Sophisticated Scrubs Alycea Jones
Table of Contents
Section 1 - Introduction
Executive Summary
Self Analysis
Section 2 - Analysis of the Business Situation
Trade Area Analysis
Geographical Analysis
Competitive Data Analysis
Swot Analysis
Market Segment Analysis
Analysis of Location
Location
Floor Plan
Section 3 - Proposed Operation of proposed Business
Proposed Organization
Type of Ownership
Proposed Product or Service
Proposed Product or Service Mix
Suppliers
Equipment
Proposed Marketing Strategies
Pricing Policies
Promotional Strategies
Section 4 - Financing
Projected Income and Expenses
Sales Forecast
Building Cost
Section 5 - Conclusion
Section 6 - Bibliography
Appendix
Selection Letter
Print Ad
Business Card
Logo
Section 1 - Introduction
Executive Summary
Sophisticated scrubs is a retail business that will sell well needed products the Rogue Valley. The products that Sophisticated Scrubs will sell will be high quality brand name materials that include scrub shirts, pants and shoes used in the medical field. Sophisticated Scrubs will also have lanyards and fitness materials that are a luxury to have in the medical profession.
Sophisticated Scrubs will be located in Medford, Oregon. Medford, Oregon is a great place for Sophisticated Scrubs to be located in because it has many hospitals around the area and also retirement homes. Many Professions in the medical field require medical scrubs.
Sophisticated Scrubs will have a target Market of women ages 30-60 years old who have an education in the medical field. This target market will produce an estimate of $344,097 for the first year and potentially have a sales forecast of $688,194 after the first years.
To start Sophisticated Scrubs, a personal fund of $70,000 will be provided to pay for the down payments of the two loans that will be taken out. Sophisticated Scrubs will need two loans: SBA 7a loan and an SBA 504 loan. The SBA loan will be for $357,235.05 with a monthly payment of $992.31. The SBA 504 loan will be for $17,220 with a monthly payment of $143.50 for 10 years.
Sophisticated Scrubs will provide quality medical scrubs to the Rogue Valley for affordable prices with great customer service.
Self Analysis
There are many things that you need to run a successful business. A successful business requires dedication and effort and other skills that apply to the type of business that you own or run. In my business Sophisticated Scrubs I plan to sell great medical scrubs and other medical supplies, while also offering great customer service and a friendly, welcoming environment.
To run a successful business you need training, education, and experience. In my experience, I have many classes that have prepared me to run a potential business. I have great communication skills and interpersonal skills learned from my CSB block class and also from working at the Rogue Valley Manor. By having both of these skills, my business will excel in customer service. Other skills that I have learned in my high school career are team work and leadership skills. As the boss of Sophisticated Scrubs, I plan on being an energetic and helpful team player.
During the first years of running a business, it can be very hectic and stressful. One of the great things that I will provided for my business is that I will work well under stress. Stress is a great motivator for me because it pushes me to overcome my problems at hand and strive forward. This will be a great skill to use during the first years of my business.
To be a business owner, you need to be able to take calculated risks. Risks can bring in more money and future customers. I believe that taking the necessary risks to provide more money or bring in future customers to my business will be worth it, and I will take them.
By owning a business, there will be a lot of room for personal development. Some of the great things I can learn while I am running Sophisticated Scrubs are how to manage money, become a great boss and also develop my communication skills further.
With dedication, effort, and the skills that I have and the skills that I will learn while running my business, I believe that my business will be successful.
Section 2 - Analysis of the Business Situation
Trade Area Analysis
Geographical Analysis
My business Sophisticated Scrubs will be located in a great place. Not only does 1200 Biddle Rd, Medford, OR 97504 have a lot of potential customers that will pass by the shop because of its location, but it also has a great climate and great topography that will attract more customers to my business and will be easy to transport merchandise to.
In Medford Oregon, there is a population of approximately 75,134 with a population change of 11% according to the website Sperling’s Best Places. My business also has the potential to attract other customers from the cities that surround Medford. The location has many hospitals that surround the area as well such as Providence Medford Medical Center and the Rogue Valley Medical Center. With the hospitals that are around the area my business should have more potential customers who have to wear medical scrubs required for their job. My business will also be located by other stores that are popular such as Barnes and Noble, Asian Grill, and Great Clips. There are also many tourist attractions near Medford. For example, Crater Lake and Mt. Ashland are two close attractions. The Rogue Valley International-Medford Airport and Interstate 5 are less than 10 miles away from the location Sophisticated scrubs will be which will help with bringing in product/merchandise.
The climate in Medford, Oregon has a Mediterranean climate with dry hot summers and mild winters. The area within 25 milesof this station is covered byforests(86%) andcroplands(13%), according to the website Weather Spark. Thewarm seasonlasts fromJune 21toSeptember 17with an average daily high temperature above 83°F. The hottest day of the year isJuly 30, with an average high of92°Fand low of59°F.Thecold seasonlasts fromNovember 11toFebruary 17with an average daily high temperature below54°F. The coldest day of the year isDecember 25, with an average low of31°Fand high of44°F (WeatherSpark.com) The average rainfall in Medford, Oregon is 16 inches with an average 6.9 inches of snow during the year. By having a Mediterranean climate, it will be beneficial for my business. It will be beneficial for my business because with the average temperatures during the year, it will not affect customers or employees reaching my business. The average temperature will also help with the transportation of merchandise without problems.
The Cascade mountain range is located in Oregon with the highest elevation being Mt. Hood at 11,239 ft. and the lowest elevation being the Pacific Ocean at sea level. Southern Oregon also has many rivers including the Rogue River and the Klamath River. “Southern Oregon is strategically located midway between Portland and San Francisco on Interstate 5, with convenient connections to the Oregon coast via Highway 199 and to eastern Oregon via Highways 62 and 140. The region is a major commercial motor freight transportation hub, with more than 30 interstate, intrastate, and less-than-truckload (LTL) carriers based locally, along with numerous truck brokers. Rail freight service is available through Central Oregon and Pacific Railroad, connecting the region north to Eugene and south to California. Air freight services are provided by Areo Flight, Ameriflight, Empire Air, Fed-Ex, Sauder Mail Courier, Secured Courier, Swift Couriers, and UPS”(Soredi). With Sophisticated Scrubs being located in Medford, there will be many different options for shipping merchandise to my store. Whether it’s by air or by road, my company will have the merchandise it needs to create a profit.
With the Mediterranean climate, great topography and location, there will be no difficulties of transporting merchandise to my business. Medford, Oregon will be the perfect place to open my business.
Competitive Data Analysis
Scrub HubProducts / Medical uniforms including shirts, pants, and shoes. Brands including BARCO, Cherokee, Koi, and Orange Standard.
Price / Moderate price according to Yelp.com (starting at $25.00-$30.00)
Location / 115 W Main St, Medford, OR 97501
Promotion / scrubhuboregon.com, group price discounts, in house embroidery
Uniform Emporium: Scrubs;Etc.
Products / Medical uniforms including shirts, pants, and shoes. Brands include:
Barco Uniforms
Carhartt
Cherokee Uniforms
Dickies Medical Uniforms
Healing Hands
KOI
Landau Uniforms
Orange Standard
Prestige Medical
White Swan Meta
Klogs
Sanita Clogs
Peaches Uniforms
Wonder Wink
Price / Moderate price (starting at $18.00)
Location / 401 SE 6th St, Grants Pass, OR 97526
Promotion /
Swot Analysis
Helpful / HarmfulInternal / Strengths / Weaknesses
Specific market
Great customer service
Located in a well-known place / Not as knowledgeable
New store
No guaranteed customers
External / Opportunities / Threats
Discounts to people that work at the hospitals
Nursing population is increasing
New potential customers / Scrub Hub/ other stores that sell my merchandise
Bad customer reviews
Finances
Market Segment Analysis
A business needs its customers to thrive and create a profit. By concentrating on the specific target market a company has, it can make an estimate on what trends or products that the customer wants. By focusing on my businesses target market, I will be able to make better judgments on what my business will need to make a larger profit while also thinking of the 4 p’s of marketing (product, price, place, and promotion).
Demographics are the statistical data relating to the population and particular groups within it. My business Sophisticated Scrubs will have a target market of 30-60 year old, white women in the nursing career. I will be focusing on this target market, because this target market is the most common demographic of an RN. RN’s need medical scrubs and I want my business to be the one to provide them with them.
Sophisticated ScrubsDemographics
Age: 30-60 / I chose the age thirty for this demographic because thirty is the most common age of a new graduate in the Nursing career.
I chose the age sixty for this demographic because sixty is the most common age of retirement for a Registered Nurse.
Sex: Female / I chose female for this demographic because the most common sex of a registered nurse is female.
Race: White / I chose white for this demographic because the most common race for a registered nurse is white.
Income Levels: $67,930 / I chose the income level $67,930 because this is the most common income for a registered nurse.
Education: Bachelors of Science in Nursing / I chose the education level bachelors of science in nursing because this is the most common education earned for a registered nurse.
Psychographics is the study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research. The Psychographics of Sophisticated Scrubs according to the website VALS are thinkers. “Thinkers are motivated by ideals. They are mature, satisfied, comfortable, and reflective people who value order, knowledge, and responsibility. They tend to be well educated and actively seek out information in the decision-making process. They are well-informed about world and national events and are alert to opportunities to broaden their knowledge. Thinkers have a moderate respect for institutions of authority and social decorum but are open to consider new ideas. Although their incomes allow them many choices, Thinkers are conservative, practical consumers; they look for durability, functionality, and value in the products that they buy (VALS).” According to the health careers network, the top ten characteristics for a nurse to have are empathy, detail oriented, communication, intuition, physical endurance, emotional stability, critical thinking, coordinator of service, patience, and dedication.
Sophisticated ScrubsPsychographics
The reason I chose Thinkers for the psychographic for my target market, is because I believe that most registered nurses are educated and have the most common characteristics that Thinkers have. / Thinkers are motivated by ideals. They are mature, satisfied, comfortable, and reflective people who value order, knowledge, and responsibility. They tend to be well educated and actively seek out information in the decision-making process. They are well-informed about world and national events and are alert to opportunities to broaden their knowledge. Thinkers have a moderate respect for institutions of authority and social decorum but are open to consider new ideas. Although their incomes allow them many choices, Thinkers are conservative, practical consumers; they look for durability, functionality, and value in the products that they buy. Favorite Things: An informed discussion or debate, Finances management, Being a smart shopper, Proven products
For Sophisticated Scrubs to become successful it needs a target market. By Sophisticated Scrubs having the target market of a 30-60 year old, white woman with the psychographic of a thinker, I will be able to make better judgments on the products my business will need.
Analysis of Location
Location
Address:1200 Biddle Rd, Medford, OR 97504. By E McAndrew’s and Polar Dr. Medford and the Rogue valley international Internet. North Medford. Has hospitals and restaurants near it. In the Bear Creek Plaza
Competition: North Medford. 1.5 miles away 5 minutes
Traffic: Has a lot of foot and car traffic. People are going to Applebee's, Tinsletown, Toys R us, Sleep Country, and even the hospital.
Map:
Floor Plan
Section 3 - Proposed Operation of proposed Business
Proposed Organization
Type of Ownership
As the owner of Sophisticated Scrubs, I believe that the best option for the type of owner ship would be a sole proprietorship. More than 75 percent of companies use this method of ownership because it is simple for small businesses. A sole Proprietorship will allow me to make all of the decisions of my business and not have to worry about going through another person to make a decision.
Management
Sophisticated Scrubs Management
The type of management that I will run my business is with the teamwork style. This will be the way I run my business because I believe that the goals I set are accomplished better and faster with team work.
It is important for a business to have a strong leadership and teamwork ability in management. By having a great style in management, the business can excel in profits and meet set goals.
Sophisticated Scrubs will work as a team. With teamwork everybody can pitch ideas, and also solve problems with ease. Teamwork management requires hard work and dedication, along with good communication skills between all staff members. Everybody must pitch in and be clear and concise. As the owner, I will be responsible for directing when needed and evaluating the employees.
As the owner, I will be responsible for overseeing, and directing things in my business. I will make sure employees are meeting set goals and being responsible for their job duties and requirements. Their job requirements include selling products, customer service, maintaining the floor, and creating a welcome and inviting environment for the customers.
Retail employees will be paid $10.00 an hour with possible promotions for doing well, and the other manager will be paid $17.00 an hour. As the business owner and senior manager, I will be paid $28.00 an hour. In total for the year the amount of labor that I will pay for everybody is $158,079 dollars.
Sophisticated Scrubs Yearly Labor SchedulePay Per Hour / Hours Per Week / Yearly Pay
Owner/ Sr. Manager / $28.00 / 40 / $57,277
Manager / $17.00 / 40 / $36,251
Employee One / $10.00 / 40 / $21,517
Employee Two / $10.00 / 40 / $21,517
Employee Three / $10.00 / 40 / $21,517
Total / $75.00 / 40 / $158,079
Proposed Product or Service
Proposed Product or Service Mix
Sophisticated scrubs will sell well needed medical scrubs to the people of the Rogue Valley. There are only a few businesses that sell scrubs around the Rogue Valley, and I believe that my business will be unique to its consumers while still having healthy competition.
My business will carry brands such as Cherokee, Grey's Anatomy by BARCO, BARCO, Koi and others including Orange standard and Disney Uniforms. My business will have medical scrubs including long sleeved, short sleeved, and v-neck shirts, in sizes XS, S, M, L, and XL. My business will also carry medical scrub pants in sizes XS, S, M, L, and XL. All products will have a variety of colors and styles. My business will also carry different styles of non-slip shoes required in the medical field.
Sophisticated scrubs will be a great business in the Rogue Valley and will have the affordable yet durable products that the consumers will need.
Suppliers
Sophisticated Scrubs Suppliers ListCompany / Address / Phone Number / Web Address / Products / Rating
BARCO Uniforms / 350 West Rosecrans Avenue
Gardena, CA 90248 / 310.323.7315 /
/medical/default.asp / BARCO medical scrub uniforms including scrub shirts and pants. / 4
The Koi Warehouse / 725D Airport Fwy.
Hurst, TX. 76053 / 1-866-6-SCRUBS (1-866-672-7827) / iScrubs.com / Koi medical scrub uniforms including scrub shirts and pants / 4
Medical Scrubs Mall / Medical Scrubs Mall
150 South Pine Island Road, Suite 300
Plantation, FL 33324 / 888.556.1965 / / Cherokee Medical Scrub uniforms including scrub shirts and pants. / 5
Payless Shoe Source / 293 BARNETT RD
MEDFORD, OR 97501-7936 / 541-772-9246 / / SafeTstep non-slip shoes / 5
Equipment
Equipment / Quantity / PriceCash Register/POS / 1 / $632.75
Retail Tables / 2 / $455.90
Register Counter / 1 / $675.00
Shoe slate rack / 20 / $322.00
Shoe Storage Table / 2 / $119.98
Mannequin / 3 / $507.00
Display Racks / 4 / $320.00
Pricing Gun / 2 / $138.00
Open Sign / 1 / $79.50
Total / $2,950.13
Proposed Marketing Strategies
Pricing Policies