We're picturing a fixed-width (for 1024 sized screens) layout, with a header area at the top for logo, banner image, and horizontal menu. Two columns for Content + Sidebar under that, with a full-width footer at the bottom. That's just our initial idea - if you come up with something better, we're open to it.
The home page will be a blog in the style of http://www.tailored.com.au and will include a video (YouTube) on the home page. The design will later be built into a WordPress theme.
We'll need something visually appealing, with a well-organised layout to display our information/content. The logo is attached to this contest, and the design should work with this.
The content column should have the page heading, followed by text including bullet points, links, and floating images. The footer should include some links and a copyright notice.
The menu will have a few top-level items, with dropdown options available. Your entry should show what an expanded dropdown looks like.