Foundation Business Essentials Report

This report presents a detailed business plan for "Printing Destination", a t-shirt printing shop targeting university students. It covers the business idea, objectives, PESTLE analysis, launch event plan, budget, and marketing strategies. The report also discusses the most suitable form of ownership and analyzes the competitive landscape.

Foundation business essentials

Table of Contents
INTRODUCTION..........................................................................................................................1
TASK 1............................................................................................................................................1
PART A- Business idea..............................................................................................................1
PART B – Four most important objectives of “Printing Destination”........................................3
Form of ownership is the most suitable for Printing Destination...............................................4
TASK 2............................................................................................................................................4
PESTLE analysis.........................................................................................................................4
TASK 3............................................................................................................................................6
PART A - Write a statement that describes the launch event ....................................................6
PART B – Producing a Budget...................................................................................................7
TASK 4............................................................................................................................................8
Marketing objectives...................................................................................................................8
Target markets.............................................................................................................................8
Marketing mix.............................................................................................................................8
Marketing strategies for market segmentation............................................................................9
Conclusion.....................................................................................................................................10
References......................................................................................................................................11

INTRODUCTION
A business idea is a concept that is used by individuals for financial gain that is usually
centred on a product or service which are offered for money. The current business idea for this
report is “Printing Destination”. It is basically a t-shirt printing shop which will target students at
universities. The report will cover objectives of this business, its PESTLE analysis. Apart from
this it will present budget and marketing mix.
TASK 1
PART A- Business idea
The current business idea is printing t-shirts for students in a university. The name of the
shop is,“Printing Destination”, it is both online and street based. The shop is located near
University of Oxford, which is in the UK. As there are lot of students who love wearing
graphical printed t-shirts, so it is the best business idea to set up targeting them. Many people
thing to go to printing press and all sorts of printing supplies but “Printing Destination” has its
own equipments and is getting wide range of orders for t-shirts. The business provide Screen
Printing and Transfer Paper Method, both these techniques are used to print t-shirts (Godlinski,
Zichner and Baumann, 2017). Screen printing is most preferred method used nowadays. It
requires a template, which is then held in place by the screen & it is usually made from nylon
mesh. It provides supreme quality and can print in multiple colours. Another method i.e. transfer
paper method, refers to transferring of an image from one surface to another. Basically the
design is printed on a transfer paper and using heat press machine it gets transfer to clothes.
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This business is a good idea because t-shirt is a basic in casual wear and it has been
accepted universally by both men & women. They are not only considered as casual wear, but
are blank Canvas for artists and entrepreneurs (Hyun, Secor and Francis, 2015.). Due to this,
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Illustration 2: Heat Transfer Printing Tool
Source : Lazazzera, (2018)
Illustration 1: Screen Printing
Source : Lazazzera, (2018)

selling printed t-shirts has become very popular. Students from today's generation love buying
graphic & slogan printed tees that reflect their opinions. Hence, this is the best business idea
because the brand promises that it will provide wide range choices for students including
designs, quality & niche.
Competitors Reason
1. Banana Moon Clothing They use Digital Inkjet printing, which has
huge range of colour options, low investment
and easy tailoring & customization.
2. Garment Printing They offer embroidery t-shirts with
competitive prices. It has metallic finishing
options, and embroider up to 15 colours.
3. T-shirts Printing London They use Direct To Garment technique which
offers full colour printing, low cost per item
printing and professional finish.
PART B – Four most important objectives of “Printing Destination”.
The objectives of “Printing Destination” are:
1. To offer more to customers :- its first objective is to offer more choices to customers. The
bran offers more to students to show loyalty. They also provide tailoring, special combos,
occasion based printing and complimentary gift wrapping. This will build a good rapport
with the customers specially students. Customers are top priority and providing them
satisfaction with maximum choices is a major objective. Because, it has been seen that
happy customers provide positive feedback, spread good image of brand and have more
chances of repeated sales (Song, Yang and Shelmidine, International Paper Co, 2018).
2. To maintain profit :- maintaining profit is one of the most critical business objective. This
happens when company's revenue exceeds its costs. It is determined that maintaining
profit means ensuring that revenue stays ahead of the costs.
3. To offer the best quality :- the brand objective is to provide the best quality t-shirts to its
customers by using high quality methods and tools for printing. It is determined that
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quality is predominant to this brand and its success. It affects customers decision
regarding product and repurchase in the long term. Quality is in terms of size, softness,
material and weight.
4. The last main objective of Printing Destination is to offer the finest in custom t-shirts
modification production. Offering the best product at the best price to exceed customer's
expectations.
Form of ownership is the most suitable for Printing Destination
The best suitable forms of ownership for this is both sole proprietorship and limited
liability company. At it is a newly introduced business idea, sole trader will suit much better. It
can be own and manage by single person. It is determined as the simplest form of business
structure in the UK law. Examples to support this:-
 Easy to form :- the most significant benefits of sole proprietorship is it does not require
much to do to get established. As Printing Destination, is the newly launched brand
specifically targeting students, it is best to go for sole trader. It is determined that if
condition changes, it is easy to change the legal structure of the company (Woodruff, J
2018).
 Owner has complete control :- under sole proprietorship, there is a single owner and he
controls everything that goes on in the business. Proprietor is considered as the only
decision maker of that company, he hires and fires company's employees.
TASK 2
PESTLE analysis
In order to establish new operations and functions in UK, it can be stated that Printing
Destination need to know about policies and regulations. With the help of this tool, business can
plan effectively and make external changes as per demand and considered tactical decisions
internally. Following elements in this perspective implement at workplace: Political factor: Political factors consist large impact on new business operations of UK.
In this regard, changes and reforms of licensing laws develop with government policy.
Relaxation of opening hours assists to Printing Destination to increase their significant
advantages. National minimum wages also increases that affect to salaries and wages. EU
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influence with national government guidelines for health. Local and National government
concern also consist regulations which must follow by new business (Zalengera,
Blanchard and Gondwe, 2014). Economical factor: Economic factor also create impact on the results of the business. In
this regard, national and international economic downturn means that people are
generally dispose income for socialising. Cut price offers for supermarket promotions so
that Printing Destination consider their promotion easily. However, in UK increasing
transport costs in line with fuel pricing create negative impact on results. Social factor: Culture of the market also create impact on overall results and outcomes of
Printing Destination. This is because, Printing Destination mainly target students so that
they need to focus on socialise. Demographically it is also increased students population.
Media concern helps to increase awareness towards health consideration. With the help
of increasing advertisement helps to develop significant advantages in new business.
Apart from this, new business also provide opportunity of wider choice to students. Technological factor: Technological element also consist development in delivery of
printing shirt. Wider range of products and services assists to encourage several students
at workplace. With the help of technological advancement, Printing Destination has
opportunity to promote their new products with multi media, website, social networking,
etc. Advertisement consider main role which increase awareness with mainstream media.
The selected new business has also opportunity to use multi media and develop
advertisement in successful manner (Zahari and Romli, 2018). Legal factor: Legal factors also create major impact on the operations and functions of
Printing Destination. In UK, students are targeted by the organisation with stronger
enforcement of regulations in local and national level. Furthermore, changes in laws
impact on the results to operate functions and operations. EU always measures legislation
and policies that are implemented to take appropriate functioning. On the basis of rules
and regulation, it can be stated that Printing Destination get maximum students' attraction
successfully.
 Environmental factor: Environmental factors also create impact on the results in positive
perspective. This is because, recycling is one of the greater advantage which used to
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reduce wastage of material. Printing Destination has another several advantages in term
of refuse produced in local areas. Transportation and delivery of cost of goods assists to
increase positive advantages in successful way. With the help of effective consideration,
it can be stated that the chosen enterprise must focus on their work to attract maximum
students.
TASK 3
PART A - Write a statement that describes the launch event
Printing Destination is launching an event for university students as it is essential to
promote its existence. The event is designed to achieve company's purpose of creating awareness
and publicity for its brand. It is basically meant to generate a lot of buzz about the brand. Its
main aim is to build sales of the product. As it is a start-up company, it has to launch within the
limits of funds available. The company will invite university students, media, and I will be a
grand celebrity opening. Some fans are so crazy about their favourite celebrities that they would
love to wear any brand the celebrity supports. The launch will be held on 15th September 2018, at
evening 7 p.m. and its venue is located near University of Oxford, UK. There will be recorded
music to entertain and attract audience and also serve food and beverages to make them feel
comfortable. The theme of the event will be according to business and interest of the target
audience (Guinot, Evans and Badar, 2016).
The event will mainly focus on promoting the brand image rather than food and
beverages. It will spend money on the celebrity which is going to be invited because they have a
huge fan base and are known to be fashionable. As, Printing Destination is a t-shirt printing
company, it necessary to promote it with right celebrity endorsement. The company can ask them
to wear its t-shirt and tweet about it. They will also offer attractive discounts or free items for
specific level of purchase at the launch party.
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PART B – Producing a Budget
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Illustration 3: Event Budget

TASK 4
Marketing objectives
There are many strategies to boost Printing Destination in the market. The company will
conduct a market research to know their customer's needs. This will help them to identify which
designs and prints students as well as other customer prefer. Secondly, it will create an online
presence as internet is the trendy marketing tool to expand business. They can mention all the
details regarding their company and post it on their website. At it is a newly launched business,
the company may offer discounts to make them visit the store again. The key brand message for
customers is that the company provides superior quality T-shirts because its main purpose is to
satisfy customer satisfaction (Lee, Kozlenkova and Palmatier, 2015).
Target markets
Printing Destination target markets are:
 Psycho-graphical:- it is the division of market on the basis of customer's attitude,
personality, lifestyle and hobbies. Students attitude and lifestyle plays an important role
in their buying decision. Printing Destination modify their printing strategies to match
customer's lifestyle and opinions.
 Demographic :- it targets customers on the basis of their age, gender, income, occupation
and education. Printing Destination target its buyers on the basis of age and gender. It
offers printing t-shirts to university students which are youngsters. Their aim is to
concentrate on students with their trendy new designing t-shirts. They promote their
brand in universities.
Marketing mix
Element Description Justification
Product It is the first P's of marketing
mix. The product in terms of t-
shirt printing business refers to
all the elements that are used
in making the end product. It
Printing Destination mainly
focuses on designing and
quality of t-shirts because
nowadays it has been seen that
customers prefer the best
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includes its design, quality,
branding & value.
quality product.
Price Price of a product based on its
cost of production.
Printing Destination offers
high quality material and
machines for printing. Due to
this it offers higher prices.
Customers like when product
price matches its features.
Place Place of positioning the
product should be such that is
easily available to the target
market.
Printing Destination sells its
products near universities
targeting students as well as
online through internet.
Promotion It refers to the way of
communicating to customers.
The company can do this by
using different marketing
strategies such as advertising.
Research shows that,
customers are more likely to
attract to brand when they see
it on television.
Marketing strategies for market segmentation
Marketing strategies for demographic based customers will be:
 Online marketing :- Printing Destination must offer new and trendy printing designs on
internet in order to attract more young age generation and keep themselves ahead of their
competitors (Lipizzi, Iandoli and Marquez, 2015).
 Sales and events :- special events are considered as opportunities to draw attention of
customers directly & face to face. New generation students are always interested in
something new and unique. Events could help 'Printing Destination' to promote their
brand.
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 Outdoor advertising :- the company can prefer promoting its brand through hoardings, or
by pasting posters in buses, taxis and trains. Large billboards can spread their message
across with a big impact.
Conclusion
The report concluded that, A business idea is a concept that is used by individuals for
financial gain that is usually centred on a product or service which are offered for money. The
current business idea for this report is printing t-shirts for students in a university. The name of
the shop is,“Printing Destination”, it is both online and street based. Apart from this it stated that,
Printing Destination launch event is designed to achieve company's purpose of creating
awareness and publicity for its brand and its overall calculate budget is £14650.
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References
Books & Journals
Godlinski, D., Zichner, R., and Baumann, R. R., 2017. Printing technologies for the
manufacturing of passive microwave components: antennas. Screen printing. 5. pp.8.
Hyun, W. J., Secor, E. B., and Francis, L. F., 2015. High‐resolution patterning of graphene by
screen printing with a silicon stencil for highly flexible printed electronics. Advanced
Materials. 27(1). pp.109-115.
Song, J. C., Yang, S., and Shelmidine, D. B., International Paper Co, 2018. Paper substrate
having enhanced print density. U.S. Patent Application 10/036,123.
Zalengera, C., Blanchard, R. E., and Gondwe, K. T., 2014. Overview of the Malawi energy
situation and A PESTLE analysis for sustainable development of renewable
energy. Renewable and Sustainable Energy Reviews. 38. pp.335-347.
Zahari, A. R. and Romli, F. I., 2018. Analysis of suborbital flight operation using
PESTLE. Journal of Atmospheric and Solar-Terrestrial Physics.
Lee, J. Y., Kozlenkova, I. V. and Palmatier, R. W., 2015. Structural marketing: Using
organizational structure to achieve marketing objectives. Journal of the Academy of
Marketing Science. 43(1). pp.73-99.
Lipizzi, C., Iandoli, L. and Marquez, J. E. R., 2015. Extracting and evaluating conversational
patterns in social media: A socio-semantic analysis of customers’ reactions to the launch of
new products using Twitter streams. International Journal of Information
Management. 35(4). pp.490-503.
Guinot, J., Evans, D. and Badar, M. A., 2016. Cost of quality consideration following product
launch in a present worth assessment. International Journal of Quality & Reliability
Management. 33(3). pp.399-413.
Online
Woodruff, J., 2018. Five Advantages of Sole Proprietorship. [Online] Available through:
<https://smallbusiness.chron.com/five-advantages-sole-proprietorship-22896.html>.
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Lazazzera, R., 2018. [Online] Available through: <https://www.shopify.com/blog/14515425-
how-to-start-an-online-t-shirt-business-the-ultimate-guide>.
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