Future Goals

When planning our business we need to be looking ahead to the future. Where do we hope to be positioned in 1 year, 5 years, or 10 years time? It is crucial for companies to have strong goals set in place for business growth and development. As a group we have discussed a list of future goals for Refresh to give stakeholders, designers, and investors a clear vision of where the business is heading.

Expand garment size range and stock.

As we are only a small business starting out we have to be realistic when determining the number of garments and sizes available on the app for the first few months. We plan to start the app with 200 garments available to rent. These garments will range from size 8-16. Once the business is stable, generating a strong income, and has an established customer database we plan to expand the size range to include sizes 6-18/20. A wider size range will increase customer numbers as the app will be accessible to a wider audience. We also aim to steadily increase stock numbers to ensure our stock is always fresh and up to date with the latest fashion. Increased stock will give our customers more variety.

Increase staff numbers and warehouse scale.

Once we start to increase stock numbers we will need to introduce more staff. We plan to start out with 2 full-time staff. In 12 months time we would hope to have doubled the team to 4 full-time employees. Also in 12 months time we plan to expand our warehouse space so that we are able to comfortably store more stock.

Introduce menswear.

In 3-5years time we would look further into introducing menswear to Refresh. Ideally we want our app to cater to everyone however, we would need to conduct extensive market research to determine if men would actually want to rent clothing before we go ahead and add menswear to the app. This is an area that has potential but will need thorough research.

Partner with international sustainable fashion designers.

We plan to initially stock New Zealand fashion to keep everything local. In 1-2 years time we would like to partner with international sustainable designers to increase the variety of clothing available on the app.

Physical shop.

In 5 years time once Refresh is well established with a large customer database we would love to open a physical shop. This space would give our customers the opportunity to view the clothing firsthand and try on the garments before renting. This is a long-term future goal. A physical shop would also therefore mean more stock, staff, and rent cost.