1. style and fashion
2. clothing

Neat Repeats Consignment Shop
Business Plan
Owner: Donna Powers
Original: June 30, 2004
Updated: July 1, 2008
Table of Contents
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
Executive Summary
Business History, Description, Products and Services
Market Description and Analysis
3.1
Market Demographics
3.2
Market Needs
3.3
Market Growth
3.4
Market Survey
3.5
SWOT Analysis
3.5.1 Strengths
3.5.2 Weaknesses
3.5.3 Opportunities
3.5.4 Threats
Competition
Management Summary
5.1
Personnel
5.2
Business Philosophy
Application of /and Expected Effect of Investment
Financial Analysis
7.1 Important Assumptions
7.2 Capital Equipment List
7.3
Balance Sheet
7.4
Break-Even Analysis
7.5
Projected Income Statement
7.6
Cash Flow Projections
Historical Financial Reports (1989-2003)
Appendices
9.1
Profit/Loss – Schedule C (2000 & 2002)
9.2
Consignor Data and Analysis
9.3
Salvation Army Valuation of Clothing for IRS Deductions
9.4
Graph of Important Financial Information
9.5
Marketing Survey by Neat Repeats
9.6
Seasonal Sales Information
9.7
Donna Power’s Resume
9.8 Consignment Contract for Consignors
9.9 Facility Layout (Current)
Page
2-3
3-5
5-9
9-10
10-12
12-14
14-19
14
14
15
16
17
18
18-20
21-22
23
24-25
26
27
28
29-30
31
32-33
Neat Repeats – A Clothing Consignment Store
1.0
Executive Summary
Neat Repeats seeks financing of $7,500 to expand operations via remodeling of a current facility
located in Lowell, Indiana, installation of two networked computers with consignment business
software, purchase of new and/or used equipment and fixtures for retail clothing operations and
maintenance of sufficient cash reserves to properly expand operational hours and hire additional
personnel during busy seasons and expected increased sales of 18% ($93,280) over best prior
sales year ($78,960) by 2006.
Sales vs. Gross Profit vs. O perating Expenses
Total Sales
Gross Profit
Total O perating Expenses
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$0
2005
2006
2007
2008
Total Sales
$78,440
$93,280
$98,050
$101,760
G ross Profit
$39,612
$47,106
$49,515
$51,389
Total Operating Expenses
$36,906
$38,801
$40,506
$41,318
Year
These funds will improve the business significantly, but additionally, operations will change to
meet customer’s needs and the growth currently seen in the Lowell residential and commercial
areas. These changes primarily will affect access to all merchandise by:
Expanding usable facility space by 66% (from 1,200 sq. ft. to 2,000 sq. ft.)
Increasing parking by 100% (from 4 to 8 spots)
Using internet presence (www.consignment.com) and local media advertising
Automating data entry and processing via purchased consignment software ($800)
Extending customer service hours by 35% (from 38 hours to 51.5 hours)
2
Neat Repeats – A Clothing Consignment Store
The reinvention and investment in Neat Repeats will allow for continued servicing of lowincome and needy families, reliable charitable contributions and a reaffirmation of an established
25-year old business. During the course of analysis, it became obvious that factors contributing
to recent decreases in sales could only be turned around by using better technology, remodeling
the current facility and adding hours and personnel to meet customer’s and consignor’s needs.
Through use of these funds, Neat Repeats can properly make a positive move to the future and
draw new customers locally; attract sales/consignors from greater distances via the Internet; and
keep with the ‘times’ of the clothing business through automation.
Through this investment, Neat Repeats will continue to provide a social and community benefit
along with keeping a small business thriving and growing during this transitional period in
business and residential planning in Lowell. The donations of clothing immediately after the
inability to sell items also provides hundreds of people alternative means to obtain a basic need
in their lives: adequate clothing.
2.0
Business History, Description, Products and Services
Neat Repeats was founded in 1979 in Lowell, Indiana, as a sole proprietorship by Mrs. Alice
Van Nada. The business services predominately low-income families and persons by providing
nearly new and well cared for clothes to its customers via its consignment-based policy for the
suppliers of these clothes. Neat Repeats also provides shoes and jewelry, accepts small crafts
and antiques, sells audio/visual equipment and other small items of high quality at affordable
prices. Current hours of operation are Monday (1-5PM), Tuesday thru Friday (10:30-5PM) and
Saturday (9-5PM).
In 1983, Ms. Donna Powers began work for Mrs. Van Nada on a full-time basis taking on all
responsibilities related to the business, after working at Hammer’s, a retail store chain operation
in Tennessee for 5 years. In May 1989, Mrs. Van Nada sold Neat Repeats for $3,000 to Ms.
Powers and the business moved to 222 E. Commercial Avenue (the key thoroughfare) in Lowell
due to potential business growth and has continued on as a family operation ever since.
3
Neat Repeats – A Clothing Consignment Store
Over the past 15 years, approximate 5,000 persons have consigned clothes on a 50/50 split of the
sale proceeds. (Example: On a $4.00 item, $2.00 is paid to the consignor.) Approximately 7501,000 customers are active consignors (those shopping and/or submitting clothes for approval
within a 90-day period.) Many consignors have over a 100 items of clothing, jewelry and
miscellaneous items listed for sale at any one period of time. In the past 15 years, approximately
$913,000 in sales has been generated on these affordably priced items.
Sales by
Month
January
February
March
April
May
June
July
August
September
October
November
December
Totals
Sales by
Month
January
February
March
April
May
June
July
August
September
October
November
December
Totals
1989
1990
1991
1992
1993
1994
1995
1996
$3,354
$3,412
$3,189
$4,151
$6,211
$4,365
$5,005
$4,212
$33,898
$3,265
$3,295
$5,238
$5,110
$4,181
$3,392
$3,824
$4,325
$4,537
$5,390
$5,563
$4,423
$52,541
$2,668
$3,768
$5,371
$5,715
$5,083
$2,635
$4,433
$4,131
$4,294
$3,309
$7,376
$3,594
$52,377
$3,303
$3,224
$4,006
$5,937
$6,162
$5,850
$6,638
$5,854
$6,666
$7,989
$7,000
$5,249
$67,879
$5,338
$4,874
$7,425
$7,183
$6,816
$6,155
$5,159
$5,102
$8,030
$9,031
$7,387
$6,460
$78,960
$3,556
$3,884
$6,936
$6,768
$6,096
$6,214
$5,680
$5,542
$5,773
$7,448
$6,531
$5,323
$69,750
$5,323
$4,661
$4,012
$6,127
$6,184
$6,320
$4,580
$4,703
$5,292
$7,048
$7,525
$6,165
$67,940
$5,255
$4,292
$4,966
$5,488
$6,462
$6,662
$5,495
$4,401
$5,520
$6,735
$7,742
$6,642
$69,661
1997
1998
1999
2000
2001
2002
2003
$4,655
$4,397
$5,315
$6,682
$7,588
$7,364
$5,438
$5,258
$5,317
$7,482
$6,639
$5,258
$71,392
$4,065
$4,536
$4,892
$6,529
$6,077
$4,790
$4,975
$5,483
$6,591
$7,826
$6,562
$4,311
$66,637
$4,114
$4,521
$7,090
$5,525
$5,478
$5,764
$4,262
$5,253
$6,567
$8,104
$5,323
$4,507
$66,508
$3,863
$3,590
$5,333
$6,434
$5,261
$4,808
$4,947
$4,575
$6,710
$6,386
$5,999
$4,275
$62,182
$3,159
$4,126
$6,296
$4,931
$4,790
$4,255
$3,393
$4,523
$6,546
$6,337
$5,539
$4,180
$58,076
$3,300
$2,854
$5,896
$4,985
$4,927
$3,689
$3,592
$4,017
$5,004
$5,759
$5,225
$3,384
$52,631
$2,791
$2,069
$3,920
$4,262
$4,812
$3,325
$2,261
$3,056
$4,033
$4,414
$3,978
$2,910
$41,832
Avg.
Month
$3,904
$3,864
$5,478
$5,834
$5,551
$4,976
$4,524
$4,692
$5,806
$6,508
$6,226
$4,726
$62,740
Staff prices items according to: neatness, wear, styling and seasonality of items.
Sale prices are set to approximately 10% to 30% of the actual retail prices of similar garments
found at local department stores, chain outlets and larger market shops. Items are typically kept
for a period of 90 days while in season, then reduced to half price for another 30 days during
changeover to the following season. After 120 days, the items are typically donated to charities
4
Neat Repeats – A Clothing Consignment Store
like American Veterans, Juvenile Diabetes or Gleaners (in Cedar Lake, Indiana), but each
consignor has the option to pickup any unsold items after 120 days. Consignors are paid out 50%
of all sales recorded or they can use this credit to buy items at the shop. Items can also be put on
layaway or taken out on account and paid for at a later date. A liberal return policy is in place to
continue to attract customers and provide reasonable means to assess the suitability of the item(s)
for use and wear.
Neat Repeats has used local advertising via radio and spots in local publications to promote its
service, but mainly word-of-mouth has been the primary means to grow and sustain operations
during the past two decades. Various local businesses are welcome to advertise and leave
appropriate business information/cards to enhance their services (and Neat Repeats) and thus
provide interconnection to the community-at-large.
3.0
Market Description and Analysis
Neat Repeats possesses good information about the current market and understands a great deal
about the type, attributes and location of its most frequent and loyal customers and consignors.
Neat Repeats has employed various means to further this general knowledge and expand on it
with simple surveys, informal interviews and analysis of similar shops and services. With this
knowledge, a basic market exists for reasonably priced second clothing for various family
members and single persons on a fixed budget. Neat Repeats has met this need for 25 years for
thousands of consumers and consignors.
3.1
Market Demographics
The profile for Neat Repeats’ customer consists of the following geographic, demographic and
behavior factors.
Geographic
The immediate town of Lowell with population of 7,505. (2000 U.S. Census – 16%
growth in 1990’s.)
A 40-mile area is in need of the consigned products.
5
Neat Repeats – A Clothing Consignment Store
The total targeted population is approximately 15,000-25,000.
Demographics
Male: 10 – 15%, Female: 85 – 90%.
Ages: 18– 70.
Single and low-income mothers, grandmothers and fixed-income elderly persons.
Bargain shoppers looking for unique styles, one-of-a-kind items and general use items.
Behavior Factors
Consignors looking to generate income off items and find deals on current inventory.
Mothers and grandmothers shopping for children’s and women’s apparel.
Customers looking for last minute items at reasonable expense.
3.2
Market Needs
Neat Repeats provides its customers a wide array of in-season articles of clothing and other
general merchandise at reasonable prices through its arrangement with consigners.
Customer Service – Patrons have loyally shopped with Neat Repeats for over two
decades due to friendliness of management and quality and value of items.
Competitive Pricing – All items are priced between 10 – 30 % of retail priced items,
unless otherwise asked by consignors, but marked at final discretion of Neat Repeats.
Selection – In the future, all seasons will be available, adding 5-10% in additional sales
from off-season discounting and increasing viewable inventory.
Accessibility – The stores hours will expand by 35% to further growth of sales and
increased parking will additionally promote ease-of-use to the shop.
3.3
Market Growth
Recently, Consignment shops have become more and more in vogue and less considered just a
smaller, glorified version of a flea market. Sales of used items has topped the 1.5 billion sales
mark and currently more than 15,000 shops exist in America according to U.S. Bureau of
Statistics and NARTS (National Association of Resale and Thrift Shops). Internet sales on
websites such as Ebay.com, Half.com and other smaller, used-item, internet-friendly shops have
become a considerable force in the retail sales industry in the past few years.
6
Neat Repeats – A Clothing Consignment Store
Neat Repeats has recently promoted its services at www.consignmentshops.com,
www.consignmentshopsearch.com and www.bestconsignmentshops.com to attract internet users
and customers. These sites are rated in the top five on search engine sites such as Google, Yahoo
and AltaVista, which have resulted in several inquiries and sales in recent months.
It is future plan in 2005 to promote sales online, allow for reserving items for pickup and
possible shipment for a minimum order price and shipment cost. In working toward utilizing
Internet capabilities, small gains in sales can be assured at a minimal cost to providing this
service by solely displaying images of products and range of prices for these items. Affiliation
with consignment shops and other better-known outlets for services can bring in consumers
locally and extend the range of both buyers and consignments.
3.4
Market Survey
An in-house survey was done of 62 customers over a 4-day period to see what primarily attracted
them to shopping and submitting clothing to the business. Questions asked are summarized in
(Appendix 9.5) and data analysis is tabulated below. (See Table 1.)
♦ Question #1 was asked to find what attracted customers the most about shopping at Neat
Repeats.
♦ Question #2 was to determine the importance of specific attributes of shopping at all retail
stores.
♦ Question #3 was to see if off-season items have an appeal to the consumers.
♦ Question #4 was to seek a reputation rating compared to other Consignment outlets.
♦ Question #5 was written to illicit a free form response about suggested improvements.
Based upon these results, Neat Repeats has a excellent reputation with its consignors and has
over 35% of those surveyed that came from 10-30 miles away to purchase and consigned
articles. Overall, affordability, quality goods and customer service is the primary reason people
shopped Neat Repeats. Facility layout and parking was not considered a priority, but in question
#5, nine responses related to bigger space, more items, more off-season stock and parking
7
Neat Repeats – A Clothing Consignment Store
concerns. Those surveyed rated Neat Repeats “Better than most” in 50 of 62 responses. Zero
customers rated Neat Repeats worse than “On Par with Others.”
Table 1. Questionnaire
Sex
Count
Age
Females
58
46.4
Males
4
40.3
Question #1
Children
2.05
2.25
Customer Service
Low Price
Item Var.
Quality
48
1
48
2
32
0
40
3
Question #2
Sex
Females
Males
Count
58
4
Customer Service
Low
Item
Current
Quality
Layout
2.44
4.67
1.82
2.25
2.84
2.67
3.18
4.33
2.06
2
4.76
4.33
Question #3
Sex
Females
Males
3.5
Count
58
4
Yes
52
4
Question #4
Rating
No
5
0
4.65
5
SWOT Analysis
The following SWOT analysis captures keys strengths and weaknesses within the company and
describes the current and potential threats facing Neat Repeats.
3.5.1 Strengths
Strong relationships with nearly 1,000 consigners that enables Neat Repeats to secure
ample inventory and customers
25 years of operation in Lowell, IN with knowledge about customers, consigners and
local businesses in similar industries
Excellent staff that understands the desires of its customers and how consistency of
service that has kept long time relationships with 100’s of consignors
3.5.2 Weaknesses
Neat Repeats lacks computer software to track consignors, generate effective reports
Limited floor space has kept off-season items in basement storage area, costing sales
and creating more handling of items for switching seasons
8
Neat Repeats – A Clothing Consignment Store
3.5.3 Opportunities
Lowell and the surrounding area is growing significantly, both residentially and
commercially, allowing a new generation to find and shop Neat Repeats
Existence of the internet and advertising via that medium provides a low-cost outlet
to acquire new sales markets – currently using several sites to expand exposure
3.5.4 Threats
4.0
Competition via current resale shops in Lowell and surrounding area
Inability to acquire appropriate floor space to display off-season products
Inability to attract younger consigners and current styles that address fashion needs
Competition
During the past 25 years, Neat Repeat’s competition has come from the following businesses:
1. Cinderella’s Closet (currently, located in Lowell’s uptown area since 1998)
2. Once Upon A Child (Schereville, Indiana)
3. Just Like New (Crown Point, Indiana)
4. Second Time Around (Demotte, Indiana)
5. Thread’s (a small retail clothing store in Lowell, predominately retails jeans and shirts)
6. Born to be Worn (now defunct)
7. Methodist Resale Shop – a charitable organization since the 1960’s in Lowell
8. Charitable organizations in Cedar Lake and Hammond, Indiana
9. Summer garage sales in Lowell, Indiana and the surrounding areas
All of these businesses, plus retail outlets in Merrillville, Crown Point and Schereville, IN make
the retail (and second hand) clothing industry extremely competitive for sales. The current
pricing structure of many chain stores has made it more important to find opportunities to
increase sales via any method available, including online ads, radio spots, print media and other
methods to bring customers into Neat Repeats, yet maintain low prices.
Changes in consignors’ makeup have also contributed to recent sales drops. This is primarily
due to long-time consignors moving out of Lowell, Indiana, family needs changing and income
9
Neat Repeats – A Clothing Consignment Store
variations in recent years. Yet, improvements are prevalent in the recent months to Lowell’s
overall business health, including a 50 million dollar renovation of the 34-year old high school,
200 residential homes contracted for build and introduction of several larger chain outlets for
food and convenience, namely Aldi’s and Walgreens. Overall, 10-15% population increases in
recent years provide future opportunities to obtain a new consignors and customers.
5.0
Management Summary
Donna Powers grew up in Lowell, Indiana and graduated from Lowell High School in 1970.
After graduation, Donna joined the United States Marine Corps and served 2 ½ years working as
an assistant retail sales manager at Quantico Air Station in Quantico, VA before being honorably
discharged after giving birth to a son in August 1972.
In 1974, Donna began work at Genesco lady boot factory in Winchester, Tennessee for a period
of four years and obtained certification as a shoe binder. In 1978, she took a sales position at
Hammer’s, primarily working in the men’s department and general merchandising for the next 5
years. Throughout this time, she continued education at Motlow Community College in
Business Administration in Tullahoma, Tennessee taking 90 quarter-hours with a 3.0 GPA.
Upon moving back to Lowell, Indiana, Donna found employment with Mrs. Van Nada and while
working at Neat Repeat’s, she attended Commonwealth Community College also in Business
and fell 12 credit hours short of Associate’s Degree but maintain a 3.06 GPA. She has also
tutored children in reading and mathematics through the Lowell Public Library, coached girl’s
volleyball team at St. Edwards and raised her son by herself. Her resume is included in
(Appendix 9.7.)
Overall, thirty years of experience has given her the ability to balance multiple projects, great
hands-on experience and knowledge within the retail clothing industry and the long-term
commitment to a small business operation from a variety of standpoints – accounting, inventory,
sales and consigner development.
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Neat Repeats – A Clothing Consignment Store
5.1
Personnel
Linda Clark also graduated Lowell High School in 1969 and has lived in Lowell, Indiana for 40
years. She has worked in various positions in clerical administration, residential housekeeping
and office maintenance in a law firm for a period of 19 years. Since 1989, she assisted Ms.
Powers in business administration, product pricing and placement and consigner development.
She has also designed and sold small craft items for various holidays and theme-oriented events
to the Lowell Library and individuals at Neat Repeats looking for such items.
Upon expansion of hours, hiring of a part-time sales associate will also be required for the
evening hours for the busier parts of the year. These plans will coincide with the increased sales
and inventory management.
5.2
Business Philosophy
The philosophy of Neat Repeats is to provide customers the most affordable clothes in the area
while maintaining high standards for consigned items, carrying a wide variety of sizes, styles,
colors and categories and giving reasonable leeway in payment options to those customers in
need of items. During the course of 25 years of operations, many consignors and customers have
loyally stayed frequent buyers and sellers due to this friendliness, affordability and flexibility of
the business. In performing charitable operations too, Neat Repeats has also donated tens of
thousands of articles of clothing that unfortunately did not meet customer’s needs and tastes. To
best summarize the key values of Neat Repeats, these would be:
Affordability
Quality Clothing
Charity
Flexibility
Service
Friendliness
Neat Repeats has prided itself for 25 years on doing its best to meet customer’s needs and give
consignors every benefit in providing their items for sale. In the future, changes will only be
made to enhance the ability to access and record information, facilitate sales and improve the
11
Neat Repeats – A Clothing Consignment Store
quality and quantity of goods. In (Appendix 9.8), the consignment contract used for two decades
is listed.
6.0
Application of/and Expected Effect of Investment
The expansion and improvement of Neat Repeats and increasing sales will be due to the
following operational changes made upon and in lieu of receiving this $7,500 in financing:
Expansion of business hours from 5PM weekdays to 7PM weekdays and 6PM on
Saturday – an increase of 13.5 hours (35.5% increase)
Increase in Operating Hours
Current
Proposed
12.0
10.0
10.0
9.0
8.5
8.5
8.5
8.0
Hours per Day
8.0
7.0
6.5
6.5
6.5
6.5
6.0
4.0
4.0
2.0
0.0
0.0
0.0
Monday
Tuesday
Wednesday
Thursday
Friday
Saturday
Sunday
Days of the Week
Hiring a part-time employee for 20 hours per week at $7/hour and/or implementing a
summer/fall internship or $2,500 scholarship for college tuition for a senior high school
student
Remodeling the current basement level facility where off-season items are located and
stored, thus increasing off-season sales now foregone due to appearance and staffing
An expansion of retail floor space from 1,200 sq. ft. to 2,000 sq. ft. with appropriate
fixtures along with a coinciding expansion of parking spaces (Appendix 9.9 & 9.10)
12
Neat Repeats – A Clothing Consignment Store
Utilizing current database technology to improve efficiency and effectiveness to the
customers and consigners by automation of standard entries, receipts and item tracking
Utilization of IRS deductions for all non-cash donations to charity (up to $5,000) for
unsold inventory (items consignors relinquish property rights thereof)
Slight increase advertisement via radio spots and print ads, in addition to
Utilization of Internet exposure via website access and information –
www.consignmentshop.com. Future emphasis will be placed on attracting more
business and exposure via the Internet and establishing an online sales selection.
Overall, the $7,500 will be utilized in the following manner:
Investment Breakdown
Computers and Monitors
Software
Printer(s)
Remodeling
Clothing Fixtures
Cash Reserves
Total Investment
% of Investment
Amount
$1,000
$800
$200
$2,500
$1,000
$2,000
$7,500
13.3%
10.7%
2.7%
33.3%
13.3%
26.7%
100%
Neat Repeats provides an important community service to many single women with families,
older citizens on fixed incomes and less affluent residents by giving them viable options with
regards to clothing and merchandise while maintaining current styles. Through customer
service, knowledgeable staff and a friendly atmosphere, all customers can shop and also provide
suggestions to improving their shopping experience.
Due to space limitations, Neat Repeats has been only able to provide in-season merchandise to
its customers. Therefore, out-of-season sales were lost due to this constraint. In making
modifications to increase sales volume, space was one limiting factor that would be addressed
through funding initially and sustained through increased sales over the next 4 years. By adding a
part-time employee to meet customer service demands, Neat Repeats will also provide an
educational atmosphere in running a semi-charitable organization and learning about clothing
styles, consignment business operations and analysis.
13
Neat Repeats – A Clothing Consignment Store
The expected effect of this capital investment is to increase sales by (32%) and reverse a 4-year
trend of diminishing sales and profits while improving business operations, continuing a
community service to low-income families and establishing a future marriage of technology and
affordable services. In the next section, examination of income statements, balance sheets,
break-even analysis and cash flows, along with historical information will provide additional
groundwork to support this proposal.
7.0
Financial Analysis
The following sections will provide important financial data and analysis and lend support to the
operational changes all ready discussed in Sections 1-6.
7.1
Financial Assumptions: General Assumptions for Operational Expenses and Interest Rates
Year
2005
2006
2007
2008
Rent per Month
$450
$460
$470
$480
$2000
$2250
$2300
$2325
Interest Expense %
12%
12%
12%
12%
Federal Tax %
35%
35%
35%
35%
Sales tax %
6%
6%
6%
6%
All Utilities per Year
7.2
Capital Equipment List
♦ Clothing Fixtures represent the majority of equipment currently employed at Neat Repeats –
8 circular rack stands that hold 150-200 men’s and women’s shirts or pants, 8 -15’ long wall
racks hold 250 to 300 pants, tops and shorts. 7 wooden racks hold clothes in the basement
currently. 4 other high level racks (taller than 60”) hold 150 coats and dresses. Though full
depreciated, salvage value would net approximately $750.
♦ 3 Desks are worth approximately $250 are located in various parts of the facility.
♦ Miscellaneous Equipment exists to assist in the hanging clothes in a neat and orderly
manner. Hangers number in the 20,000 range and would have a marginal value of $500.
♦ A 10-year old Ford Escort and 5-year old computer was originally purchased through profits
obtained in operational years 1993-1999. Total value: $10,650, fully depreciated.
14
Neat Repeats – A Clothing Consignment Store
7.3
Balance Sheet
Pro Forma Balance Sheet
Jan-05
Jan-06
Jan-07
Jan-08
Current Assets:
Cash
$4,500
$7,346
$8,584
$10,176
Accounts Receivable
$588
$700
$735
$763
TOTAL CURRENT ASSETS
$5,088
$8,045
$9,320
$10,939
Fixed Assets:
Clothing Fixtures and Office Equipment
$6,145
$6,195
$6,345
$6,495
Vehicle
$9,250
$9,250
$9,250
$9,250
Computers and Printers
$3,400
$3,600
$3,600
$3,600
Furniture
$250
$250
$250
$250
Building Improvement
$2,000
$2,000
$2,000
$2,000
Less Accumulated Depreciation
($16,045)
($16,895)
($18,595)
($21,145)
TOTAL FIXED ASSETS
$5,000
$4,400
$2,850
$450
Other Assets:
Intangible Assets
$2,500
$2,500
$2,500
$2,500
Less Amortization
$0
$0
$0
$0
TOTAL INTANGIBLE ASSETS
$2,500
$2,500
$2,500
$2,500
TOTAL ASSETS
$12,588
$14,945
$14,670
$13,889
Liabilities and Equity:
Current Portion of Long Term Debt
$2,800
$2,800
$2,800
$0
Accounts Payable-Consignors
$2,500
$2,500
$2,500
$2,500
TOTAL CURRENT LIABILITIES
$5,300
$5,300
$5,300
$2,500
Long Term Debt
$5,600
$2,800
$0
$0
TOTAL LIABILITIES
$10,900
$8,100
$5,300
$2,500
Owner's Equity
$1,688
$6,845
$9,370
$11,389
Paid In Capital (Initial investment)
$3,000
$3,000
$3,000
$3,000
Retained Earnings
($2,007)
($44)
$2,129
$3,350
Earnings
$696
$3,889
$4,241
$5,039
TOTAL CAPITAL
$1,688
$6,845
$9,370
$11,389
TOTAL CAPITAL AND LIABILITIES
$12,588
$14,945
$14,670
$13,889
NET WORTH
$1,688
$6,845
$9,370
$11,389
15
Neat Repeats – A Clothing Consignment Store
7.4
Break - Even Analysis
Break Even Analysis of Sales Monthly to Cover Costs and Consignment Payouts
Monthly Fixed Costs
Break Even
$7,000
$6,000
$5,000
$4,000
$3,000
$2,000
$1,000
$0
2005
2006
2007
2008
Monthly Fixed Costs
$2,659
$2,739
$2,853
$2,914
Break Even
$5,319
$5,478
$5,705
$5,827
Year
It should be noted that since no direct unit price can be given, only an analysis of current fixed
costs, such as rent, salaries, utilities, office supplies, sales tax and insurance (with consignment
payable being the variable expense based on sales) can be analyzed to show a break-even of
revenues needed.
16
Neat Repeats – A Clothing Consignment Store
7.5
Projected Income Statement
Pro Forma Profit/ Loss Projection
Total Sales
COGS
Gross Profit
Gross Margin %
2005
$78,440
$39,220
$39,220
50.0%
2006
$93,280
$46,640
$46,640
50.0%
2007
$98,050
$49,025
$49,025
50.0%
2008
$101,760
$50,880
$50,880
50.0%
TOTAL EXPENSES
Rent
Owner's Salary
Employees' Payroll
Utilities
Advertising
Internet Fees
Bank Fees
Business Insurance
Maintenance
Garbage Disposal
Sales Tax
Office Supplies
Bags
Postage
Advanced Fixtures
Bad Debts/Theft
Misc Expense
Total Operating Expenses
$5,400
$16,500
$5,500
$2,000
$200
$150
$700
$260
$300
$400
$4,440
$300
$145
$111
$250
$250
$150
$36,906
$5,520
$17,000
$5,500
$2,250
$200
$150
$800
$270
$300
$450
$5,280
$325
$145
$111
$250
$250
$150
$38,801
$5,640
$17,500
$6,000
$2,300
$250
$175
$850
$280
$325
$450
$5,550
$400
$175
$111
$250
$250
$150
$40,506
$5,760
$18,000
$6,000
$2,325
$250
$200
$850
$285
$150
$475
$5,760
$430
$185
$148
$250
$250
$150
$41,318
Income before taxes
$2,314
$7,839
$8,519
$9,562
Self-Employment Tax
Employee Withholdings
Interest Expense
Earnings b/ Federal Taxes
Federal Taxes (35%)
Retained Earnings
Net Profit/Sales
$256
$688
$300
$1,070
$375
$696
0.89%
$869
$688
$300
$5,983
$2,094
$3,889
4.17%
$944
$750
$300
$6,525
$2,284
$4,241
4.33%
$1,060
$750
$0
$7,752
$2,713
$5,039
4.95%
17
Neat Repeats – A Clothing Consignment Store
7.6
Cash Flow Projections
Cash Flow Pro Forma
Cash Received
From Operations
From Receivables
Subtotals from Operations
2005
2006
2007
2008
$78,440
$0
$78,440
$93,280
$0
$93,280
$98,050
$0
$98,050
$101,760
$0
$101,760
Additional Cash Received
Sale Tax (included in operations9)
New Current Borrowing
New Other Liabilities
Sales of Short term Assets
New Investment Received
Subtotal Cash Received
2005
$0
$0
$7,500
$0
$0
$7,500
2006
$0
$0
$0
$0
$0
$0
2007
$0
$0
$0
$0
$0
$0
2008
$0
$0
$0
$0
$0
$0
Expenditures from Operations
Cash Spent on Costs and Expenses
Wages, Salaries, Payroll taxes
Payment of Accounts Payable
Subtotal Spent on Operations
2005
$49,836
$22,944
$0
$72,780
2006
$57,811
$24,056
$0
$81,867
2007
$60,631
$25,194
$0
$85,825
2008
$62,588
$25,810
$0
$88,398
Additional Cash Spent
Sales Tax
Federal Taxes on Business
Purchase of Short-term Assets
Purchase of Long-term Assets
Other Liabilities Principal
Repayment
Subtotal Cash Spent (Other)
2005
$4,440
$375
$3,000
$2,500
$0
2006
$5,280
$2,094
$0
$0
$2,800
2007
$5,550
$2,284
$0
$0
$2,800
2008
$5,760
$2,713
$0
$0
$2,800
$10,315
$10,174
$10,634
$11,273
Initial Cash Balance (01/01/Year)
Net Cash Flow
Cash Balance
$4,500
$2,846
$7,346
$7,346
$1,239
$8,584
$8,584
$1,591
$10,176
$10,176
$2,089
$12,265
18
Neat Repeats – A Clothing Consignment Store
Profit Loss Statement
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
Total Sales
$33,898
$52,541
$69,750
$824
$11,446
$5,723
$63,203
$67,940
$1,170
$11,667
$5,834
$60,937
$69,661
$979
$13,815
$6,907
$61,774
$71,392
$1,023
$13,748
$6,874
$63,495
$62,182
$58,076
$4,727
$4,727
$47,814
$78,960
$1,043
$9,275
$9,275
$68,642
$66,508
$1,816
$1,816
$32,082
$67,879
$1,310
$7,535
$7,535
$59,034
$66,637
Materials and Supplies(COGS)
Credits and Allowances
Reduction of Profit by Credit Sales
Gross Profit
$52,377
$178
$4,940
$4,940
$47,259
$13,271
$6,635
$60,001
$12,870
$6,435
$60,073
$12,998
$6,499
$55,683
$12,246
$6,123
$51,953
$52,316
$616
$12,366
$6,183
$45,517
$41,832
$773
$11,492
$5,746
$35,313
$700
$1,700
$342
$150
$15,665
$1,750
$3,050
$4,275
$4,800
$442
$181
$13,840
$2,500
$160
$1,970
$84
$4,800
$309
$184
$14,210
$3,100
$4,800
$372
$175
$14,280
$4,365
$561
$279
$4,800
$4,900
$5,100
$187
$15,085
$3,075
$706
$1,688
$45
$180
$12,525
$2,225
$635
$1,863
$95
$227
$10,745
$2,025
$653
$1,799
$55
$250
$6,763
$522
$697
$200
$1,936
$26,855
$500
$200
$1,936
$26,613
$4,800
$475
$175
$15,220
$1,400
$13
$1,728
$40
$57
$734
$250
$645
$25,537
$4,800
$150
$17,430
$2,000
$512
$1,514
$150
$86
$4,800
$514
$156
$13,540
$2,500
$329
$1,661
$4,800
$336
$150
$16,090
$2,000
$103
$431
$38
$4,575
$90
$150
$16,625
$2,500
$433
$1,867
$200
$247
$184
$25,249
$21,694
$24,832
$25,786
$22,571
$20,588
$14,724
$29,386
$3,503
$30,376
$3,363
$30,861
$3,448
$29,949
$3,533
$27,435
$3,335
$25,842
$3,270
$320
$353
$189
$24,354
$3,095
$349
$330
$191
$22,136
$2,859
$491
$259
$153
$18,625
$2,645
$241
$16,668
$2,471
Fixed Expenses
Rent
Garbage Disposal
Business Insurance
Owner's Salary
Additional Salaried Expense
Bank Fees and Charges
Utilities (Electric and Water)
Advertising
Maintenance
Legal and Professional Fees
Bad Debts
Loan Expense
TOTAL FIXED EXPENSES
$10,050
$1,700
$35
$25
$25
$774
$13,309
$277
$134
$140
$185
$1,326
$21,669
$261
$1,904
$24,027
$114
$2,007
$28,238
$60
$365
$279
$1,960
$28,904
$26,334
$3,345
$30,694
$3,946
$1,687
$140
$62
$607
$150
$11,589
$2,250
$726
$1,753
$40
$200
$561
$1,757
$225
$68
Variable Expenses
Consigner Payable
Sales Tax
Office Supplies
Advanced Fixtures
Bags and Containers
Postage
Donations
Dry Cleaning
Misc. Expense
TOTAL VARIABLE EXPENSES
$14,193
$1,674
$266
$365
$33
$125
$75
$33
$89
$16,854
$23,433
$2,601
$696
$21,551
$2,593
$663
$28
$200
$205
$16
$71
$27,249
$72
$89
$40
$2,124
$27,131
$30,319
Total Expenses
$30,162
$48,919
$51,158
Income before Taxes
$1,920
TAX EXPENSE(QUARTERLY)
FEDERAL INCOME TAX(Personal)
TOTAL TAXES
Retained Earnings
$1,920
-$1,104
$2,415
$2,221
$4,636
-$5,740
-$3,899
$2,782
$1,889
$4,671
-$8,570
$100
$87
$553
$41
$91
$164
$58
$65
$64
$32
$142
$5
$20
$30
$127
$34,900
$15
$46
$33,171
$106
$34,009
$34,373
$33,482
$30,803
$29,974
$315
$28,634
$25,949
$21,658
$19,139
$58,557
$63,803
$60,027
$60,622
$59,910
$58,731
$52,496
$54,805
$54,420
$48,520
$42,245
$33,863
$476
$2,400
-$233
$2,167
-$1,691
$4,838
$2,600
$2,091
$4,691
$147
$3,177
$1,250
$3,455
$4,705
-$1,528
$314
$1,100
$1,465
$2,565
-$2,251
$1,864
$350
$484
$834
$1,030
$4,764
$0
$1,981
$1,981
$2,783
$7,505
$0
$1,679
$1,679
$5,826
$5,268
$0
$1,656
$1,656
$3,612
$1,263
$0
$1,663
$1,663
-$400
$3,433
$0
$1,040
$1,040
$2,393
$3,272
$0
$767
$767
$2,505
$1,450
$0
$137
$137
$1,313
18
Neat Repeats – A Clothing Consignment Store
Balance Sheet
May-89
Jan-90
Jan-91
Jan-92
Jan-93
Jan-94
Jan-95
Jan-96
Jan-97
Jan-98
Jan-99
Jan-00
Jan-01
Jan-02
Jan-03
$3,500
$0
$3,500
$8,920
$425
$9,345
$8,036
$528
$8,564
$9,572
$643
$10,215
$7,385
$850
$8,235
$7,348
$819
$8,167
$5,645
$885
$6,530
$4,630
$725
$5,355
$2,714
$455
$3,169
$2,369
$635
$3,004
$3,924
$550
$4,474
$5,024
$735
$5,759
$3,341
$525
$3,866
$2,952
$700
$3,652
$2,840
$678
$3,518
$3,000
$0
$0
$0
$0
$0
$3,000
$3,903
$0
$0
$0
$0
($600)
$3,303
$4,187
$0
$0
$0
$0
($1,381)
$2,807
$4,114
$0
$0
$0
$0
($1,914)
$2,200
$4,230
$0
$0
$0
$0
($2,423)
$1,807
$4,394
$0
$0
$0
$0
($3,033)
$1,361
$4,394
$9,250
$0
$0
$0
($3,903)
$9,741
$4,557
$9,250
$0
$0
$0
($6,037)
$7,770
$4,657
$9,250
$0
$0
$0
($7,814)
$6,094
$4,657
$9,250
$0
$0
$0
($9,780)
$4,128
Intangible Assets
Less Amortization
TOTAL INTANGIBLE ASSETS
$2,500
$0
$2,500
$2,500
$0
$2,500
$2,500
$0
$2,500
$2,500
$0
$2,500
$2,500
$0
$2,500
$2,500
$0
$2,500
$2,500
$0
$2,500
$2,500
$0
$2,500
$2,500
$0
$2,500
$2,500
$0
$2,500
$2,500
$0
$2,500
$2,500
$0
$2,500
$2,500
$0
$2,500
$2,500
$0
$2,500
$2,500
$0
$2,500
TOTAL ASSETS
$9,000
$15,148
$13,870
$14,915
$12,541
$12,028
$18,771
$15,625
$11,763
$9,631
$10,913
$10,234
$8,191
$8,105
$7,806
Current Portion of Long-Term Debt
Accounts Payable-Consigners
TOTAL CURRENT LIABILITIES
$1,325
$0
$1,325
$773
$1,848
$2,621
$2,007
$2,322
$4,329
$2,007
$4,490
$6,497
$2,007
$5,634
$7,641
$2,007
$6,965
$8,972
$790
$3,249
$4,039
$0
$4,258
$4,258
$0
$1,320
$1,320
$0
$1,514
$1,514
$0
$761
$761
$0
$1,739
$1,739
$0
$1,976
$1,976
$0
$2,755
$2,755
$0
$4,105
$4,105
Long-Term Debt
TOTAL LIABILITIES
$2,342
$3,667
$1,569
$4,190
$6,812
$11,141
$4,805
$11,302
$2,797
$10,438
$790
$9,762
$0
$4,039
$0
$4,258
$0
$1,320
$0
$1,514
$0
$761
$0
$1,739
$0
$1,976
$0
$2,755
$0
$4,105
Owner's Equity
$5,333
$10,958
$2,729
$3,613
$2,103
$2,266
$14,732
$11,367
$10,442
$8,118
$10,151
$8,495
$6,215
$5,349
$3,701
Current Assets:
Cash
Acounts Recievable
TOTAL CURRENT ASSETS
Fixed Assets:
Clothing Fixtures and Office Equipment
Vehicle
Computers and Printers
Furniture
Building Improvement
Less Accumulated Depreciation
TOTAL FIXED ASSETS
$4,832
$4,932
$4,932
$5,110
$5,145
$9,250
$9,250
$9,250
$9,250
$9,250
$1,400
$1,400
$1,400
$1,400
$1,400
$250
$250
$250
$250
$250
$0
$0
$0
$0
$0
($11,794) ($13,857) ($14,007) ($14,057) ($14,257)
$3,939
$1,975
$1,825
$1,953
$1,788
Other Assets:
Liabilities and Equity:
19
Neat Repeats – A Clothing Consignment Store
Cash Flow Statement
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
CASH ON HAND
REVENUES (CASH)
$3,500
$32,082
$8,920
$47,814
$8,036
$47,437
$9,572
$60,344
$7,385
$69,685
$7,348
$58,304
$5,645
$56,273
$4,630
$55,846
$2,714
$57,644
$2,369
$53,366
$3,924
$53,638
$5,024
$49,184
$3,341
$45,830
$2,952
$39,951
$2,840
$30,340
TOTAL CASH
$35,582
$56,734
$55,473
$69,915
$77,069
$65,653
$61,918
$60,476
$60,358
$55,734
$57,562
$54,207
$49,171
$42,902
$33,180
TOTAL FIXED EXPENSES
TOTAL VARIABLE EXPENSES
FEDERAL TAXES PAID
$13,309
$16,854
$0
$21,669
$27,249
$4,636
$24,027
$27,131
$4,671
$28,238
$30,319
$2,167
$28,904
$34,900
$4,691
$26,855
$33,171
$4,705
$26,613
$34,009
$2,565
$25,537
$34,373
$834
$25,249
$33,482
$1,981
$21,694
$30,803
$1,679
$24,832
$29,974
$1,656
$25,786
$28,634
$1,663
$22,571
$25,949
$1,040
$20,588
$21,658
$767
$14,724
$19,139
$137
TOTAL OUTFLOW
$30,162
$53,555
$55,829
$60,724
$68,494
$64,732
$63,187
$60,744
$60,712
$54,175
$56,461
$56,083
$49,560
$43,012
$34,000
CASH FLOW
$5,420
$3,179
-$356
$9,191
$8,575
$921
-$1,269
-$268
-$354
$1,559
$1,101
-$1,875
-$389
-$110
-$820
CASH ENDING
$8,920
$8,036
$9,572
$7,385
$7,348
$5,645
$4,630
$2,714
$2,369
$3,924
$5,024
$3,341
$2,952
$2,840
$2,022
20
Neat Repeats – A Clothing Consignment Store: Appendix 9.1 Profit/Loss, Schedule C
21
Neat Repeats – A Clothing Consignment Store: Appendix 9.1 Profit/Loss, Schedule C
22
Neat Repeats – A Clothing Consignment Store: Appendix 9.2 Consignor Data & Analysis
Consignor Study: Grand Totals of Study
Avg. Rating of Service Items
Sex
No.
Avg.
Age Children Custom
Low
Item
Qua
Custom
Low
Item
Current
Qua
Layout
Avg.
Female
77
6.4
44.9
2.10
62
64
40
54
2.46
1.89
2.96
3.10
2.15
4.84
4.62
Male
4
2.3
40.2
2.25
1
2
0
3
4.67
2.25
2.67
4.33
2.00
4.33
5.00
Over Age 40
Avg. Rating of Service Items
Sex
No.
Female
Male
Custom
Low
Item
Current
44
Avg. Age Children Custom Low
7.9
54.3
2.16
36
38
Item
23
Qua
35
2.29
1.83
2.58
3.11
1.99
Qua
Layout
4.75
Avg.
4.66
2
1.0
51.5
2.00
0
1
0
2
5.00
1.00
3.00
4.00
2.00
6.00
5.00
Under Age 40
Avg. Rating of Service Items
Sex
No.
Avg.
Age
Children Custom
Low
Item
Qua
Custom
Low
Item
Current
Qua
Layout Avg.
female
33
4.3
32.4
2.03
26
26
17
19
2.67
1.97
3.42
3.08
2.35
4.93
4.56
male
2
3.5
29
2.50
1
1
0
1
4.00
3.50
2.00
5.00
2.00
1.00
5.00
23
Neat Repeats – A Clothing Consignment Store: Appendix 9.3 –Salvation Army Appraisals
Women's Items
Low
High
Bathing Suits
$4.00
$12.00
Bathrobes
$2.50
$12.00
Blouse
$2.50
$12.00
Boots
$2.00
$5.00
Bras
$1.00
$3.00
Coats
$10.00
$40.00
Dresses
$4.00
$19.00
$60.00
Evening Dresses
$10.00
Foundation Garments
$3.00
$8.00
Fur Coats
$25.00
$400.00
Fur Hats
$7.00
$15.00
Handbags
$2.00
$20.00
Hats
$1.00
$8.00
Jackets
$4.00
$12.00
Nightgowns
$4.00
$12.00
Pants Suits
$6.50
$25.00
Shoes
$2.00
$25.00
Skirts
$3.00
$8.00
Slacks
$3.50
$12.00
$6.00
Slips
$1.00
Socks
$0.40
$1.25
Suits
$6.00
$25.00
Sweaters
$3.75
$15.00
Men's Items
Low
High
Jackets
$7.50
$25.00
Over Coats
$15.00
$60.00
Pajamas
$2.00
$8.00
Pants-shorts
$3.50
$10.00
Raincoat
$5.00
$20.00
$12.00
Shirts
$2.50
Shoes
$3.50
$25.00
Slacks
$5.00
$12.00
Suits
$15.00
$60.00
$12.00
Sweaters
$2.50
Swim Trunks
$2.50
$8.00
Tuxedo
$10.00
$60.00
Under-shirts
$1.00
$3.00
Under-shorts
$1.00
$3.00
24
Neat Repeats – A Clothing Consignment Store: Appendix 9.3 –Salvation Army Appraisals
Children's Items
Low
High
Bicycles
$15.00
$65.00
Blouses
$2.00
$8.00
Boots
$3.00
$20.00
Coats
$4.50
$20.00
Dresses
$3.50
$12.00
Jackets
$3.00
$25.0
Jeans
$3.50
$12.00
Pants
$2.50
$12.00
Shirts
$2.00
$6.00
Shoes
$2.50
$8.75
Skirts
$1.50
$6.00
Slacks
$2.00
$8.00
Snowsuits
$4.00
$19.00
Socks
$0.50
$1.50
Sweaters
$2.50
$8.00
Underwear
$1.00
$3.50
25
Neat Repeats – A Clothing Consignment Store: Appendix 9.4. Graph of Important Financial Information
$115,000
$101,760
Total Sales
$98,050
Gross Profit
$93,280
Total Operating Expenses
$100,000
$78,440
$85,000
$70,000
$49,025
$46,640
$55,000
$39,220
$41,318
$40,506
$38,801
$36,906
$50,880
$40,000
$25,000
$10,000
2005
2006
2007
26
2008
Neat Repeats – A Clothing Consignment Store: Appendix 9.5. Marketing Survey by Neat Repeats
Name (optional) ___________________________ Sex: Male or Female
Where do you Reside?_______________________ Age: _______ Children _____
1. When shopping or browsing Neat Repeats, what do you like the most?
Customer Service_____
Layout of facility/parking ______
Low Prices ________
Item Variety_____
Quality of Goods______
Current Styles______
2. If you could rank those preceding categories in terms of most important to yourself or
your family, what order would you put them in? (1 = Most Important to 6 = Least
Concern) Low Prices _____ Customer Service_____ Layout of facility/parking______
Item Variety _____ Quality of Goods_____ Current Styles________
3. If Neat Repeats kept all Summer, Spring, Fall and Winter items on sale year round,
would you specifically buy off-season items at reduced prices? YES____ NO_____
4. How does Neat Repeats rate compared to other consignment shops you have visited over
the years? BETTER THAN MOST _______SLIGHTLY BETTER ________
ON PAR WITH OTHERS _______ SLIGHTLY WORSE THAN _________
WELL BELOW OTHERS _______
5. What would you change at Neat Repeats to improve your shopping experience?
__________________________________________________________________________
__________________________________________________________________________
27
Neat Repeats – A Clothing Consignment Store: Appendix 9.6. Seasonal Sales Information
By Season
Dec -Feb
March- May
June- August
Sept-Nov
Best Season
Worst Season
1989
$4,212
$3,354
$10,752
$15,581
Fall
Winter
1990
$10,983
$14,528
$11,540
$15,490
Fall
Winter
1991
$10,031
$16,169
$11,199
$14,979
Spring
Winter
1992
$11,776
$16,105
$18,342
$21,656
Fall
Winter
1993
$16,672
$21,424
$16,416
$24,448
Fall
Summer
1994
$12,762
$19,800
$17,437
$19,751
Spring
Winter
1995
$16,148
$16,323
$15,604
$19,865
Fall
Summer
By Season
Dec -Feb
March- May
June- August
Sept-Nov
Best Season
Worst Season
1997
$14,310
$19,585
$18,059
$19,438
Spring
Winter
1998
$12,912
$17,498
$15,248
$20,979
Fall
Winter
1999
$13,142
$18,093
$15,279
$19,994
Fall
Winter
2000
$11,728
$17,029
$14,331
$19,095
Fall
Winter
2001
$11,464
$16,018
$12,171
$18,422
Fall
Winter
2002
$9,538
$15,808
$11,298
$15,987
Fall
Winter
2003
$7,769
$12,995
$8,643
$12,425
Spring
Winter
Season
Winter
Spring
Summer
Fall
Month (High)
Month (Low)
Avg. Month
St Dev. Month
Best
Worst
13
4
2
11
$9,031
$2,069
$5,183
$1,359
TOTAL
$912,263
28
1996
$16,189
$16,915
$16,558
$19,998
Fall
Winter
Avg.
Season
$12,530
$17,021
$14,438
$18,752
Neat Repeats – A Clothing Consignment Store: Appendix 9.7. Donna Powers’ Resume
Donna M. Powers
Home Address: 505 Indiana Avenue
Lowell, Indiana 46356
Phone Number: (219) 696-6275
Employment History
1989 – Present
Neat Repeats – Lowell, IN
Owner
Through ownership of a consignment shop, I have assisted thousands of customers in
finding affordable clothing and provided a means for consigners to generate income and
give back to those in greater need in the local communities through their submittals.
Since 1989, Neat Repeats has generated sales of $913,000 on items typically price at 10%
to 30% of actual retail price of large retail stores while still maintaining high quality
clothing standards, staying current on fashion styles and providing friendly services.
I have maintained nearly 5,000 consigners files. Each consigner receives 50% of the
gross sales of items inventoried and sold and these sales are recorded for income and
taxation purposes.
Neat Repeats has donated all unsold articles to various charities for the underprivileged.
As owner, I have performed inventory, engaged in customer sales, created marketing
promos, done accounting, maintained facility upkeep, negotiated business contracts and
sought and obtained approval for bank loans.
1983 – 1989
Neat Repeats – Lowell, IN
Sales Associate
Assessed value of consigned items and stocked in appropriate departments.
Processed customer sales and paid out consigners for their items sold.
Maintained bookkeeping functions for owner as needed.
1979 – 1983
Hammer’s Department Store – Winchester, TN
Customer Sales
Assisted customers in finding items in a multiple department clothing and general
merchandise store.
Operated Cash registers, back stocked returned items, tallied daily sales and maintained
appearance of store items at a multi-million dollar retail chain store.
1974 – 1976
Genesco Company- Winchester, TN
Boot Binder
Shoe binder for ladies boots and fancy stitched shoes
Received certification in craft
1970 – 1972
United States Marine Corps – Quantico, VA
Lance Corporal
Trained as sales clerk
Promoted as assistant manager of Air Station Exchange in Quantico, VA
Honorable Discharge
29
Neat Repeats – A Clothing Consignment Store: Appendix 9.7. Donna Powers’ Resume
Education
1987 – 1989
Commonwealth Business College Merrillville, IN
Accounting and Business Management Associate Degree Program
GPA – 3.03 in 82 quarter hours (16 credits short of Associates)
1986
Purdue Calumet
Principles in Accounting
Adult Education
1976 – 1978
Motlow State College
Tullahoma, TN
Accounting and Computer Technology
Business Courses
Complete 60 quarter hours with a GPA of 3.1
1966 – 1970
Lowell High School
High School Diploma
Hammond, IN
Lowell, IN
Computer and Related Business Skills
Operate various IBM-compatible computers, software such as MS Word, Excel and use
of various printers (Lexus, Compaq, IBM, HP)
10- key punch operation and cash registers
Ledger management, bookkeeping, balance sheet and tax preparations for business
Extracurricular activities
•
•
•
•
•
Coached girl’s CYO League in Basketball and Volleyball for 2 years
Literacy Tutor for 5 years at the Lowell Public Library
Worked various second jobs at Lowell Library and Zuni’s Restaurant for 8 years
Participated and coached in women’s slow pitch league in Lowell, IN
Coached and played fast pitch women’s softball on Marine Corps traveling team in 1971
Hobbies and Interests
•
•
Reading fashion and style magazines for latest trends
Watching various sporting events and music concerts
30
Neat Repeats – A Clothing Consignment Store: Appendix 9.8. Consignment Contract for Consignors
Second Hand Chic for the Resale Connoisseur
222 E. Commercial Ave., Lowell, Indiana 46356
Received From __________________________________________________________
Address
______________________________________ZIP__________________
Telephone
____________________________
Consignment Date ________________________ Goes On Sale _________________
Reclamation period ___________________ to _________________(will hold one week only)
I have read and hereby agree to by bound by this contract and the agreement printed
below.
Signature _____________________________________________________________
AGREEMENT
1. Acceptance and pricing of all articles shall be at the discretion of Neat Repeats, whose
decisions are final. Defects found during marking will alter price at the discretion of Neat
Repeats.
2. The articles will be at consignor’s risk while in the custody and care of Neat Repeats and
Neat Repeats shall not be held responsible for loss, damage or depreciation of the articles.
3. The consignor’s commission will be 50% of the sale, less the cost of cleaning and/or
repairing it, if needed. A $.50 charge will be made for mailing checks.
4. Consignment (with the exclusion of long and wedding dresses) will be kept for 3 months. If
not sold, articles will be lowered to ½ price for a month. After which, if not reclaimed, by
consignor, will be given to a local charitable organization.
5. No further notices will be given consignor of expiration or reclamation and consignor
specially waves such notice.
6. If you wish to have your clothes return at the end of the 3 month period, a card to Neat
Repeats will facilitate the collection of the items not sold.
7. Best times to bring consignments for sales:
• Fall and Winter : August 1st to January 15th • Summer: April 15th to July 1st
• Spring : January 15th to April 15th
All Winter Clothes go on sale February 1st. All Summer clothes go on sale July 15th .
31
Neat Repeats – A Clothing Consignment Store: Appendix 9.9. Facility Layout
EXIT
UP
Appendix 9.9 : FACILITY
LAYOUT (CURRENT)
Coats and Jackets
Women's Slacks
19'
Seasonal
Items
Neat Repeats
Consignment
Shop
Juniors
60'
1191 sq ft
Women's Tops
and Dresses
Men's Shirts and Pants
Men's
Suits
Misc.
Items
Baby
Cothes
Entry
32
Neat Repeats – A Clothing Consignment Store: Appendix 9.9. Facility Layout
EXIT
UP
Appendix 9.9 : FACILITY
LAYOUT (CURRENT)
Basement
Level
Furnace
1140 sq ft
Off Season
Storage Racks
Storage
33
Storage