Case Study on Bespoke Threads-Tailor-Made For Success
Added on 2020-10-23
10 Pages3067 Words297 Views
Entrepreneurship
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Case Study on BespokeThreads-tailor-made forsuccess
TABLE OF CONTENTSSUMMARY ....................................................................................................................................1TASK 1............................................................................................................................................11) Would you recommend that Alison keep operating as she is, or should she expand viafranchising? Explain...................................................................................................................12) What are some of the personal problems of growing the business further?...........................33) Is Alison more likely to fail than a bespoke clothing business operating out of a shop?Why?...........................................................................................................................................4CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
SUMMARY This case study reflects on how Alison and her colleague left an insurance company andstarted a business of custom made clothing for women. In that time it was not available inAustralia. Therefore, for starting business and acquiring funds they developed a business plan. Inthis they rented a shop in CBD and hired professionals that helped in designing andmanufacturing of cloths (Jacobs and Schramme, 2016). This idea was very successful. But themain disadvantage was they spent all time in shop and didn't have personal life. Then, theydecided to take on third owner and offered partnership to a known person in fashion industry.This changed the overall operations of business. It proved to be wrong as business suffered ahuge loss. With this the original partner decided to sell her share. With this partnership wasdissolved. Then, Alison decided to continue with it and translated into home business. But Alison kept business going on and in several years she started earning profits andbuild a strong client base. Also, online order system was implemented by her that made it easyfor customers. They can order new garments when they come for fitting. So there was no needfor physical store. Now Alison want to grow business in other cities, so she is planning tofranchising it. For this she also had talks with interstate franchisees so that concept can beconverted into franchise structure. TASK 11) Would you recommend that Alison keep operating as she is, or should she expand viafranchising? ExplainIn context to given case study it can be seen that when bespoke business was running inshop Alison and her partner has to spend a lot of time in that. So this was the reason they was notable to maintain balance between personal and professional life (Scarborough, 2016). Then, theyboth decided to hire third partner but this idea failed and business suffered a loss. Due to whichher original partner sold her share and partnership dissolved. Then, Alison decided to operatefrom home. For this she continued to work in similar way. After earning a stable profit sheimplemented an online ordering system so that more profits can be generated and work canbecome easier.
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