Feasibility study for a men’s clothing store project 2023 with costs and marketing – platform
Feasibility study for a men’s clothing store project. Despite the strenuous local and international efforts to create job opportunities for a wide segment of young people by including them in government jobs and private sectors, the only opportunity to absorb the huge number of unemployed youth is the establishment of small and emerging projects in various sectors, the most important of which is the commercial sector, which requires the state to provide ways Development, capacity building, education and training. In this article, we explain the feasibility study of a men’s clothing store project.
Feasibility study for a men’s clothing store project
The importance of the feasibility study for a men’s clothing store project is highlighted in giving scientific and studied evidence of the success or lack of success of investment projects, where the choice in progress towards the project is based on the results of the economic feasibility study. Through the project feasibility study, the following is identified:
Marketing feasibility study
- The request is studied in terms of size and specifications.
- Also study the offer in terms of size and specifications.
- Identify the size of the marketing gap, that is, the size between supply and demand.
- With an estimate of the expected sales of the product resulting from the investment project.
Technical feasibility study (productivity)
- Where the volume of production in the investment project is estimated.
- It also determines the size of the investment project.
- Determine the location of the project and its internal organization.
- The inputs required for the project, including equipment, machinery and all project requirements, must be studied.
- Choosing the basic facilities and facilities for the investment project.
Financial feasibility study
- The revenue of the productive project is estimated.
- Investment costs must also be estimated.
- Add to this an estimate of operational costs.
- Clarifying the investment project financing structure (capital – loans).
Organizational, administrative and legal feasibility study
- Preparing the organizational structure plan for the investment project.
- With the preparation of an estimate of labor needs in the investment project.
- Also prepare employment training plan.
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Men’s clothing store project site
The success of the project depends mainly on choosing the ideal location, especially since the project is based largely on customers. If the investor can obtain a strategic and vital location, he must take the following actual steps, otherwise the project will not succeed if it is in a limited population area. We know the details Below:
- It is important to choose the project within the commercial streets and populated areas, and most importantly, they have consumer tendencies and devour a lot of goods and commercial products.
- In the event that the place is upscale, it requires displaying distinctive goods that are characterized by a relatively high price, with the presence of international brands and high quality.
- A popular place needs medium-priced goods so that people of all classes accept them.
- The place is licensed with all legal papers completed and the standards set by the municipality are followed.
- It is appropriate to divide the store into categories, so that it includes the cheap category, the medium category, the branded clothing category, club and children’s clothing, and so on, in case the project is large.
Decoration of a men’s clothing store project
The importance of having the appropriate decoration and design lies in overcoming many obstacles and problems that the investor faces, especially in the event of a narrow space, as it aims to improve the space as much as possible and allow the movement of people within this space to flow as smoothly as possible, and the project also needs to have basics that we explain through the points And the following pictures:
- In the beginning, it requires renting or buying a clothing store, according to financial capabilities.
- With the necessity of licensing the youth and men’s clothing store.
- Clothes stands must be purchased.
- Also buy racks for clothes.
- Requires the purchase of a clothes hanger.
- Also buying a mannequin for men, about five.
- Buying a wall mannequin, according to the capital.
- Buy a desk for the shop with a comfortable chair.
- It also requires the purchase of a ladder to move clothes from the upper shelves.
- It is necessary to deal with a men’s and youth clothing factory, whether local or international.
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Cost of a men’s clothing store project
The men’s clothing store project is one of the distinguished investment opportunities, because the demand for it is large and continuous, without being restricted to a specific time for purchase, as it requires the presence of a design and decoration with all the basic requirements of the presence of shelves and stands, as well as fans and sufficient lighting, in addition to that mannequins, and invoices Water and electricity, with renting the shop, and we note from here that the total value of the project cost is twenty-nine thousand three hundred Egyptian pounds.
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Profits of a men’s clothing store project
The project is highly profitable and feasible, in the event that there is a large demand with supply, then the domestic product is large, so it is necessary to use all methods that contribute to the success of the project, such as the availability of a marketing plan that attracts a large number of customers, and with the continuation of the buying and selling process, the profits are on the rise Increasing, and the project must be optimally utilized without resorting to fictitious plans that incur huge losses to the investor and thus close the project at the first problem they encounter, so flexibility is an essential element in the project.
Success factors for a men’s clothing store project
Intelligent planning with the cooperation of the project team establishes a realistic time frame to know the costs and profit percentage, and thus a clear picture of the project milestones, and to know the measurement of the project requires identifying the satisfaction of the stakeholders of the customers and the project team, as well as the appropriate quality, and whether the project achieved its profit goals, or its cause As a result of poor planning and the incompetence of the project manager and the team, we explain the following the most important factors contributing to the success of the men’s clothing store project:
- Searching for suppliers and wholesalers with high quality products, while searching for the lowest prices from wholesale markets.
- As well as buying clothes in China through global websites, and through shipping, you can buy more luxury brands.
- Perhaps obtaining profit is the primary goal, but a good reputation and winning customers is the real success that lasts for a long time.
- Marketing the project in all direct or electronic ways, with energy and effort to reach success.
- Paying attention to decoration, design, and placing pieces in their appropriate places for easy search. It is better to stay away from classic décor, especially for young people.
Marketing a men’s clothing store project
Marketing contributes to increasing the store’s profits, by attracting more customers, through electronic platforms, or direct marketing, as it provides consumers with contact information such as address and phone number, which facilitates the purchase process and its occurrence, bearing in mind that customers depend on a trusted brand, while Here is how to market a men’s clothing store project:
- Advertising commercial goods through social media platforms, especially Facebook and Instagram.
- It is ideal to print advertising cards and distribute them to passers-by, the largest population gatherings, and to friends and relatives.
- Publication of the WhatsApp number through a large banner placed on the front, writing the details, the mechanism of communication with the project manager, and working hours.
- Making offers and discounts in seasons and advertising them through social media sites.
Feasibility study for a men’s clothing store project. The success of the project lies in following organized and flexible planning at the same time. Therefore, the importance of a feasibility study for any project is the main factor in the success of projects, regardless of their size.