Custom Order Status for WooCommerce

We have a use case for setting a custom order status of “Collection Order” where we can allow a user to order a product that is not yet available however we can filter the order status to show and email them an update email when the product is available for collection. This way we can ensure that all orders be it physically shipped or collection at store can be tracked. Once the product has arrived, we would then like to change the Status to Collection Ready, which will then send an email to the customer for the order to state basic details of the shop opening hours and that their order is ready for collection.