Feasible Study of a New Footwear Business Start-up: Business Plan

BUSINESS PLAN

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK...............................................................................................................................................3
Presentation of feasible study of a new business start-up with the support of relevant
conceptual models, critically analyse the views which entrepreneurs are the engines of
innovation and creativity.............................................................................................................3
Present STP analysis and competitive study to investigate the opportunity gap in the
marketplace for supporting this analysis with supported data drawn from extensive market
research.......................................................................................................................................4
Prepare a Porter's value chain and Osterwalder’s Business model canvas, draw proposed
business model and explain how and why start-up would operate its functions........................6
Evaluation of marketing strategies which is apply by the entrepreneur to achieve success. Also
discuss various errors which make by entrepreneur and analyse strategies that used to provide
growth, consolidation and underperformance.............................................................................9
Entrepreneur using various financial tools, models and decision making techniques to assess
and justify the risks ..................................................................................................................10
CONCLUSION .............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
In this report company discuss about the business plan which is mainly related the
footwear company and established in UK country with the name of “Footprints”. They came into
the existence with the main objective to increase demand of the product and want to increase the
trafficking of customer. They provide best quality product to their consumer. They mainly
analyse the new innovation and Creation Company perform to increase the sales of the firm. In
another part it analyse the competitive and STP framework of the company to identify the
opportunity gap in the market economy (Jehanzeb, 2019). After wards they draw the
Osterwalder's company model canvas and porter's five forces model of the business and also it
explain how and why they think the about the working of new venture. Apart from this it
describe the marketing plans that proprietor implement and the mistake they do first-time in their
business it also explain the plans for development, consolidation and underperformance. At last
it examine the financial methods, planning equipment and models of decision-making that
company use to reduce the firm risk.
TASK
Presentation of feasible study of a new business start-up with the support of relevant conceptual
models, critically analyse the views which entrepreneurs are the engines of innovation and
creativity.
In the past few years, the footwear market has come out as a unique and specialised
industry which made-up on style (Shields, 2018). This report is considered the idea of new start-
up which is a footwear business named as Foot prints. The business will be located at UK and its
main objective is serve quality product and services to the people. This firm’s focus to provide
footwear to every age group people. The main intension of the business is to cover almost 70%
of the market share and become a central hub of shopping events for the local population and for
those who would enjoy wearing the new trends and styles. The company focuses on the adult
generation because youth is attractive toward style and fashion. The business is situated in the
heart of London market which provides opportunity for the firm. Company intention is to
improve the standard in the society, by promoting reusable and renewable resources which is
used in th product. Company uses various techniques to provide best possible consumer
satisfaction. Innovation and creativity leads business to the success, both the objective help a

firm to develop new and advance product which satisfy the needs of the consumers. Company
uses reusable material which is an innovation that helps to reduce the pollution in the society.
There are several strategies for a footwear firm to attract more consumers and keep them
engaged for longer periods of time, including:
 Examining the marketplaces: Marketplaces provide entrepreneurs with new chances to
develop on a broader scale. It is vital for any firm to recognise that developing a business
strategy in the economy will be profitable and successful. It examines the market's size,
both in terms of volume and value, as well as the various consumer categories and buying
behaviours, competition, and the economic climate in terms of entry obstacles and
regulation. It would be beneficial to study rivals who might present a risk to the firm and
look for measures to mitigate the impact (Hamilton, 2018).
 Recognizing the tastes and preferences of consumers: Consumer preferences and tastes
are important determinants of commercial product buying choices. Recognizing this
aspect is likely one of the main reasons why entrepreneurs are more interested in
watching and assessing consumer opinions about their goods. Whether a company sells a
product or provides a service, knowing the preferences of its customers is critical. This is
due to the fact that a company's success is determined by its clients.
 Keeping up with current environmental developments is essential: It refers to being
informed about the current trends that people in the surroundings are following and
choosing. IT also offers a notion of what may be done to serve the public in the most
efficient way possible. It explains the product selection, desired and chosen colours, peak
shopping hours, and which footwear is favoured over others. new and creative products
that follow the current trend in the environment (Молчанова, 2020).
Present STP analysis and competitive study to investigate the opportunity gap in the marketplace
for supporting this analysis with supported data drawn from extensive market research.
Foot prints market analysis
The business plan focuses on the competitive market in the United Kingdom, which will
first analyse consumer needs and desires. As a result, it would aid in the placement and
introduction of new and innovative items into the marketplace. There are a variety of
methodologies that may be used in competitive analysis, including: