The business that I have decided to come up with is Gemba thrift store which deals with interesting staffs of all kind. Basically, the store deals with antique entities, used toys, used furniture and used appliances that are believed to be of benefit to the community and the market as a whole. My potential competitors are Japanese Kimono vintage shop and Rosevile Vintage shop. In order to deal with my competitors, I plan to use the leadership style of democracy in order to get more clients (Hills, Hultman & Miles, 2008). This will be a desirable approach as contributions will be made from both sides hence I will be able to come up with the client’s desire in the market.
In order to attain positive results in the market and attract more clients, I will introduce commodities that other competitors don’t sell. In essence, I plan to sell things like skirts of 1950s with polka dot godets, 1940s charcoal gray pumps, 1960s black peau de soile stilettos, 1940s open crown wool felt hat and include vintage silver filigree flower blue rhinestone earrings. This also include things like tables, chairs, second hand dolls for children and second hand fridges, microwaves and television sets. The mentioned staffs will be of positive impact on business as I will be able to attract more clients based on the fact that I will be selling different antiques (Davidsson, 2005).
In order to reach out to my potential clients effectively I intent to reach out to women who are between the ages of 20 and 35 year of age. It is an essential approach as they are the current clients who desire to wear such commodities in order to look back at where they are coming from. I will also enlighten my clients on the importance of appreciating their culture and preserving as it shows their appreciation on their history and future. Additionally, the shop will be located near the town/city center with the intention of attracting more clients (Morgan & J. Darroch, 2006). This is so as most ladies like going to town with the intention of going to do their shopping.
Inclusion of a web site in order to reach out to more clients is an essential approach as it will ensure that customers are able to purchase online. It is an approach that other competitors lack, and hence I believe I will reach my set target in the market (Bygrave, 2004). This is the case as the world is modernizing and I believe using the media will enable me counter my competitors effectively.
Thus, my approach of starting up an antique and second hand shop is essential based on its age, beauty, condition and personal emotional connection. This is so as it tends to represents a previous era among the society. The price of the product will reflect both the original purchase price as well as the trouble the client has gone through. Additionally, an antique and second hand shop is significant as it gives clients a better chance of finding complete sets of items (Morgan & J. Darroch, 2006). In essence, the way I have placed my business, it will be a positive entity as I will be able to counter my competitors effectively and I will be in the right targeted market. As a result of using the approach of democratic leadership type of style, there will be a positive outcome as both parties in the market will contribute, hence enable me choose from the best. Basing on this concept, I am sure that I will be among the best antique sellers in the market as I have targeted the right clients and with the correct strategies that will lead to success (Shane & S Venkataraman, 2000).
Davidsson, P (2005) The Types and Contextual Fit of Entrepreneurial Processes. International Journal of Entrepreneurship Education, 2(4), 407-429. Retrieved December 3, 2010, using the Proquest database from Entrepreneurship. (Document ID: 1651845401).
Bygrave, W D. (2004) Chapter 1 The entrepreneurial process in The Portable MBA in Entrepreneurship, edited by W. D. Bygrave and A. Zacharakis. Viewed at http://media.wiley.com/product_data/excerpt/43/04712715/0471271543.pdf December 3 2010
Shane S., & S Venkataraman. (2000). The promise of entrepreneurship as a field of research. Academy of Management. The Academy of Management Review, 25(1), 217-226. Retrieved December 3, 2010, from ABI/INFORM Global. (Document ID: 48157168).
Hills, G., Hultman, C., & Miles, M. (2008). The Evolution and Development of Entrepreneurial Marketing. Journal of Small Business Management, 46(1), 99-112. Retrieved December 3, 2010, from ABI/INFORM Global. (Document ID: 1427433451).
Morgan P. M. & J. Darroch. (2006). Large firms, entrepreneurial marketing processes, and the cycle of competitive advantage. European Journal of Marketing, 40(5/6), 485-501. Retrieved December 3, 2010, from ABI/INFORM Global. (Document ID: 1131526491).