Business Description
My business is a clothing collection, PLUTOCRACY, which produces clothing for women. I started my business in January 2009 and financed myself. The biggest challenge was financing myself while still learning the business. I learned a lot of wonderful and powerful lessons in my process and I will use this renewed outlook to focus on sales and build the business organically. My collection was previously targeted at women who were corporate rebels, but I am looking to women who are independent style mavens and entrepreneurs like myself. These women are on a mission to build the lives they desire. It is my goal to build a successful e-commerce business, while securing 20 whole sale retailers (half of which I already have relationships with). Previously, I was able to secure sales for PLUTOCRACY in 4 countries on 3 continents (US, France, Turkey and Russia). In addition, I single-handely secured press in Vogue India, Vogue Italia, Essence, Zink as a 1 woman entity.
This opportunity will allow my business to implement and increase sales via online and boutique purchases. I have kept relationships with previous retailers and trade shows are strictly to focus on sales and reach many more buyers (trade shows have between 100 – 250 buyers in 3 day period). It is my determination to make this investment turn into $35,000, which will be re-invested into the business to push towards the goal of being profitable. When I consider my family, it’s a wonderful message for my son. I believe that being an entrepreneur is not for everyone, but those of us who embark on this path are destined for it. I have continued on this path of entrepreneurship because it’s a passion, but more importantly a calling. It is my way of being an example to my son and encouraging him to follow his dreams because if you stick with it through ups and downs,…you will see success.
What is the purpose of this loan?
As I have plenty of experience in fashion, I’ve been a creative entrepreneur in Fashion and have had an opportunity to have ebbs and flows with PLUTOCRACY. I feel seasoned and passionate in my quest to gain success with this venture and this infusion of cash will allow me to advance on my mission. This loan will allow me to re-launch my brand and re-introduce it to tastemakers, editors, potential investors (grant preparation – Eileen Fisher & Cartier) and retail/e-commerce buyers, while re-connecting with the customers who love and support the brand. This loan will allow me to purchase:
Textiles: $2,500.00 Patterns & samples: $3,000.00 Trade show (DNA – Designers & Agents) application & reserve: $500.00 (not including actual show) Materials (products, e-commerce site): $1,500.00
This opportunity will allow my business to implement and increase sales via online and boutique purchases. I have kept relationships with previous retailers and trade shows are strictly to focus on sales and reach many more buyers (trade shows have between 100 – 250 buyers in 3 day period). It is my determination to make this investment turn into $35,000, which will be re-invested into the business to push towards the goal of being profitable. When I consider my family, it’s a wonderful message for my son. I believe that being an entrepreneur is not for everyone, but those of us that embark on this path are made for it. I have continued on this path of entrepreneurship because it’s a passion, but more importantly a calling. It is my way of being an example to my son and encouraging him to follow his dreams because if you stick with it through ups and downs,…you will see success.