Detailed Business Plan for Sunglasses Company Entering the UK Market

This report presents a business plan for a sunglasses company aiming to enter the UK market. It begins with a business idea focused on competing with established brands like Prada and Oakley. The plan outlines the target market, emphasizing the UK's stable political environment, strong economy, and high standard of living. Market analysis includes evaluating income levels, buying behavior, culture, and market segmentation, along with PEST analysis to understand external factors. The plan identifies strengths such as the UK's global market reach and rising foreign direct investment, while acknowledging weaknesses like potential trade restrictions and strong competition. Strategies discussed include joint ventures and partnering to attract customers and change buying behavior. The report emphasizes the importance of a clear business plan format, covering product description, research, budget, data collection, communication, and implementation. It concludes with a focus on achieving market share within five years and the importance of financial feasibility. The plan also includes references to support the findings and recommendations.

Contents
Business Idea...............................................................................................................................................2
Target Market..............................................................................................................................................2
Analysis of the Market................................................................................................................................3
Strengths and weakness of the business plan...............................................................................................3
References...................................................................................................................................................7

Business Idea
The business idea is to promote the sunglasses company competing with the famous brands like
Prada and Oakley. It is imperative to generate the business plan for launching the sunglasses in
the target market. The analysis of the market and the evaluation of the strategies should be the
part of the business plan. The main aim of the business idea is to enter in the markets of UK for
the successful growth and to compete with the famous brands.
The main objectives of my business idea are-
To analyze the foreign markets as well as the markets where that product is being
promoted for the understanding of the challenges
To find the prime target market which will help the company to start manufacturing the
glasses on the basis of the needs of the customers
To find out the investors to avoid the financial crisis in the coming years
To increase the market share of the sunglasses company.
Target Market
The country we have decided is the markets of the UK. The business plan should cover the
evaluation and analysis of the markets of the UK. The reason of choosing the UK country is that
it has the stable political environment and there are many chances or great opportunities to grow
because of the stable government policies. The UK also has a strong economic position as
compared to other developed countries. The UK is the country that holds the position of 5th
highest GDP (Gross Domestic Production) in the world.The foreign direct investment in the UK

country is increasing and that will result in the increase in the new entrants in the markets.
Another reason for choosing that country is that the standard of living in that country is very high
and the demand of the sunglasses will also high. As we know that, the UK is a MEDC (More
economically developed country ), so it is the best decision to choose that country (Government,
2017).
Analysis of the Market
Before making any business plan, it is important to analyze the market on the basis of the income
levels, buying behavior, culture and the market segmentation. The plus point of this analysis will
be to meet the demands of the customers as per their expectations. The Market of UK is the
leading business Centre of the European market. The business plan of the sunglasses clearly
depicts the country analysis by categorizing the market on the basis of culture, income levels and
the market segmentation. The PEST analysis used to analyze the factors of the sunglasses
company. In the today time, the people are love to spend money on the clothes and the
accessories. The sunglasses is the product which is highly in demand by the young males and
females. The sunglasses also represent the status symbol of the people living in UK.
Strengths and weakness of the business plan
The business plan is really very helpful in explaining many strengths and weaknesses of the
competitors as well as the promotion of the sunglasses. The strengths of the business idea is that

the UK is the global market and able to build good relations with the retailers, wholesalers and
importers as well as the exporters. The rise in the foreign direct investment also helpful in
creating more and more growth opportunities for the sunglasses company. The political culture
in the UK country may be strength for the business idea of promoting sunglasses in the targeted
market. The SWOT analysis need to be conducted to know their views (Wolfe, 2017).
As such there may be some weakness will find in the business plan like the trade laws or the
government laws of the UK country that restricts the entry of the products in some cases. From
the business plan, it is clear that the country’s transport system is still under a question and needs
a rapid transformation. The reason behind the poor transport system is huge population and a
number of industries occupying most of the lands. Another weak area of the country is its
Innovation sector. It is also seen through the business plan that the competition for the sunglasses
is very strong as it may be difficult for Company to change the buying behavior of the UK
people from Prada to normal company. There are many factors also that may affect the
marketing of the sunglasses company like, social, economic, political and technological
(Thompson, 2005).
The business plan should also focus on the strategy made for the entry of the products in the UK
market. In the business plan, the entry strategy should involve the understanding of the current
trends of the market and the changing consumer behavior. The strategies that may be helpful for
the sunglasses is the joint venture and partnering with the third party. This type of expansion will
help to attract the customers as well as to change the buying behavior of the customers.
The Format of the business plan should be very simple and clear and it covers all the steps of the
plans like-

Description of the product
Research approaches
Review of the budget
Collection of data
Communication of plan to the superiors
Implementation of the plan
Review of the business plan (Eisenhower, 2016).
In the last it is very important that the company should focus on the implementation of the
strategies and plans in an efficient way to promote the products. The report covers all the
environmental analysis of before implement the strategies. The purpose of this report is to clarify
the idea of business strategies. In the last, it is concluded that the company should achieve its all
the objectives by making proper planning and the implementation of the plans. The business
plan of the Sunglasses should be built which is feasible in nature.
The results expected from this business plan is that sunglasses will gain the highest market share
in the UK in the next coming5 years. The business plan built should meet all the financial
budgets of the company. It is very important to avoid the financial crisis at the time of business
planning. The company and the product chosen by me is effective in nature and the idea is
innovative. The experts could be hired to review the business plan and to evaluate that whether
the firm could keep operating as it is or they need to make substantial changes. The business plan
that’s going to be built should show all the new strategies as well as the strengths and weakness
of the product going to be launched in the UK market. A business plan should be feasible in all
the aspects like SWOT analysis , Consumer analysis, target industries and PEST analysis.
Compared to other European States, the country receives plenty of Foreign Direct Investments

from other developed economies This not only boosts up the country in a financial manner, but
also allows it to strengthen its relationship with leaders in the world economy. The business plan
should set all the objectives in their mind and motivate the manpower to achieve these
objectives. In the today time, the peoples should spend money on the clothes and the
accessories. The sunglasses is the product which is highly in demand by the young males and
females. The sunglasses also represent the status symbol of the people living in UK.

References
Eisenhower, D., 2016. Why You Need a Business Plan, Available at:
https://www.shopify.com/guides/businessplan/why-you-need-a-business-plan
Government, C., 2017. Feasibility Report Template, Available at: http://www.tpsgc-pwgsc.gc.ca/biens-
property/sngp-npms/ti-it/etivcarftp-idsfvfrmd-eng.html
Thompson, A., 2005. Business Feasibility Study Outline, Available at:
http://bestentrepreneur.murdoch.edu.au/Business_Feasibility_Study_Outline.pdf
Wolfe, L., 2017. How to Write a Feasibility Study Step by Step, Available at:
https://www.thebalance.com/what-is-a-feasibility-study-3514853