Creating a brand

Posted on: Mon, 03/03/2008 - 10:15
Creating a brand

hello all,

This is my first post, and i should start by saying, i hope i have done this right. I would love some feedback. A little about me, I want to start up a business in the 'baby' market (highly competitive i realise). I have been a retail manager for over 10 years and like many people, i want to work as hard as i have for myself now. My idea is to create a shop (one site, and create an onsite/cat service). The shop will be close to a village T room, in quite an affluent area. With the name of the shop I shall also offer a range of service to create a brand as such.... for example, the shop, parties, paint classes, singing classes - all with the same name.

Longer term, i see a chain or just a large internet base. However, this will include a number of childrens activitys too, so each 'area' of the business promotes the other.

I would love some feedback, as I know this could work if done right.

Many thanks in advance,
Jackie


Posted on: Thu, 06/03/2008 - 22:52 #1
Re:Baby Retailer

Hi Jackie,
I think its a great idea and you and your background in retail will help!!!
However as you say the "Baby" and "Childrens" market is very competitive
(ie Retail Giants such as "Mothercare Plc" and "ToysRus" have a real advantage with large economies of scale..and more recently The Largest and Most Profitable Retailer Tesco Plc has just recently launched a catalogue which includes the target market taht you are aiming for!!)
The questions you need to ask are the following:
1. Who is my target market?
2. If its internet based whats my U.S.P.? (ie Unique Selling Point)
3. Do I want to move from Clicks and Mortar to Bricks and Mortar?(ie sorry business management jargon for do I want to stay on the internet or eventually acquire retail premises!!)
4. If you are looking for funding from a bank or a lender!!! Do I require a Business Plan?
If you require help with us you can email me below
5.Check out who your competition is? ( not just locally but globally if going through the ecommerce way!!!)
6. Entrepreneurs who have been successful within retailing are the following:
1. Sir Richard Branson of the Famous Virgin Empire
2. Julian Richer of Richer Sounds
3. Nick Wheeler of Charles Twyrrt Shirt Mail Order and Internet Empire
4. Johnnie Boden of Boden Limited
5. Sir Philip Green of Arcadia nd BHS
6. Theo Paphitis of Dragons Den Fame
7. Jacqueline Gold of Anne Summers
I would research and study these successful self made entrepreneurs(ie usually you can borrow the books from your local library!!!!or you can purchase previous copies from Amazon.co.uk)
I wish you all the best for your new business venture
Rajesh Malhotra
R.Malhotra Consultants

Rajesh Malhotra
R.M.Consultants/Project Creations

Posted on: Fri, 07/03/2008 - 21:41 #2
The Baby Market

Jackie,

I thought i was reading one of my old posts for a minute, your plan background and motivation are very similar to mine.

Your not wrong when you say this market is 'highly competitive', we (www.fantasticals.co.uk) have been operating in the childrens toy market for about 9 months, on the net alone there seems to be new startups every day and there is some really good retailers out there. So in that respect you need to have a clear USP if your going to compete online.

I think the idea of trying to develop a baby brand operating across a number of different areas is a good one, if not a huge challenge for a startup business. In our experience customers show a lot of loyalty in this market so if you can offer a great service in one area of the market then it makes perfect sense to extend the brand into related areas.

Only now after 9 months are we able to diversify into related areas, the plan was similar to yours in that we would look to provide a number products/services targetted at the same market but for us that just wasnt feasable as so much resource was taken up establishing our core business.

Good Luck!

Lee