 $25.00 $25.00 $10.00

$437,288 $24,083 $18,920 $480,290 Year 3 $25.00 $25.00 $10.00

$129,375 $7,125 $5,600 $142,100

$168,188 $9,263 $7,280 $184,730

$218,644 $12,041 $9,460 $240,145

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6.0 Management Summary Employees will be encouraged to work within their creative, physical, and intellectual boundaries. All duties will be divided and delegated according to strengths and weaknesses. At T'square we will expect a high degree of customer service skills and personality as this is essential to our success. Anslem Tay will assess the productivity and perform informal employees evaluations of all employees every six months. These bi-annual evaluations are conducive to the continued growth of our business. Organisational Structure T'square is a big business and therefore requires a functional organization structure. Tay Ju Tzen will act a Chief Executive Officer(CEO). Kelvin Tieu will act as a Chief Financial Officer(CFO). Gregory Thian will act as Chief Technical Officer(CTO). Anslem Tay will act as Chief Operating Officer(COO). An expert in marketing field will be hired to uphold the position of Chief Marketing Officer(CMO). All decisions are made in-line with the company objectives. Employee tasks are delegated based upon their level of expertise, creativity, strengths and weaknesses. Management Team Tay Ju Tzen, general manager will be responsible for managing the store. Kelvin Tieu will be responsible for all administrative functions, purchasing, inventory control, and promotions. He has spent over 10 years in accounting, finance and operations management. He has extensive background in purchasing, inventory control, and marketing. Gregory Thian will be responsible for the technological instruments in the store and office. He also receive order from the ecommerce website. Anslem Tay will be responsible for the production site, delivery of the order and shipment of the stocks. Personnel Plan The personnel plan is included in the following table below. There will be two full-time employee and two part-time employees working 20-30 hours per week. The two fulltime employee will be paid at a rate of $10.00 per hour and the two part-time employees will be paid at a rate of $8.00 per hour. All employee's will benefit from a one day paid holiday on their respective birthdays and one week of paid vacation after twelve months of employment. At this time medical benefits will not be offered to employees. As profits increase in the future medical benefits will be offered to all employees.

Personnel plan for worker in the concept store Year 1 $20,400 $12,240 4 $32,640 Year 2 $22,440 $13,464 4 $35,904 Year 3 $24,684 $14,810 4 $39,494

Full-time position Part-time position Total People Total Payroll

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Personnel plan for workers in the factory Year 1 $61,200 $36,720 15 $97,920 Year 2 $67,320 $40,392 15 $107,712 Year 3 $74,052 $44,430 15 $118,482

Full-time position Part-time position Total People Total Payroll

7.0 Financial Plan The growth of T'square will be moderate and the cash balance will always be positive. Being a retail environment we will not be selling on credit. We will accept cash, checks, and all major credit cards. Marketing and advertising will remain at or below 5% of sales. We will continue to reinvest residual profits into company expansion, and personnel. Important Assumptions T'square does not sell on credit nor do we offer layaways at this time. We accept cash and Visa, MasterCard and American Express. All sales paid via credit cards will be deposited in our business checking account within 48 hours. Our business checking account will be with Standard Chartered. Break-even Analysis A break-even analysis are an estimation of all running cost. The graph of break-even analysis is as following:
400000 300000 200000 100000 0 -100000 -200000 -300000 -400000 10000 -200000 20000 -100000 -150000 30000 -50000 -100000 40000 0 -50000 50000 50000 0 60000 100000 50000 70000 150000 100000 80000 200000 150000 -150000 -200000 -100000 0 -50000 100000 50000 150000

Costs -150000 Sales

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Projected Profit and Loss Year 1 $5,000,000 $400,000 $50,000 $450,000 $4,550,000 91.00% $500,000 $7,000 $6,000 $2,000 $24,000 $80,100 $619,100 $3,930,900 $1,000,000 $2,930,900 Year 2 $6,000,000 $550,000 $60,000 $610,000 $5,390,000 89.83% $600,000 $7,000 $6,000 $2,000 $24,000 $90,300 $729,300 $4,660,700 $1,200,000 $3,460,700 Year 3 $7,000,000 $680,000 $75,000 $755,000 $6,245,000 89.21% $700,000 $7,000 $6,000 $2,000 $24,000 $100,500 $839,500 $5,405,500 $1,400,000 $4,005,500

Sales Direct Cost of Sales Other Total Cost of Sales Gross Margin Gross Margin(%) Expenses Payroll Depreciation Utilities Insurance Rent Payroll Taxes Total Operating Expenses Profit Before Interest and Taxes Taxes Incurred Net Profit

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