Value Proposition
541 Vintage excels in curating a carefully curated selection of vintage apparel that is available in-store as well as online. We aim to offer clothing that isn’t available in the fast fashion market, so individuals can show off their unique styles. This helps our customers keep a few extra dollars in their bank accounts, and reduce clothing waste, all while looking incredible.
The Problem
Eugene has some options when it comes to resale shopping, but there are many options. However, customers often complain that there is too much choice and that they are difficult to find the right product.
The Solution
Vintage clothing, accessories, belts and bags are all included in this carefully curated collection. We aim to offer unique, unusual, and truly one of a kind items at reasonable prices. Our goal is to have consistent customers.
Target Market
The primary market for the 541 Vintage is young adults interested in purchasing well-made, cost-effective, and unique clothing. Common attributes are:
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Fashion, design, and collecting are your interests.
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Stand out from the crowd
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Interest in hunting for a vintage item for a bargain.
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Support sustainable fashion and resale.
Secondary target market: Shoppers who are passionate about finding bargains and treasure.
Competitors and Differentiation
Current Alternates
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There are several chain thrift shops (St Vincent de Paul’s, Buffalo Exchange, Plato’s Closet).
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A few vintage clothing shops are locally owned (Eugene Jeans N.E.S.T. )
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High quality vintage clothing/clothing thrift shop (Oak Street Vintage).
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Online vintage clothing thrift shops (threadUP.com Mercari. Etsy. eBay)
Why Use Us?
Clothing waste is increasing every year. People also find themselves buying clothing that is:
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Seen in other people
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Made with lower quality materials and manufactured cheaply
- Contributes to poor working conditions in marginalized communities around the world.
Thankfully, buying recycled items means that cheaply made fast-fashion pieces are kept out of the landfill while you stand out from the crowd in authentic vintage clothes. The 541 store has a large selection of carefully selected items, both online and in-store. Vintage has character and history. It also signifies quality.
Funding
For 700 square footage, the rental target space on East 7th or Willamette is priced at $14.61/SF/YR. Rent is calculated at $9900 per year and $825 monthly, including utilities and janitorial. Remodeling retail space will be funded with $5,000. Initial inventory costs will be $15,000 About $2,000. Marketing costs for the launch of the company. Beginning operational costs of 1 year, including bills, employee salary, etc., amounts to $25,000.
You will need $56,900 in initial funding.
Sales Channels
Retail location
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Website
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Instagram
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Google Ads
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Facebook
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Google Ads
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Insta
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Facebook Advertisements
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Affiliates/Influencers
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Website
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Blogs/Newspaper
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Flyers/Signage
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2023: $65,000
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2023: $74,000
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2024: $87,000
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2023: $56,900
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2023: $60,000
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2024: $70,000
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2023: $8,100
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2023: $14,000
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2024: $17,000
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Apply for necessary permits and licenses – August 1, 2023
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Finish renovations — August 21, 2023
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Install shelves and racks for merchandise — August 25, 2023
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Add initial store inventory. #8211; August 27, 2023
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Take professional photos of the space — August 31, 2023
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Create a website, social media, and google/yelp accounts — September 1, 2023
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Interviews and initial hire of employees. September 5, 2023
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Open for business — September 15, 2023
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Google/Yelp forecast — November 1, 2023
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Develop relationship tree for vintage clothing suppliers — December 15, 2023
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Pop-up stand to be added at the local farmer’s market — March 15, 2023
- Donation-based shops: Goodwill and Saint Vinnies are good resources to help you find vintage clothes to resell.
- Real Estate Sales: Create relationships with local estate-sale companies
- Student Organisations: Target organizations that are passionate about fashion and/or sustainability via flyers and email.
- University of Oregon Students Students with valid ID will receive a discount.
- Creation of 541 Vintage Fashion Show: Allows for local fashion designers/artists to showcase their own works while giving access to 541 Vintage’s inventory.
Marketing Activities
Projections Financial
Other expenses that will be ongoing include taxes, advertising, salaries, payroll, utilities, and taxes. Maintaining a consistent flowing inventory will be a significant cost to keep the store running effectively. Advertising expenses, which include website maintenance and paid ads, will be a consistent expense.
Revenue:
Expenses/Costs:
Profit:
Milestones
Team and Key Roles
Owner/Manager
Sales Associate/Cashier
Assists the proprietor in consigning vintage clothes and identifying which items will sell. Assisting the owner in purchasing vintage clothes for consignment and identifying items that will sell. Maintaining a clean sales floor. You will be responsible for stocking, tracking and creating merchandise tags and displays.
Partnerships & Resources
The goal of these partnerships is to create exposure to the immediate target market and increase 541 Vintage’s stake in the local vintage retail market. This will allow 541 Vintage to expand its inventory and keep it a leading collection of unique vintage items.
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