Our project will involve finding out the amount earned each day adding up to the week. We will be setting up an excel sheet to explain the data we find. We will be taking into account various factors that drive up costs, such as utilities, labor, taxes, employment rate, supplies, shipping costs, marketing, and fuel costs. This company sells custom tee shirts with logo designs. It will require reasonable pricing to better serve its customers. Our company opens its doors May 5, 2018 and has a growing customer base.
The Tee Factory LLC has begun conducting business with Edinburg Consolidated Independent School District for 6 months now the Tee Factory LLC is a registered vendor for the Edinburg Consolidated Independent School District they have been tapping into the retail market as of late. Imagine creating your own custom Tee shirt. You can choose the material and style of the shirt, and then the image or graphic design you want on the front or back. This is an ultimate way of expression on a Tee shirt. For example, some people might show their devotion for a particular sports team, or a celebrity. Perhaps a social message or personal cause on your shirt. Whatever you decide, you can print any image/logo on your tee shirt.The Tee Factory LLC will include the following expenses for startup:Two Dell computers-These will be high end models and utilize the following software: Microsoft Office, Adobe Photoshop and Illustrator, Coral Draw X7HP XX Laser Printer-This is a prototype printer Kiosk Computer-This will allow customers to view different options for their Tee shirt designsCompany Website-This will be used for information disbursement as well as ordering.
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Display unit-To show assorted graphic images for easier viewing.Broadband Internet connection.Desks/chairs/office suppliesSmall shirt inventory-Inventory will be kept small to lower overhead. This will be accomplished by using a shirt vendor who is one shipping day away, effectively using a just-in-time (JIT) system for managing inventory. Heat application unit-To make the sublimation transfer. Ten tips for our T-shirt business planCome up with a marketable ideaDetermine your target marketSet up your business structureManufacturing your t-shirtsPrinting your t-shirtsPricing your t-shirtsStoring and shipping your t-shirtsSelling your t-shirts retailSelling your t-shirts wholesaleMarketing and promoting your t-shirts online and offline Pricing procedureThe price of a t-shirts depends on what it costs to make the t-shirt.
When calculating the price, we need to make sure to include the actual price of the shirt, screen printing costs, shipping costs, labels and other costs such as marketing, storage/warehousing and labor. Also consider if you plan on selling retail or wholesale or both. If you are not selling your shirts to other stores or boutiques, then you might be able to price them lower since you are cutting out the middleman. Set a price that allows you to cover all the costs and make a profit as well. And don’t be afraid to price your shirts higher if your costs justify it.
Possible ChallengesIt is very obvious that any entrepreneurial endeavor is not at full completion without adversity which may arise in the course of this daily business routine. As a result, we’ve managed to compile a list of potential weak points in our business plan. These are as following challenges we have managed to asses.a)Low Internet Usageb)Lack of Knowledge about new innovations.c)Mistrust about Online Venturesd)Low use of Credit Transactionse)Low Tangibility of the Product Onlinef)High Perishability due to changing Market trends: