Entrepreneurship and Leadership of Business Venture: Business Plan Report

This report is about launching a new business idea called Forester Flannels, which involves selling customized footwear and clothing online. It includes details about the business idea, location, market analysis, product description, USP, competitor analysis, operation plan, risk and contingency plan, sales and marketing strategy, finance and funding plan, and management team.

ENTREPRENEURSHIP
AND LEADERSHIP OF
BUSINESS VENTURE
BUSINESS PLAN REPORT
Table of Contents

INTRODUCTION..........................................................................................................................3
MAIN BODY..................................................................................................................................4
Business detail............................................................................................................................4
Location......................................................................................................................................5
Market or industry analysis.........................................................................................................6
Product service description ........................................................................................................7
USP and competitor analysis......................................................................................................8
Operation plan...........................................................................................................................10
Risk and contingency plan........................................................................................................10
Sales and marketing strategy....................................................................................................10
Finance and funding plan..........................................................................................................12
Management team.....................................................................................................................13
CONCLUSION.............................................................................................................................15
REFERENCES.............................................................................................................................16

INTRODUCTION
Business plan is a set structure about the new business idea that is needed to launch by
the stakeholder. This report is about to launch a new business idea called as Forester Flannels.
The business venture is involve in selling customised footwear and customised cloths online.
This project is a business plan in order to successfully launch of the business idea. Henceforth,
report will emphasis over details of business idea. Location of business will also discuss in this
project. Market and industry analysis will conduct. Product and service description would also
coordinate in this project. USP and competitor analysis will also be a part of this project.
Operations plan will also sum up under this study. Furthermore, report will discuss about USP
and competitor analysis. Operation plan is also a part of this study. Risk and contingency plan
provide different details about the ways to overcome risk and contingency. Sales and marketing
strategies that can boost up growth of the new business idea will also discuss in this project.
Finance and finding plan will also talked in this report. Management team will create an eye
over the project.
MAIN BODY
Business detail
Forester Flannels is a new business idea involve selling cloths and foot wear online. The
product are customised under the business idea as it allow the consume to get product based on
the individual need and requirements of the consumer in market. The business idea is such that
customer get to place the order by providing description over the choices they have or the
requirements consumers hold against the clothing product or the footwear it is looking at to
match the particular need and demand (Yrjölä, 2020). Company has a plan to sell its product
over internet with support of the website of the business venture. Customer footwear and cloths
involve allowing company to prepare the product as per the individual need and demand of the
potential customers in the respective target market.
Company will run a website and its social media handle where customer can go and
explore all different facilities business entity cater to the target consumers. Description about
product is also available in respect to product design, prices, colour combination and all other
features are also attached over the website of business. The business idea is unique as it allows
the consumer to shop as per the specific requirements they hold. Very customer has its won
choice and preference which further not possible for the business entities to meet up the

individual need and requirements as a consumer. Customer product segment make the customer
more capable and empower the consumers to buy products as per the individual need and
demand of such consumers (Santamaria, 2020). This will further provide a scope to business
entity to create new trends and fashion that will change the dimensions of the entire fashion
retail sector. This will further create a huge scope of innovation and creativity associated with
the business idea.
In context to the fashion retail industry the demand of product is massive. In such a
aggressive level of competitive environment customised fashion retail products will make
market more volatile and open. All this will support the business venture to create new growth
opportunities in the respective market even after receiving the aggressive level of market
competition. Company will online stock to foot wear and the clothing range for all the gender,
age group and other social diversified elements (Paavilainen, 2018). The potential customer
segment is huge for the business idea company has explored. Company will also provide a
facility of return the products in case the product do not match up the expectations and demand
of the customer base.
Location
Management of Forester Flannels is planning to launch the business in United Kingdom
at this point in time. Every business venture require capital resources to successfully launch the
business idea. United Kingdom hold a very open and progressive market related to the fashion
retail sector. People are very supportive in nature to motivate the growth of the new and
innovative business idea (Neel, 2020). The basic crux of the business is to produce products
based on the individual need and demand of the potential customers under the respective market.
I case of new business venture location where the entire set up will run is very important as the
growth of any business is not belonged to the idea behind the entire set up but the approach
company use to convince its customers and also the location or a place where the whole set up is
established.
United Kingdom is the home place for many business ideas. Many entrepreneurs started
their journey from the United Kingdom and currently dominating the entire world of business
environment. Forester Flannels is also approaching United Kingdom as its place of business due
to the environment in country. People are very modern and progressive in term of thinking and
mentality. The basic need behind the success of brand is that people must initiate to place the

over in order to meet up the individual need and demand of potential customers. Company will
own its office in London so that all stakeholder could have been engaged successfully by the
business entity. The place of the business would allow the Forester Flannels to easily cover the
major market of UK. London has a very strong market base especially in respect to the fashion
retail sector (Kunz And et.al., 2020). The location of the business made this location more
empowering in respect to the business entity. People are also has a very lavish taste in fashion
products. The attitude of people in UK is also such that they will also explore the new business
idea and try out product offer by new business venture. Government is also very supportive in
UK as the contribution of the business sector is massive in the overall growth and development
of the businesses. All the different elements make the location more engaging in respect to the
place of business.
Market or industry analysis
Market or industry comprises with different factors create an impact over the operations
of business entity. The industry is a sum of elements like political, economic, social,
technological, environment and legal factors. All these elements comprises a market or a
business environment in which the business venture operate its functions. Following is the
assessment of the market or fashion industry in which the Forester Flannels will operate its
business functions. All these elements and factors would significantly effect the operation's
undertaken by the new business venture and behind the overall success of the business house
these factors will contribute significantly.
Political factor: Political condition in United Kingdom is very favourable as government give
constant support to the business venture, so they can fly in the market. Government holds a
progressive nature of mentality that empower the business houses to achieve the best level of
implementation regarding business plan. Policies of government also support like compensation
policy in which government provides compensatory advantage in taxations and deductions so
that new business venture can survive at the initial stage of the product life cycle (Kadir and
Shamsudin, 2019). The aim and vision of the government in country is also such that it create a
positive and transformative impacts over the overall growth potential of the new business
venture.
Economic factor: Economic condition involve per capita income of people in country that
clearly influence the overall growth and development possibility of the business entity. Forester

Flannels is currently planning to initiate business operations across in United Kingdom.
Company is planning to offer customised products to its end customers. The pricing comparison
clearly reflect that customised product range are more expensive as compare to other normal
products that seek extra investment or cost to procure the respective products. Economic factors
like per capita income, growth of the fashion retail sector in UK is 5% annually, inflation in
country is also controlled due to the effective monetary policy of government and many such
economic elements make the business more competitive to entertain success in the business
environment (Acosta, Ihle and von Cramon-Taubadel, 2019).
Social factor: Society in United Kingdom is very open in nature. People in UK likes to prefer
and experience new products and business ideas. This whole concept of customised clothing and
foot wear is innovative and allow customers to meet up the fashion related needs to be based on
individual perceptions and desires. People in country are also educated and understand the need
of fashion in life (Balco, Law and Drahošová, 2017). All these goes in favour of the Forester
Flannels to achieve the success in the market even at the initial stage of the business life cycle.
Technological factor: The entire idea of Forester Flannels is based on high technological
advancement. AS the role of technology will be massive in channelising business operations.
Company is planning to offer its products over internet and over different social media platforms
only that will require the heavy use of technology in delivering sales and other operations. The
online business model or e-commerce is all based on technical advancement of company
(D’Souza And et.al., 2019). In United Kingdom government has given huge emphasis over
advancing information technology in country. The constant efforts and focus of government
over technical advancement make the potential of the new business venture Forester Flannels
brighter to achieve success in the market. Company will get to utilise the latest technological
equipments and products to channelises its business operations.
Environment factor: The product line Forester Flannels is offering to its customer is
customised clothing and foot wear products. People in United Kingdom is very keen towards
utilising eco-friendly products. Company is planning to deal in only eco-friendly products that
can match up with the needs and demands of potential customers in market. Forester Flannels
will also engaged in corporate social responsibility to develop the positive brand value in
country.

Legal factor: Legal regulations are strict in UK that will allow company to clearly meet up all
the needs and requirements of the legislation in country. Different laws like equality, anti
discrimination and many more are implemented in country that would implement over the
Forester Flannels.
The above mentioned points denoted different aspects related to the market and industry
in which Forester Flannels is operating its business.
Product service description
Forester Flannels will provide online services to its customers with support of its
website and social media handle. Company will allow the customers to provide services and
products over internet. Customers will get chance to book products online and also recommend
the customised need and requirements. Currently company is dealing in clothing range and foot
wear for all types of people irrespective of age group, gender or any other social class. All types
of clothing range for girls and boys will available over the company website (Cavalcanti, 2019).
Along with the customised product range it will also offer products made originally as per the
designs set by the Forester Flannels itself. Company will also involve the design of customers
that is engaging and trendy in market.
Customised product range will allow the customers to book the product by allocating all
the description and requirements of the respective customer base. Company will also attach the
customer grievance section over its website that will allow the consumers to place the complaint
regarding product and service if they face any against utilising the services offer by the Forester
Flannels. This will further allow the business entity to establish strong and healthy relationship
with the potential customers in the respective target market.
Product portfolio of company is distributed into clothing range and foot wear products
associated with the fashion retail sector. Company is offering products to all types of customers
part of the sector like all age group, gender, social class, category people (Crespi and et.al.,
2019). The product portfolio of company is such vast that it is allowing the organisation to
potentially approach the effective growth opportunities under the associated target market.
Company is offering its product line in such a way that either customer get to place thee
direct order from the existing product base available over the website of company or the
consumer can place the order in such a way that it get to convey its need and demand and based
on such description company will make product ready and delivered at the door step of

customers in market. Website of company also include a section where customer can place its
complaint regarding the product and service consume by the customer against the utilisation of
products offer by the Forester Flannels. IN order to gain success under the respective target
market it becomes important along with offering quality products and services to end customers
also to solve different issues and grievances customers are facing against exploring products and
services offer by business entity.
USP and competitor analysis
USP is denoted as the unique selling proposition. This is a factor that reflect why the
business idea offering by organisation is different from other existing entities conducting
practices in the same market. Forester Flannels is associated with the fashion retail sector that is
highly competitive due to massive demand of product in the market. AS the fashion retail
involve basic product require living like clothing range and footwear the product demand of the
sector is huge. Demand always attract to growth possibilities in the respective target market. The
business idea of the Forester Flannels is such that customers can buy products based on its
needs and demands (Chan and Marques, 2017). Company is offering its existing stock produced
as per trends and fashion to its customers that make customers more capable to buy the best
clothing and footwear products that can suit with the need and requirements of target customers
in market. Along with the existing product offering by company customised products are also
available where customers can place order as per the need and demand demoted through brief
description regarding products. On the basis of the requirements attached by customers product
is prepared by the Forester Flannels. Customised product supply is the USP for the Forester
Flannels. This will allow the business entity to engaged with potential customers in the
respective target market. USP always support the growth possibility of the business entity in
market.
Competitor analysis
Competition in the fashion retail sector is massive and huge. Demand if so aggressive
that could contribute in the overall competition level in market. The entire analysis of
competitor can be done in the following manner.
Product: Forester Flannels is offering both regular clothing and foot wear along with the
customised product line. The product segment of company offer the needs and requirements
belong to target customer base of all types of customer category all gender, economic class,

asexual orientation and all other social diversification. All the feature related to products of
company make the product portfolio vast as compare to any other brand like Marks and Spencer
and many other. USP of Forester Flannels is strong that allow the business entity gaining
competitive advantage in respective target market irrespective of the new brand portfolio.
Price: Management of the Forester Flannels is following competitive pricing strategy. This will
involve charging less than the key competitor in market like Marks and Spencer Company
which will allow the business entity to motivate growth of the business idea (Akter, 2019).
Marks and Spencer Company follow the practice of premium pricing whereas Forester Flannels
will follow competitive pricing that would allow the business entity to attract more number of
customers.
Place: Forester Flannels will be active only over social media platforms and internet. The
presence of company is certain that will allow the management to focus more over its customer
segment. ON the other hand Marks and Spencer Company is active over both the mode online
and offline that restrict the management to completely focused on the business in one single
direction.
Promotion: Forester Flannels will utilise promotional strategies such as social media, digital
promotions and such modern techniques. Marks and Spencer Company is more keen towards
traditional technique of promotion such as radio, television. The diversification in policies will
make the business entity to take competitive advantage against the other organisation.
Operation plan
Company has segregated its organisation structure into different teams. Each team will
handle the individual functional area such as marketing, sales, operations, human resources and
such other. Each team will be handled through a specific team of professionals. Individual
department head will associate with every single department in company. The proper hierarchy
will be maintained where employees will report to department head and the department superior
will report to the senior management or the board of director of Forester Flannels. Controlling
team will also hire that will overlook the effect of implementation strategies created during the
operation planning.
Risk and contingency plan
Risk event Response Contingency Trigger Who is

plan responsible
Interface
problems
Migrate test
prototype
Continuous
working till the
situation do not
get normal
(Belford, 2020).
Remain unsolved
in 24 hours
Technical staff
System freezing Mitigate test
prototype
Re install OS Remain frozen
after one hour
Technical team
User Backlash Migrate prototype
demonstration
Increase staff
support
Call from
superior authority
Technical
department
Sales and marketing strategy
For the business idea to be successful it is essential for the business that they effectively
make and design the marketing and sales strategy (Fauzi, 2021). This is particularly because of
the reason that when the business will have a focus on the good sales strategy then this will
increase the profitability of the company to a great extent. Hence, for this FORESTER
FLANNELS have to make the use of the following sales and marketing strategies-
Sales strategy
 The first sales strategy is to build effective relation with the potential consumers. This is
the major sales strategy as when the company will not be having good relation with the
consumers then this will affect the sales of the company. The reason underlying this fact
is that when the company will be having better and effective relation with potential
consumer then this will motivate them to buy the product and services of the company.
 In addition to this another sales strategy to be used by FORESTER FLANNELS is to
have time based deadlines for completing the work and producing the outfits. This is
particularly because of the reason that this will increase the attention of the consumer
towards the product and services of new business. The reason beneath this fact is that
when the work will be completed on time then the product and services will be provided
to consumer on time. Thus, this will be liked by the consumers and sales of the company
will increase.

 Along with this another sales strategy which will increase the sales of FORESTER
FLANNELS is that demonstrate expertise and credibility within the product and service.
This is necessary as with help of this feature the company can attract more of the
consumers and this will increase the sales of the company to a great extent.
Marketing strategies
The use of marketing strategies has a great impact over increasing the sales of the
company. This is pertaining to the reason that when the effective marketing is used then this will
increase the knowledge of the consumers relating to the product and services of the company
(Vaníčková, 2020). Hence, for this major marketing strategies assistive to FORESTER
FLANNELS is as follows-
The first and most common strategy is the use of the social media marketing as this is the
latest trend in the marketing of the product and service. For this FORESTER FLANNELS can
make use of Instagram stories to attract the consumer and increase the conversion rates. This is a
good strategy as with help of this the consumer will be attracted and will convert themselves as
consumer of FORESTER FLANNELS only and will not buy the product of any other company
(Weiss and et.al., 2020).
In addition to this, another strategy for the effective marketing of the product and
services of FORESTER FLANNELS is that they must keep the content of marketing very
simple and easy. This is particularly because of the reason that if the content of the
advertisement will be hard then this will be hard to be understand by the company.
Along with this, another marketing strategy useful for FORESTER FLANNELS is the
use of loyalty program for attracting more of the consumers. This is a good strategy as when the
consumer will be provided with different offers under the loyalty program then this will attract
majority of the consumers.
Finance and funding plan
Finance is the most essential aspect within the working of the company and for the
business to get successful. This is pertaining to the fact that when the company will not be
having effective access to finance then this will be having a great impact over the operations of
the company. hence, for this it is very essential that the business has appropriate fund which they
require to operate within the business. For starting a business, it is not necessary that the
business owner has all the required finance with them. Hence, for this they need to borrow the

money from some other sources. These sources which are available for funding of business are
as follows-
 Loan from banks and financial institution- this is a source of finance wherein
FORESTER FLANNELS can borrow money from the banks and other financial
institution. Under this method FORESTER FLANNELS had to keep some collaterals
with the bank and against that the loan is being provided to the company.
 Crowdfunding- this is another major type of source of finance from which FORESTER
FLANNELS can borrow finance for their business start- up. This crowdfunding is a
method wherein small amount of capital from large number of individual in order to
finance the new start- up (Seven ways to get start- up funding in the UK, 2021).
 Venture capital- this is another type of source of finance which can be used by
FORESTER FLANNELS in order to arrange for the finance. The venture capitalist is a
type of investor who are responsible for funding the all small start- ups which have a
high potential of growth and development in it. The present business idea of customize
cloth and footwear has high potential of growth and development.
Management team
The management of the business is also very necessary because of the reason that when
the management team will not be good then this will result in delay in operations of the
company (Barth, Lu and Sun, 2020). hence for this it is essential for FORESTER FLANNELS
that they must involve a good management team so that work can be managed in effective and
efficient manner. The management team of FORESTER FLANNELS is as follows-
Management role Number of employees Roles and responsibilities
Manager 2 The role of the manager
within FORESTER
FLANNELS is to
manage the overall
working of the company.
it is their responsibility
that they ensure that all
the planned working is
being taking place in the

same manner.
Finance manager 1 Main role of finance
manager of FORESTER
FLANNELS is to ensure
that all the finance is
being arranged and
allocated in proper and
effective manner. This is
necessary to ensure that
the business is able to
manage the finance in
effective manner.
Human resource manager 1 The major role of the
human resource
department within
FORESTER
FLANNELS is to ensure
that within the company
there is not any vacant
position. This is to
ensure that on every
position there is skilled
and capable employees
so that business
objectives can be
managed in effective and
efficient manner.
Marketing manager 2 This is the major role
behind the success of the
company. this is
particularly because of

the reason that when the
company be employing
good marketing strategy
then this will attract large
number of consumers.
Hence, the major role of
marketing manager of
FORESTER
FLANNELS is to
develop the marketing
strategies in such a
manner that it attracts
large number of
consumers.
Designer 4 These are the most
important people within
the management of
FORESTER
FLANNELS business.
this is particularly
because of the reason
that is the designer will
not be present then this
will not result in
effective options for the
consumers. The major
reason pertaining to this
fact is that when the
designer will be good
then they will design
better and effective

product and this will
attract majority of the
consumers.
Hence, in the end it can be stated that the selection of the effective management team
then this will assist FORESTER FLANNELS in managing the business in good and effective
manner. For this selection of the right candidate at the right position is very essential and this is
the responsibility of the HR of FORESTER FLANNELS company.
CONCLUSION
Business plan is all about a idea of business involve planning, implementation and
controlling regarding different strategies developed to achieve success in respective target
market. Business plan is full of strategic direction that can favour the business entity to guide in
a right direction where company can reach its business objectives. Company is offering
customised products that is the USP of the business entity.
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