Entrepreneurial Venture Assignment

Running head: ENTREPRENEURIAL VENTURE
THE PLUS SIZE STORE – An Entrepreneurial Venture
Name of the student
Name of the university
Author Note:

1
ENTREPRENEURIAL VENTURE
Table of Contents
Introduction:....................................................................................................................................3
About Plus Size Store:.....................................................................................................................4
The company, its modus operandi and leadership structure:..........................................................4
Product line:.....................................................................................................................................5
Opportunity:.....................................................................................................................................7
Market of Plus Size Store:...............................................................................................................7
Taking opportunity of the market in a sustainable way:................................................................10
Funding of the store:......................................................................................................................11
Capital generation:.....................................................................................................................11
Revenue:....................................................................................................................................12
Investments:...............................................................................................................................13
Legal compliance:..........................................................................................................................14
Governance arrangements:............................................................................................................14
Relevant cultural aspects:..............................................................................................................15
Relevant leadership aspects:..........................................................................................................16
Marketing considerations:.............................................................................................................16
Technical considerations:..............................................................................................................18
Sustainability considerations:........................................................................................................18
Risks:.............................................................................................................................................18

2
ENTREPRENEURIAL VENTURE
Key Business activities of THE PLUS SIZE STORE Time:........................................................19
Conclusion:....................................................................................................................................21
Recommendations:........................................................................................................................21
References:....................................................................................................................................23

3
ENTREPRENEURIAL VENTURE
Introduction:
Entrepreneurial ventures usher economic benefits in the nations they serve. Urbano and
Aparicio (2016) mention in this respect that, ‘Entrepreneurship has been considered an
important mechanism to achieve economic growth.’ This is because entrepreneurial ventures
lead to development of products, creation of job opportunities and generation of revenue.
Prandelli, Pasquini and Verona (2016) opine that entrepreneurs have cognitive skills which
enable them to identify the gaps between demand and supply in the market. They identify the
needs of the consumers which the existing firms are not able to fulfill with their products or
needs which are not fulfilled to the satisfactory levels. These gaps between the expectations of
the customers and the present products present opportunities to the entrepreneurs to develop new
products. The entrepreneurs develop new products to market them and earn profits (Reuber et al.
2018) strengthen the opinion by pointing out that entrepreneurs using their skills to identify
market opportunities to expand into foreign markets as well. Hoogendoorn, van der Zwan and
Thurik (2019) though do not contradict the above authors, point out that entrepreneurial ventures
in the initial phase face shortage of resources like financial resources and have to compete with
the established firms marketing almost related or similar products. Moreover, the established
firms use strategies like marketing to retain their customers and prevent newly entering firms
from entering the market. These factors pose risks before the entrepreneurial ventures entering
the market. Thus, the entrepreneurial firms in order to utilize the market opportunities and reduce
the risks substantially have to form business plans. The aim of the report would be presenting a
business plan for an entrepreneurial venture called THE PLUS SIZE STORE which would be
based in Australia. The market opportunity which the firm has identified is the lack of sufficient
numbers of stores marketing apparel for women with plus sized body frame. Moreover, the

4
ENTREPRENEURIAL VENTURE
existing stores selling plus sized apparels usually sell limited number of specimens. They
generally do not introduce diversification in terms of designs and variants of the apparel
(Clements 2016). This lack of stores which advertise plus sized apparel as a part of their
respective mainstream product line would provide market opportunity to THE PLUS SIZE
STORE to enter the apparel market of Australia and New Zealand. It would be an online
apparel store and would open its own outlets in the future years.
About Plus Size Store:
The company, its modus operandi and leadership structure:
THE PLUS SIZE STORE would be an online apparel marketing company which based in
Melbourne, often referred to as the fashion capital of Australia (Theaustralian.com.au. 2020).
The online store would be available to customers for viewing its entire collection of pieces
of plus sized apparel products on the official website of the company www.tpss.com.au. The
term ‘tpss’, in the name of the official website would be the abbreviated form of the name of the
company. The customers would also be able to download the tpss app on their smart phones to
view and order apparel. The uniqueness of THE PLUS SIZE STORE would lie in the fact that it
would market customised plus sized garments as its main stream product line. THE PLUS SIZE
STORE size store would gain information from the individual customers regarding their
preferences in terms of size of the apparel, cut, design and styling aspects. The firm would then
provide customised plus sized apparel pieces to women as per the particulars received from them
in the order. The clothes would be sourced from India since the manufacturing costs in the
country is low.

5
ENTREPRENEURIAL VENTURE
The company would be a limited liability company at least in the initial stage. However,
as the business would expand, THE PLUS SIZE STORE would get listed on the ASX to gain the
status of a listed company. The company would function under the leadership of a CEO. The
board of directors would take the business decisions after being approved by the CEO. The
tagline of THE PLUS SIZE STORE would be ‘Because you are beautiful’.
Product line:
The mainstream product line of THE PLUS SIZE STORE would consist of a wide range
of pieces of apparel sourced from India for women with plus sized body frame. The main raw
material which would make up the apparel products would be superior cotton which would
provide comfort to the consumers. The fabric used would allow free movement to the large sized
women which would make them feel confident. As far as the variants of apparel are concerned,
the buyers would be able to choose from a vast array of style and design. The online store would
market t-shirts, shirts, jackets, skirts, pairs of casual trousers, pairs of formal trousers, gowns,
formal suits and pullovers, all for plus sized women. THE PLUS SIZE STORE would also
market accessories like fancy jewelry, hats, scarves, wrist bands, ties and belts. The apparel
would be available in different types of colours ranging from bright colours like red to dull
shades like grey. The consumers can avail variety of designs like single colour, floral and stripes.
The product line of THE PLUS SIZE STORE would provide women apparel products and
accessories as per their needs, tastes and preferences.
Business Model canvas of THE PLUS SIZE STORE, Australia
Key Partners
Key
activities
Value
propositio
n
Customer
relationship(H
ow)
Customer
segments(Wh
o)