A terminal year end report of HIM

• Main Author: Concepcion, Beatrice Dennise B.
• Format: text
• Language: English
• Published: Animo Repository 2019
• Subjects: Shirt industry—Philippines; Business incubators—Philippines; Entrepreneurial and Small Business Operations
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/6446; https://animorepository.dlsu.edu.ph/context/etd_masteral/article/13508/viewcontent/Concepcion_HIM_Terminal_Year_End_Report_2.pdf
• Institution: De La Salle University

Venture History HIM is a passion project that unites spirituality and style. Initiated by a Young Preacher and a Minimalist Fashionista, HIM was born out of the idea of preaching and living up to His words and ideals through contemporary life-wear. The design aesthetics of every shirt is simple and timeless, just like HIM. With great passion to start a meaningful cause, the owners made HIM a fashionable social enterprise with the advocacy: #WearShareCare. With the proponent’s desire to test whether there is a market for her idea, the author started selling shirts to her friends and coworkers and it turned out well with a successful outreach party for its initial chapter. Venture Description Operating under the apparel industry, which continues to develop positively in the coming years, HIM is on its development/startup stage. Despite several worship/advocacy t-shirt brands present in the fashion industry today, HIM possesses unique features that will make it stand up for its own brand. These are the following: (1) HIM is hand-embroidered; (2) HIM accepts custommade orders; (3) HIM advocates statements in a different aesthetics – minimalist and stylishly subtle; (4) HIM is socially responsible. Venture Organization HIM will operate as a sole-proprietorship. As a startup venture, HIM will be composed of the following management personnel: Chief Executive Officer/Marketing Manager/Sales Representative, Chief Operations Officer/Financial Officer/Sales Representative and Production Manager. The personnel running HIM have extensive experiences in corporate businesses as well as newly established brand. The author and owner, for instance, specifically works as a marketing and sales manager for a Philippine-based global accessory brand and is updated with the current trends in terms of marketing as well as the latest trends in fashion. In addition, the coowner holds the International Coordinator position for an International Dominican Youth Movement and is well exposed to various religious groups and sectors. The management is also connected to a number of people with business and financial background who could serve as advisers for the business. Venture Market Apparel and Footwear industry continues to develop positively despite economic challenges. According to Euromonitor, sales of Philippine apparel sector was valued at Php 377.5 billion in 2017. With this positive plight, HIM aims to target yuppies and Filipinos belonging in the middle class to upper middle. Religious organizations, evangelizers, and small private companies are the secondary target market of HIM. An illustration of the target market's lifestyle may include: a person who is proud of his/her faith, fashionable and has eye for classic staples, visits bazaars and follows the latest trends on social media, confident to purchase online and generous enough to help other people. HIM will be beneficial by offering comfort and style, sharing innovative techniques and advocating social responsibility. Aside from the stylish and comfortable staple product that can be worn a couple of times, HIM will also be agents in advocating positivity and preaching good news while assisting its customers in giving back. 2 The major competitor of HIM would be the other statement shirt brands particularly, Worship Generation. This brand has been well established as it has been one of the pioneers in worship statements and thus, have founded several distribution channels in malls. However, this brand has an entirely different design aesthetics compared to HIM as it is digitally printed with vibrant designs and its price point is higher than HIM’s target retail price. Other competitors would be typical shirt brands with urban and colloquial statements and/or graphics such as Linya-linya, Magnificat, The Perfect White Shirt, and several international and local apparel brands like Bench, Artwork, Penshoppe, H&M, etc. Venture Operations The capital needed for the venture to start is estimated at Php 98,220. For the most part, this will include expenses on inventory for product development, licenses and permit and operational expenses. Marketing expense may take a small percentage in the total start-up capital as the business format would be using more of online marketing strategies and personal connections, which are less costly. Venture Financing Since the startup cost for HIM is relatively feasible, the team would be obtaining funds through personal savings as well as to seeking financial assistance and debt from relatives and co-owners when the need arises.