Zara Business Plan (Haley Burton, Neil Colombini and Brendan Morley)
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Zara Business Plan
A few broad questions related to the finance sector of the franchise are: Do you have the financial resources or means to get the resources required to buy a franchise?, will your capital provide you with a cushion for at least one year after you have paid for the franchise, allowing a one-year period of time to break even?, what is a high estimate of your fixed expenses such as rent and your variable and operating expenses such as wages and stock?. When buying the Zara franchise rights, the franchise fee typically varies between 5% and 10% of the franchise store’s sales. Included in that fee, Zara offers franchisees full access to corporate services, such as…show more content… Because we are beginning a new franchise, we discovered that lenders would want the loan backed by collateral or guaranteed by an agency such as the Small Business Administration. Thus, we decided that we would pursue a SBA loan since the SBA is a government entity and we would be more likely able to receive a loan.
What do customers want?
- High quality fashions, at reasonable, prices. This clothing we provide must be cutting edge and exactly what people are buying in Europe.
Like every good marketing company, they must understand what the customer values and wants, not what the company wants. This must be realistic and effective. We want to know and understand the customer so well, that the clothes literally sell without advertisement needed. Zara will see a lot of its results through its marketing.
When it comes to customer service, the goal is to put customer satisfaction as the highest priority. To build good customer relationships that keep them returning. This is the foundation for many successful clothing retailers, and will be our prime goal. We have examined several other successful fashion retailers, like Nordstrom, and looked at their customer service, this is the type that we hope to impersonate. When it comes to the customer market, Zara will really research its customers thoroughly, such as asking for customer zip codes at checkout, and optional surveys. This typical market might not be the