Developing a Business Plan for Ready Bags and Clothing

This presentation discusses the process of developing a business plan for Ready Bags and Clothing, a business offering jute bags and clothing accessories. It covers the motivation behind starting the business, the process of generating the business idea, conducting feasibility studies, details of the products and services offered, potential market opportunities, industry attractiveness, and the vision of the business. The presentation is relevant to BM564 Enterprise and Entrepreneurship.

Enterprise and
entrepreneurship

Table of content
• Introduction
• Main Body
• Motivation to start the business
• Process involved in generating the business idea
• Conducting the Feasibility Studies
• Details of different product/service to be offered
• Potential Market Opportunities
• Attractiveness of the industry
• Vision of business
• Conclusion
• References

INTRODUCTION
• Entrepreneurship is the process of creating new ideas which helps the
business to achieve success in the market. The individual needs to
identify different risks and analyse strategies to improve the
profitability and achieve desired outcomes. The report aims to
analyse about developing a business plan which is systematic in
every manner. The presentation will include various aspects. The
business will offer new variety of jute bags and new clothing
accessories to enrich the customer experience and the business is
named as Ready Bags and clothing.

Motivation to start the business
There is a high demand in the fashion industry
there are multiple customers which can attracted in
a systematic manner. There are multiple individuals
which needs new variety of products and the big
companies is providing them the similar products.
The jute bags are environmental friendly and it can
preserve the environment. This will also make the
business more sustainable. The growth could be
achieved in this business there are multiple
individuals which is searching for the alternatives

Process involved in generating the business idea
• Examining the skill set for the business –
There are multiple skills which is required
in order to start the business. The
entrepreneurs skills include decision
making, problem solving, critical thinking
etc. In order to generate high revenues there
needs to be accuracy while using a process
which fulfilled the desired results for the
business.

Conducting the Feasibility Studies
• Step 1: Conduct preliminary analysis –
The individual needs to invest the time and
the resources which is utilised in order to
make and effective business. It needs to be
effective in every manner.

Details of different product/service to be offered
• Ready jute bags and clothing offer different accessories to a
large number of audience in the market. The customer demand
is surging high in the market and there are limited amount of
options present in front of them. The business has several
products which includes jute bags, silk clothing, t-shirts and
organic fragrances. This is one of the major sources to attract
different customers in the market. There are excellent products
which is been offered to the customers.

Potential Market Opportunities
• The organisation needs to analyze new marketing opportunities
which will help to expand the business in multiple regions.
Ready Jute bags and clothing provides the products as per
customer needs and wants. The main focus is to target the
customers which is finding the new and unique products from
the particular brand. The new business needs to evaluate all the
preferences of the customers and target the customers on the
basis of age, gender etc

Attractiveness of the industry
• Competition in the industry – This is the step which helps
the firm to analyse the competition present in industry. Ready
jute bags and clothing could compete with the big companies
by providing new products.
• New entrants in the industry – This the major threat for the
organisation there are multiple entrants which could come in
the industry. Ready jute bags and clothing provides the
quality products which will help them to gain a competitive
advantage in market.

Vision of business
• The business will also gain a competitive
advantage in the industry by providing
quality products.

CONCLUSION
• From the above presentation, it has been concluded that there are various steps while
making an effective business plan. Along with that, the idea generation needs to evaluated
properly. This will help the business to perform better in every manner.

REFERENCES
• Bennett, D. and Gibb, Y.K., 2022. Enterprise Learning and Skillsets. In Entrepreneurship,
Neurodiversity & Gender (pp. 73-93). Emerald Publishing Limited.
• Dionisio, M., 2018. The evolution of social entrepreneurship research: a bibliometric
analysis. Social Enterprise Journal.
• Dzwigol, H., Dzwigol-Barosz, M. and Kwilinski, A., 2020. Formation of global
competitive enterprise environment based on industry 4.0 concept. International Journal
of Entrepreneurship, 24(1), pp.1-5.