Business Plan
The Ask
Develop a comprehensive business plan from start to finish.
Meet the Team
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Wendy Benson
Financial Analyst
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Nathalie Santis
Marketing Manager
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Alina Taylor
Operations & Visual Merchandising Manager
Key Skills
Collaboration
Market Research
Strategic Thinking
Excel
Retail Math
Adobe Photoshop
Process
Process
Every year, millions of tons of deadstock fabric and unused materials go to waste in the fashion industry. These are often burned, buried, or forgotten. We bonded over this frustration and turned a problem into a purpose.
What is Excess?
Excess is a boutique that offers a curated selection of accessories exclusively made out of deadstock designed for women aged 35-60 who value sustainability, craftsmanship, and their individual style. Excess is an example of how the excess amount of materials wasted within the fashion industry can be used to create something new. While Richmond is home to many second hand stores, none focus solely on high-quality accessories made out of deadstock materials.
Consumer Overview
Excess targets a diverse customer base primarily consisting of women aged 35 to 60, falling within the middle to upper-middle class income bracket. These individuals earn between $80,000 and $180,000 annually. Excess' target market comprises creative marketing professionals, small business owners, entrepreneurs, and individuals from dual-income households.
Excess consists of women who also deeply value their friends and family. They prioritize spending quality time with loved ones and building new relationships within the Richmond community. Their three main values are craftsmanship, accessibility, and sustainability. These individuals prefer to invest in products that are made with ethical sourcing, sustainable materials, and eco-friendly processes. Sustainability is not just a trend for them, it is a core value.
Suppliers
O My Bag
Amsterdam-based company that designs accessories with a strong focus on sustainability and ethical production. They use eco-friendly materials such as deadstock leather and 100% recycled cotton for their signature linings.
O My Bag will supply 37.5% of all merchandise at Excess.
Hyer Goods
Brooklyn based, NYC company that creates accessories exclusively from deadstock and discarded materials, prioritizing sustainability through reduced energy use, material consumption, and landfill waste.
Hyer Goods will supply 37.5% of all merchandise at Excess.
Otto Finn
Pittsburgh, Pennsylvania based company that committed to minimizing waste, maximizing comfort, and embracing authenticity.
Otto Finn will supply 25% of all merchandise at Excess.
Financial Plan
This was calculated through our average sale amount being $120, and our conversion rate being 35% with 25 customers in the store per day.
Average Price Range:
Bags: $120 -$250, Wallets: $35 - $55, Lifestyle Products: $35 - $80, Knits: $50 - $75
