Neat Repeats Consignment Shop Business Plan

Neat Repeats Consignment Shop

Business Plan

Owner: Donna Powers

Original: June 30, 2004

Updated: July 1, 2008

Table of Contents

Page

1.0 Executive Summary 2-3

2.0 Business History, Description, Products and Services 3-5

3.0 Market Description and Analysis 5-9

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

4.0 Competition 9-10

5.0 Management Summary 10-12

5.1 Personnel

5.2 Business Philosophy

6.0 Application of /and Expected Effect of Investment 12-14

7.0 Financial Analysis 14-19

7.1 Important Assumptions 14

7.2 Capital Equipment List 14

7.3 Balance Sheet 15

7.4 Break-Even Analysis 16

7.5 Projected Income Statement 17

7.6 Cash Flow Projections 18

8.0 Historical Financial Reports (1989-2003) 18-20

9.0 Appendices

9.1 Profit/Loss – Schedule C (2000 & 2002) 21-22

9.2 Consignor Data and Analysis 23

9.3 Salvation Army Valuation of Clothing for IRS Deductions 24-25

9.4 Graph of Important Financial Information 26

9.5 Marketing Survey by Neat Repeats 27

9.6 Seasonal Sales Information 28

9.7 Donna Power’s Resume 29-30

9.8 Consignment Contract for Consignors 31

9.9 Facility Layout (Current) 32-33

Neat Repeats – A Clothing Consignment Store

2

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.

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)

Sales vs. Gross Profit vs. Operating Expenses

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

Year

Total Sales Gross Profit Total Operating Expenses

Total Sales $78,440 $93,280 $98,050 $101,760

Gross Profit $39,612 $47,106 $49,515 $51,389

Total Operating Expenses $36,906 $38,801 $40,506 $41,318

2005 2006 2007 2008


3

The reinvention and investment in Neat Repeats will allow for continued servicing of low-

income 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.


4

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 750-

1,000 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

1989 1990 1991 1992 1993 1994 1995 1996

January $3,265 $2,668 $3,303 $5,338 $3,556 $5,323 $5,255 February $3,295 $3,768 $3,224 $4,874 $3,884 $4,661 $4,292 March $5,238 $5,371 $4,006 $7,425 $6,936 $4,012 $4,966

April $5,110 $5,715 $5,937 $7,183 $6,768 $6,127 $5,488 May $3,354 $4,181 $5,083 $6,162 $6,816 $6,096 $6,184 $6,462 June $3,412 $3,392 $2,635 $5,850 $6,155 $6,214 $6,320 $6,662 July $3,189 $3,824 $4,433 $6,638 $5,159 $5,680 $4,580 $5,495 August $4,151 $4,325 $4,131 $5,854 $5,102 $5,542 $4,703 $4,401 September $6,211 $4,537 $4,294 $6,666 $8,030 $5,773 $5,292 $5,520 October $4,365 $5,390 $3,309 $7,989 $9,031 $7,448 $7,048 $6,735 November $5,005 $5,563 $7,376 $7,000 $7,387 $6,531 $7,525 $7,742 December $4,212 $4,423 $3,594 $5,249 $6,460 $5,323 $6,165 $6,642 Totals $33,898 $52,541 $52,377 $67,879 $78,960 $69,750 $67,940 $69,661

Sales by Month

1997 1998 1999 2000 2001 2002 2003 Avg. Month

January $4,655 $4,065 $4,114 $3,863 $3,159 $3,300 $2,791 $3,904 February $4,397 $4,536 $4,521 $3,590 $4,126 $2,854 $2,069 $3,864 March $5,315 $4,892 $7,090 $5,333 $6,296 $5,896 $3,920 $5,478 April $6,682 $6,529 $5,525 $6,434 $4,931 $4,985 $4,262 $5,834 May $7,588 $6,077 $5,478 $5,261 $4,790 $4,927 $4,812 $5,551 June $7,364 $4,790 $5,764 $4,808 $4,255 $3,689 $3,325 $4,976 July $5,438 $4,975 $4,262 $4,947 $3,393 $3,592 $2,261 $4,524 August $5,258 $5,483 $5,253 $4,575 $4,523 $4,017 $3,056 $4,692

September $5,317 $6,591 $6,567 $6,710 $6,546 $5,004 $4,033 $5,806 October $7,482 $7,826 $8,104 $6,386 $6,337 $5,759 $4,414 $6,508 November $6,639 $6,562 $5,323 $5,999 $5,539 $5,225 $3,978 $6,226 December $5,258 $4,311 $4,507 $4,275 $4,180 $3,384 $2,910 $4,726 Totals $71,392 $66,637 $66,508 $62,182 $58,076 $52,631 $41,832 $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


5

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.


6

� 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.


7

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


8

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 Question #1

Sex Count Age Children Customer Service Low Price Item Var. Quality

Females 58 46.4 2.05 48 48 32 40 Males 4 40.3 2.25 1 2 0 3

Question #2

Sex Count Customer Service Low Item Current Quality Layout

Females 58 2.44 1.82 2.84 3.18 2.06 4.76 Males 4 4.67 2.25 2.67 4.33 2 4.33

Question #3 Question #4

Sex Count Yes No Rating Females 58 52 5 4.65 Males 4 4 0 5

3.5 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


9

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

� 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

4.0 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


10

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.


11

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


12

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

4.0

6.5 6.5 6.5 6.5

8.0

0.0

7.0

8.5 8.5 8.5

9.0

10.0

0.00.0

2.0

4.0

6.0

8.0

10.0

12.0

Monday Tuesday Wednesday Thursday Friday Saturday Sunday

Days of the Week

Ho

urs

per

Day

Current Proposed

� 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)


13

� 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 Amount % of Investment

Computers and Monitors $1,000 13.3%

Software $800 10.7%

Printer(s) $200 2.7%

Remodeling $2,500 33.3%

Clothing Fixtures $1,000 13.3%

Cash Reserves $2,000 26.7%

Total Investment $7,500 100%

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.


14

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

All Utilities per Year $2000 $2250 $2300 $2325

Interest Expense % 12% 12% 12% 12%

Federal Tax % 35% 35% 35% 35%

Sales tax % 6% 6% 6% 6%

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.


15

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


16

7.4 Break - Even Analysis

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.

Break Even Analysis of Sales Monthly to Cover Costs and Consignment Payouts

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$7,000

Year

Monthly Fixed Costs Break Even

Monthly Fixed Costs $2,659 $2,739 $2,853 $2,914

Break Even $5,319 $5,478 $5,705 $5,827

2005 2006 2007 2008


17

7.5 Projected Income Statement

Pro Forma Profit/ Loss Projection 2005 2006 2007 2008 Total Sales $78,440 $93,280 $98,050 $101,760 COGS $39,220 $46,640 $49,025 $50,880 Gross Profit $39,220 $46,640 $49,025 $50,880 Gross Margin % 50.0% 50.0% 50.0% 50.0%

TOTAL EXPENSES Rent $5,400 $5,520 $5,640 $5,760 Owner's Salary $16,500 $17,000 $17,500 $18,000 Employees' Payroll $5,500 $5,500 $6,000 $6,000 Utilities $2,000 $2,250 $2,300 $2,325 Advertising $200 $200 $250 $250 Internet Fees $150 $150 $175 $200 Bank Fees $700 $800 $850 $850 Business Insurance $260 $270 $280 $285 Maintenance $300 $300 $325 $150 Garbage Disposal $400 $450 $450 $475 Sales Tax $4,440 $5,280 $5,550 $5,760 Office Supplies $300 $325 $400 $430 Bags $145 $145 $175 $185 Postage $111 $111 $111 $148 Advanced Fixtures $250 $250 $250 $250 Bad Debts/Theft $250 $250 $250 $250 Misc Expense $150 $150 $150 $150 Total Operating Expenses $36,906 $38,801 $40,506 $41,318

Income before taxes $2,314 $7,839 $8,519 $9,562

Self-Employment Tax $256 $869 $944 $1,060 Employee Withholdings $688 $688 $750 $750 Interest Expense $300 $300 $300 $0 Earnings b/ Federal Taxes $1,070 $5,983 $6,525 $7,752 Federal Taxes (35%) $375 $2,094 $2,284 $2,713 Retained Earnings $696 $3,889 $4,241 $5,039 Net Profit/Sales 0.89% 4.17% 4.33% 4.95%


18

7.6 Cash Flow Projections

Cash Flow Pro Forma 2005 2006 2007 2008 Cash Received From Operations $78,440 $93,280 $98,050 $101,760 From Receivables $0 $0 $0 $0 Subtotals from Operations $78,440 $93,280 $98,050 $101,760

Additional Cash Received 2005 2006 2007 2008 Sale Tax (included in operations9) $0 $0 $0 $0 New Current Borrowing $0 $0 $0 $0 New Other Liabilities $7,500 $0 $0 $0 Sales of Short term Assets $0 $0 $0 $0 New Investment Received $0 $0 $0 $0 Subtotal Cash Received $7,500 $0 $0 $0

Expenditures from Operations 2005 2006 2007 2008 Cash Spent on Costs and Expenses $49,836 $57,811 $60,631 $62,588 Wages, Salaries, Payroll taxes $22,944 $24,056 $25,194 $25,810 Payment of Accounts Payable $0 $0 $0 $0

Subtotal Spent on Operations $72,780 $81,867 $85,825 $88,398

Additional Cash Spent 2005 2006 2007 2008 Sales Tax $4,440 $5,280 $5,550 $5,760 Federal Taxes on Business $375 $2,094 $2,284 $2,713 Purchase of Short-term Assets $3,000 $0 $0 $0 Purchase of Long-term Assets $2,500 $0 $0 $0 Other Liabilities Principal Repayment

$0 $2,800 $2,800 $2,800

Subtotal Cash Spent (Other) $10,315 $10,174 $10,634 $11,273

Initial Cash Balance (01/01/Year) $4,500 $7,346 $8,584 $10,176

Net Cash Flow $2,846 $1,239 $1,591 $2,089 Cash Balance $7,346 $8,584 $10,176 $12,265


18

Profit Loss Statement 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

Total Sales $33,898 $52,541 $52,377 $67,879 $78,960 $69,750 $67,940 $69,661 $71,392 $66,637 $66,508 $62,182 $58,076 $52,316 $41,832

Materials and Supplies(COGS) $178 $1,310 $1,043 $824 $1,170 $979 $1,023 $616 $773

Credits and Allowances $1,816 $4,727 $4,940 $7,535 $9,275 $11,446 $11,667 $13,815 $13,748 $13,271 $12,870 $12,998 $12,246 $12,366 $11,492

Reduction of Profit by Credit Sales $1,816 $4,727 $4,940 $7,535 $9,275 $5,723 $5,834 $6,907 $6,874 $6,635 $6,435 $6,499 $6,123 $6,183 $5,746

Gross Profit $32,082 $47,814 $47,259 $59,034 $68,642 $63,203 $60,937 $61,774 $63,495 $60,001 $60,073 $55,683 $51,953 $45,517 $35,313

Fixed Expenses

Rent $700 $1,700 $3,050 $4,275 $4,575 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,900 $5,100

Garbage Disposal $342 $90 $514 $442 $475 $309 $336 $372

Business Insurance $150 $150 $150 $150 $156 $181 $175 $184 $175 $187 $180 $227 $250

Owner's Salary $10,050 $15,665 $16,090 $17,430 $16,625 $13,540 $13,840 $15,220 $14,210 $11,589 $14,280 $15,085 $12,525 $10,745 $6,763

Additional Salaried Expense $1,700 $1,750 $2,000 $2,000 $2,500 $2,500 $2,500 $1,400 $3,100 $2,250 $4,365 $3,075 $2,225 $2,025

Bank Fees and Charges $103 $512 $433 $329 $160 $13 $726 $561 $706 $635 $653 $561

Utilities (Electric and Water) $277 $431 $1,514 $1,867 $1,661 $1,970 $1,728 $1,687 $1,753 $279 $1,688 $1,863 $1,799 $1,757

Advertising $35 $134 $38 $150 $84 $40 $140 $40 $45 $95 $55 $225

Maintenance $25 $140 $86 $60 $522 $57 $62 $68

Legal and Professional Fees $25 $365 $697 $500 $734 $607

Bad Debts $185 $261 $114 $279 $200 $200 $250 $150 $200 $200 $247 $184

Loan Expense $774 $1,326 $1,904 $2,007 $1,960 $1,936 $1,936 $645

TOTAL FIXED EXPENSES $13,309 $21,669 $24,027 $28,238 $28,904 $26,855 $26,613 $25,537 $25,249 $21,694 $24,832 $25,786 $22,571 $20,588 $14,724

Variable Expenses

Consigner Payable $14,193 $23,433 $21,551 $26,334 $30,694 $29,386 $30,376 $30,861 $29,949 $27,435 $25,842 $24,354 $22,136 $18,625 $16,668

Sales Tax $1,674 $2,601 $2,593 $3,345 $3,946 $3,503 $3,363 $3,448 $3,533 $3,335 $3,270 $3,095 $2,859 $2,645 $2,471

Office Supplies $266 $696 $663 $320 $349 $491 $241

Advanced Fixtures $365 $100 $353 $330 $259

Bags and Containers $33 $28 $72 $164 $189 $191 $153 $142

Postage $125 $200 $89 $87 $41 $58 $65 $64 $32 $5

Donations $75 $205 $40 $553 $91 $20

Dry Cleaning $33 $16 $15 $30

Misc. Expense $89 $71 $2,124 $127 $46 $106 $315

TOTAL VARIABLE EXPENSES $16,854 $27,249 $27,131 $30,319 $34,900 $33,171 $34,009 $34,373 $33,482 $30,803 $29,974 $28,634 $25,949 $21,658 $19,139

Total Expenses $30,162 $48,919 $51,158 $58,557 $63,803 $60,027 $60,622 $59,910 $58,731 $52,496 $54,805 $54,420 $48,520 $42,245 $33,863

Income before Taxes $1,920 -$1,104 -$3,899 $476 $4,838 $3,177 $314 $1,864 $4,764 $7,505 $5,268 $1,263 $3,433 $3,272 $1,450

TAX EXPENSE(QUARTERLY) $2,415 $2,782 $2,400 $2,600 $1,250 $1,100 $350 $0 $0 $0 $0 $0 $0 $0

FEDERAL INCOME TAX(Personal) $2,221 $1,889 -$233 $2,091 $3,455 $1,465 $484 $1,981 $1,679 $1,656 $1,663 $1,040 $767 $137

TOTAL TAXES $4,636 $4,671 $2,167 $4,691 $4,705 $2,565 $834 $1,981 $1,679 $1,656 $1,663 $1,040 $767 $137

Retained Earnings $1,920 -$5,740 -$8,570 -$1,691 $147 -$1,528 -$2,251 $1,030 $2,783 $5,826 $3,612 -$400 $2,393 $2,505 $1,313


19

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

Current Assets:

Cash $3,500 $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

Acounts Recievable $0 $425 $528 $643 $850 $819 $885 $725 $455 $635 $550 $735 $525 $700 $678

TOTAL CURRENT ASSETS $3,500 $9,345 $8,564 $10,215 $8,235 $8,167 $6,530 $5,355 $3,169 $3,004 $4,474 $5,759 $3,866 $3,652 $3,518

Fixed Assets:

Clothing Fixtures and Office Equipment $3,000 $3,903 $4,187 $4,114 $4,230 $4,394 $4,394 $4,557 $4,657 $4,657 $4,832 $4,932 $4,932 $5,110 $5,145

Vehicle $0 $0 $0 $0 $0 $0 $9,250 $9,250 $9,250 $9,250 $9,250 $9,250 $9,250 $9,250 $9,250

Computers and Printers $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,400 $1,400 $1,400 $1,400 $1,400

Furniture $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $250 $250 $250 $250 $250

Building Improvement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Less Accumulated Depreciation $0 ($600) ($1,381) ($1,914) ($2,423) ($3,033) ($3,903) ($6,037) ($7,814) ($9,780) ($11,794) ($13,857) ($14,007) ($14,057) ($14,257)

TOTAL FIXED ASSETS $3,000 $3,303 $2,807 $2,200 $1,807 $1,361 $9,741 $7,770 $6,094 $4,128 $3,939 $1,975 $1,825 $1,953 $1,788

Other Assets:

Intangible Assets $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500

Less Amortization $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

TOTAL INTANGIBLE ASSETS $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $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

Liabilities and Equity:

Current Portion of Long-Term Debt $1,325 $773 $2,007 $2,007 $2,007 $2,007 $790 $0 $0 $0 $0 $0 $0 $0 $0

Accounts Payable-Consigners $0 $1,848 $2,322 $4,490 $5,634 $6,965 $3,249 $4,258 $1,320 $1,514 $761 $1,739 $1,976 $2,755 $4,105

TOTAL CURRENT LIABILITIES $1,325 $2,621 $4,329 $6,497 $7,641 $8,972 $4,039 $4,258 $1,320 $1,514 $761 $1,739 $1,976 $2,755 $4,105

Long-Term Debt $2,342 $1,569 $6,812 $4,805 $2,797 $790 $0 $0 $0 $0 $0 $0 $0 $0 $0

TOTAL LIABILITIES $3,667 $4,190 $11,141 $11,302 $10,438 $9,762 $4,039 $4,258 $1,320 $1,514 $761 $1,739 $1,976 $2,755 $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


20

Cash Flow Statement 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

CASH ON HAND $3,500 $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

REVENUES (CASH) $32,082 $47,814 $47,437 $60,344 $69,685 $58,304 $56,273 $55,846 $57,644 $53,366 $53,638 $49,184 $45,830 $39,951 $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 $13,309 $21,669 $24,027 $28,238 $28,904 $26,855 $26,613 $25,537 $25,249 $21,694 $24,832 $25,786 $22,571 $20,588 $14,724

TOTAL VARIABLE EXPENSES $16,854 $27,249 $27,131 $30,319 $34,900 $33,171 $34,009 $34,373 $33,482 $30,803 $29,974 $28,634 $25,949 $21,658 $19,139

FEDERAL TAXES PAID $0 $4,636 $4,671 $2,167 $4,691 $4,705 $2,565 $834 $1,981 $1,679 $1,656 $1,663 $1,040 $767 $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

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

23

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. Avg. Age Children Custom Low Item Qua Custom Low Item Current Qua Layout Avg. Female 44 7.9 54.3 2.16 36 38 23 35 2.29 1.83 2.58 3.11 1.99 4.75 4.66

Male 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

Neat Repeats – A Clothing Consignment Store: Appendix 9.3 –Salvation Army Appraisals

24

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

Evening Dresses $10.00 $60.00

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

Slips $1.00 $6.00

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

Shirts $2.50 $12.00

Shoes $3.50 $25.00

Slacks $5.00 $12.00

Suits $15.00 $60.00

Sweaters $2.50 $12.00

Swim Trunks $2.50 $8.00

Tuxedo $10.00 $60.00

Under-shirts $1.00 $3.00

Under-shorts $1.00 $3.00

Neat Repeats – A Clothing Consignment Store: Appendix 9.3 –Salvation Army Appraisals

25

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

Neat Repeats – A Clothing Consignment Store: Appendix 9.4. Graph of Important Financial Information

26

$78,440

$39,220$36,906

$93,280

$46,640

$38,801

$98,050

$49,025

$40,506

$101,760

$50,880

$41,318

$10,000

$25,000

$40,000

$55,000

$70,000

$85,000

$100,000

$115,000

2005 2006 2007 2008

Total Sales

Gross Profit

Total Operating Expenses

Neat Repeats – A Clothing Consignment Store: Appendix 9.5. Marketing Survey by Neat Repeats

27

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?

__________________________________________________________________________

__________________________________________________________________________

Neat Repeats – A Clothing Consignment Store: Appendix 9.6. Seasonal Sales Information

28

By Season 1989 1990 1991 1992 1993 1994 1995 1996

Dec -Feb $4,212 $10,983 $10,031 $11,776 $16,672 $12,762 $16,148 $16,189

March- May $3,354 $14,528 $16,169 $16,105 $21,424 $19,800 $16,323 $16,915

June- August $10,752 $11,540 $11,199 $18,342 $16,416 $17,437 $15,604 $16,558

Sept-Nov $15,581 $15,490 $14,979 $21,656 $24,448 $19,751 $19,865 $19,998

Best Season Fall Fall Spring Fall Fall Spring Fall Fall

Worst Season Winter Winter Winter Winter Summer Winter Summer Winter

By Season 1997 1998 1999 2000 2001 2002 2003 Avg.

Season

Dec -Feb $14,310 $12,912 $13,142 $11,728 $11,464 $9,538 $7,769 $12,530

March- May $19,585 $17,498 $18,093 $17,029 $16,018 $15,808 $12,995 $17,021

June- August $18,059 $15,248 $15,279 $14,331 $12,171 $11,298 $8,643 $14,438

Sept-Nov $19,438 $20,979 $19,994 $19,095 $18,422 $15,987 $12,425 $18,752

Best Season Spring Fall Fall Fall Fall Fall Spring

Worst Season Winter Winter Winter Winter Winter Winter Winter

Season Best Worst

Winter 13

Spring 4

Summer 2

Fall 11

Month (High) $9,031 TOTAL $912,263

Month (Low) $2,069

Avg. Month $5,183

St Dev. Month $1,359

Neat Repeats – A Clothing Consignment Store: Appendix 9.7. Donna Powers’ Resume

29

Donna M. Powers Home Address: 505 Indiana Avenue Phone Number: (219) 696-6275

Lowell, Indiana 46356

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

Neat Repeats – A Clothing Consignment Store: Appendix 9.7. Donna Powers’ Resume

30

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 Hammond, IN

� 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 Lowell, IN

� High School Diploma

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

Neat Repeats – A Clothing Consignment Store: Appendix 9.8. Consignment Contract for Consignors

31

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 .

Neat Repeats – A Clothing Consignment Store: Appendix 9.9. Facility Layout

32

UP

Neat Repeats

Consignment

Shop1191 sq ft

EXIT

Appendix 9.9 : FACILITY

LAYOUT (CURRENT)

Entry

Women's SlacksCoats and Jackets

Women's Tops

and Dresses

Seasonal

Items

Men's Shirts and Pants

Men's

Suits

Baby

Cothes

Misc.

Items

Juniors

19'

60

'

Neat Repeats – A Clothing Consignment Store: Appendix 9.9. Facility Layout

33

UP

Basement

Level1140 sq ft

Furnace

Storage Storage

Off Season

Storage Racks

Appendix 9.9 : FACILITY

LAYOUT (CURRENT)

EXIT

Documents

Neat Repeats Consignment Shop Business Plan