Entrepreneurship and Business Plan for Envision Western Wear Store

This presentation focuses on entrepreneurship and the development of a business plan for Envision Western Wear Store. It covers the key components of the business model, PESTLE factors, competitors, sales forecast, and financial projection.

Enterprise
and
Entrepreneurship

Table of content
• Introduction
• Executive Summary
• Business Model
• PESTLE Factors
• Competitors
• Sales forecast
• Financial Projection
• Conclusion

Introduction
Entrepreneur is a person who develops a new business who bears most of risks as well as
enjoying the profitability. Moreover, it is basically undertaken as an innovator, a source of
new thoughts, products, services or methods. Moreover, business plan is considered as a
written document which states its new ventures. In this presentation, an entrepreneur would
start a clothing retail store named as Envision Western wear store. It would be located into
UK as well as deal in western clothes, accessories and shoes.

Executive Summary
Envision Western wear store is a new business which provides western-items in UK. As its
name suggest entrepreneur concentrate is to facilitate western wear products, accessories,
apparels as well as expecting position themselves as top retail store into particular
marketplace. Entrepreneur aim to gain 50% profitability and would want to be a central
shopping activity hub for targeted people.

Business model
According to me, entrepreneur can use Business canvas model for their start up business which
is named as Envision Western wear store. As, this assists them to know the key partners, key
activities, value proposition, consumer relationships, client segments, key resources,
channels, cost structure and revenue streams. This is shown effectively into below chart:

Continue….
Key Partners
Manufacturer
Suppliers
Textile producer
Shop centres
Key Activities
Manufacturing is then enhanced or
minimised into flexible manufacturing
facilities.
Consumer services
Trends and forecasting.
Sales.
Value Proposition
Reasonable clothes.
Spacious as well as modern stores that provides
comfortable experiences of shopping.
Trends and innovative items at medium to lower
price.
Customer Relationships
Consumer impulse.
International system of feedback to
fastly alter as well as develop on their
existent lines of clothing.
Customer Segments
Targeted marketing is men and women
of all ages.
Highly sensitive to latest western
trends.
It segment its line of product by men,
women and kids.
Key Resources
Investing into latest trends.
Effectual manufacturing procedures.
Supply chain excellence.
Concentrates upon consumer preferences.
Channels
In stores.
Face book
Instagram.
Twitter
Cost Structure
Store rent
Manufacturing
Materials
Staff
Advertisement
Communication: Into line with their affordable pricing.
Revenue Streams
Retail sales

PESTLE Factors
Also, I has been determined that for understanding the UK clothing market, entrepreneur would performed
PESTLE analysis. All the factors are described below:
• Political factors
• Economical factors
• Social factor
• Technological factor
• Legal factor
• Environmental factor

Competitors
Competitors International share % Growth trend Competitive advantages
H&M 1.6 It has grown
internationally into
emerging as well as
developed marketplace.
It have higher strengthening of brand. Moreover, they has partnership with luxury
designers.
Zara 1.4 It have developed its
business to Italy, Japan,
South Korea, UK, and
others.
It have sophisticated feedback network, lower advertisement expenditures.
Uniqlo 0.7 It has basically developed
its enterprises into
Taiwan, Hong Kong and
etc.
It has higher techno innovation system as well as lower cost model.

Sales forecast
For this business plan the sales is forecasted as this is
considered as the procedures of anticipating upcoming
sales. Exact sales forecasts allows firm to develop effective
decisions for the business as well as predict shorter as well
as longer term performance. Moreover, this is simple for
entities to anticipate upcoming sales according to the last
business information. So, it is essential for business to
perform sales forecasts. The sales forecasts of Envision
Western wear store are projected through bar chart:

Financial projection
For respected business plan, financial projection is done as this is
considered as a forecast of future incomes as well as expenditures. Mainly,
the projection will account for internal or historical information as well as
will incorporate an anticipation of external market factors. Along with this,
into the business planning process the formulation of financial statements is
an important aspects as this anticipates the results in upcoming period.
Moreover, this also assists entrepreneur to evaluate what extra assets are
required for supporting enhanced income as well as potential affects upon
their predicted balance sheet. Therefore, the financial projections of
Envision Western wear store are shown through bar chart.

Conclusion
Based upon the above presentation, this has been concluded that this is vital for entrepreneur to
develop an effective business plan which assists them to become an successful
entrepreneurship. For instance, canvas business model is assists to known about their
strategies, customers etc. Also, PESTEL analysis is conducted as it aids in understanding the
external analysis of particular market. Moreover, STP analysis is applied in order to know
segmentation, targeting and positioning. Apart from this, financial and sales are forecasted to
get knowledge about finance that is required.

References
• Tran, K., 2020. Establishing A Business Plan for Dog Coffee&Tea Helsinki.
• Usman, A., 2020. ENTREPRENEURSHIP AND SMALL BUSINESS.
• Yahaya, D. A., 2020. Individual Assignment: Business Plan Report
Fundamentals of Entrepreneurship (ENT300): Go-gurt Enterprise

08/10/20