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Center for Curriculum and Transfer Articulation
Developing Your Fashion Business
Course: TEC103

First Term: 2007 Fall
 Lecture   2 Credit(s)   2 Period(s)   2 Load  
Subject Type: Occupational
Load Formula: S


Description: Creating and understanding a financial plan, developing operating and control systems, planning growth strategies and a business plan for the Fashion Entrepreneur. Emphasis on fashion merchandise and successful fashion business development



MCCCD Official Course Competencies
1. Explain the importance of the financial plan in a fashion business or related service. (I)
2. Analyze basic financial statements in the fashion business. (I)
3. Define key financial business terms used in fashion business and service industry. (I)
4. Explain operations in terms of the fashion facility, service or store. (II)
5. Explain operations in terms of fashion merchandise or service. (II)
6. Describe operations for the fashion employee. (II)
7. Explain operations that concern the fashion customer. (II)
8. Describe methods of inventory management and control. (II)
9. Identify strategies for growth planning in the fashion industry. (III)
10. Explain the global nature of the fashion industry and local growth potential. (III)
11. Demonstrate planning for growth in a fashion business or related service. (III)
12. Demonstrate the components of a fashion business plan. (IV)
MCCCD Official Course Competencies must be coordinated with the content outline so that each major point in the outline serves one or more competencies. MCCCD faculty retains authority in determining the pedagogical approach, methodology, content sequencing, and assessment metrics for student work. Please see individual course syllabi for additional information, including specific course requirements.
 
MCCCD Official Course Outline
I. The Fashion Financial Plan
   A. Fashion Financial Statements
   B. Analyzing the Financial Information
      1. Key Financial Ratios
      2. Break-Even Point
      3. Cash Flow
      4. Capital
II. Developing Operating and Control Systems
   A. Operations and the Facility
      1. Space and Efficiency
      2. Hours of Operation
      3. Lease and Improvements
      4. Utilities, Maintenance and Security
   B. Operations and the Merchandise
      1. Receiving and Marking Goods
      2. Merchandise, Display and the Sales Floor
      3. Paying Suppliers
      4. Tracking Sales by Fashion Category
      5. Managing Markdowns
      6. Return to Vendor and Cancellations
   C. Operations and the Employee
      1. Training Fashion Sales and Service
      2. Compensation and Incentives
      3. Communication
      4. Reprimand and Termination Policies
   D. Operations and the Customer
      1. Approaching and Assisting the Fashion Customer
      2. Transaction Flow and the Sale
      3. Handling Fashion Returns
      4. Follow-up on Fashion Promotions and Special Orders
      5. Handling the Fashion Customer Complaints
   E. Inventory and Operations
      1. Methods of Fashion Inventory Management
         a. Just-in-Time Inventory
         b. Supply Chain Management
      2. Fashion Inventory Control
III. Planning Fashion Growth Strategies
   A. Strategic Growth Planning
      1. Strategies for New Competition
      2. Strategies for Becoming a Fashion Market Leader
      3. Strategies for Creating a Fashion Market Niche
   B. Global Nature of Fashion
      1. Entry Strategies to Global Growth
      2. Global Merchandise Sourcing
   C. Steps to Planning Growth
      1. Identify and Prioritize New Products, Services or Sites
      2. Prepare a Realistic Revenue Plan
      3. Plan a Management Team and Support Staff
      4. Identify Capital to Execute Growth
      5. Develop Effective Fashion Operation Control System
      6. Exit Plan Identified
IV. The Fashion Business Plan
   A. Reasons for Developing a Plan
   B. Components of the Fashion Business Plan
      1. Cover Letter
      2. Cover Page
      3. Table of Contents
      4. Executive Summary
      5. Product/Service Plan
      6. Management and Organization Plan
      7. Marketing Plan
      8. Location
      9. Merchandising Plan
      10. Financial Plan
      11. Operating and Control Systems
      12. Growth Plan
      13. Appendix
   C. Packaging the Fashion Business Plan
 
MCCCD Governing Board Approval Date:  6/26/2007

All information published is subject to change without notice. Every effort has been made to ensure the accuracy of information presented, but based on the dynamic nature of the curricular process, course and program information is subject to change in order to reflect the most current information available.