How to Launch a Business Instantly
The benefit to Peggy: The experience is pleasant and convenient, the clothing affordable, and frequently the items arrive at our front door via UPS the next day. As one of Suzy’s clients—a high-powered Philadelphia attorney—told me:
When I go there, Suzy has an outfit picked out that she knows I will like. She says, for example, “This jacket will go well with the slacks you bought last year and the gray skirt you bought two years ago." Suzy doesn’t sell you clothes; she helps you build a wardrobe.
The benefit to Worth: an efficient distribution system that obviates the need to invest in slews of SKUs in myriad sizes for the shelves of retail stores, which would have to eat big losses on unsold garments.
With the Dayang Trands line, I'd duplicate the Worth business model, giving world-class fitters exclusive territories and the opportunity to work out of their homes. They'd be supported with generous promotion and advertising.
Once a city had a full complement of home-based fitters, the traveling sales rep would be reassigned to the 'burbs and smaller towns. Ultimately, these travelers might become the regional sales managers, recruiters and trainers.
I might test Worth’s concept of having inventory at a central site for immediate delivery (instant gratification) vs. having everything made to order and shipped from China.
The premier menswear stores in the Philly area are Boyds, Macy’s (formerly Wanamaker’s), Saks Fifth Avenue and Lord & Taylor. Arrangements could probably be made for these merchants to carry the Trands line. However, in my opinion, the Buffett testimonial is so overpowering that it might wreck the sales of all other lines of suits. My bet is that traditional retailers wouldn't touch Trands with a pair of tongs.
5. The linchpin of the business model. It's imperative that the fitters be world-class. Offers for JoS. A. Bank's great deals (first suit $199, second suit just $99) are all over Philadelphia TV these days. The unctuous voice of the announcer is like fingernails on a blackboard; he gives me the crawlies and results in my instantly hitting the mute. Why? Because JoS. A. Bank in Philly once shoehorned me into a pair of gray slacks that the salesman said would be perfect once altered. The waist was let out, but the pants crimped my crotch and squeezed my butt. I chucked them out and vowed never to return.