The Ask
The Ask
The business plan final project is a culmination of the curriculum, showcasing the grasp of acquired knowledge and skills, research abilities, teamwork, and creativity in crafting a professional business plan. In teams of 2-4, create a comprehensive business plan for a new fashion company, integrating quantitative and qualitative analysis.
Meet the team
Emily DeSpiegelaere
Dafne Estrella
Georgia Carr-Brown
The Process
The Process
This assignment presented the challenge of identifying a brick-and-mortar fashion business opportunity within the Richmond, VA community. As our group began brainstorming, we swiftly concluded that significant potential lies within the second-hand clothing market. This initial concept rapidly evolved into a more specific and targeted business idea.
Our team considered the Richmond demographic, which comprises a significant number of college students due to its proximity to several local colleges and universities. Consequently, their tighter budgets and heightened commitment to value and sustainability illuminated our path. We aimed to elevate the traditional thrifting experience, ultimately deciding to design a thrift business committed to a fully circular supply chain.
Outcome
Outcome
Our group thoroughly enjoyed developing this idea. Through extensive research, we refined our plan to best meet the needs of our target customer. We identified a niche for a local business that repurposes used and damaged clothes, prioritizing accessibility and inclusivity. While Richmond boasts a vibrant thrifting community, Reloved aims to push the boundaries of fashion by working with what already exists.