Market Research and Investment Plan for Stain-Free and Printed T-Shirts
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Added on 2023/01/17
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This presentation discusses the market research and investment plan for launching stain-free and printed t-shirts. It covers the product outline, statistical data, market research, business plan, and investment plan.
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TABLE OF CONTENT INTRODUCTION...........................................................................................................................1 PRODUCT OUTLINE....................................................................................................................1 STATISTICAL DATA...................................................................................................................1 MARKET RESEARH AND BUSINESS PLAN............................................................................2 INVESTMENT PLAN....................................................................................................................3 CONCLUSION...............................................................................................................................4 REFERENCES...............................................................................................................................5
INTRODUCTION A new start up “Your choice” is going to launch new stain free and printed t-shirts, especially for the children and elder people. The product has great potential for success and thus require proper investment and planning. The presentation will discuss the market research and investment plan for the proposed product so that its sales and profitability can be predicted. PRODUCT OUTLINE The printed and stain free t-shirts will allow people to have customised t-shirts. The printed ones will give products as per the personalised choice of people while stain free t-shirts are of great use especially for avoiding long lasting t-shirts. From long term people have to discard their new t-shirts just because of small stains. However this new product will eliminate such issues. The computer sublimation will give opportunity to customers to have prints which they like in their favourite colour, sleeves and t-shirt pattern(Chambers and Humble, 2017). Ranging from the fabric to colour and graphic of t-shirt all choices will be made by customers without any fear of stains as well. The product will use Hewlett Packard printer division for providing high resolution, low price and high qualify t-shirts. Special fabric will not allow stains to hold place and thus guardians will be relaxed even if food or beverages are spilled on t-shirt. The competitive advantage will be provided by leveraging cutting edge technique and best quality services at low prices. Contrary to the existing and limited service providers quick turn around times will also help in meeting the expectations of customers. Thus it is required that proper control and financial analysis is required for quality services. STATISTICAL DATA The sales forecast depends upon market survey as well as other feasibility studies. The clothing trends are also influenced by seasonal aspect thus sales may also vary accordingly. The t-shirts will be launched in summer so that sales target can be meet easily. In the first year the expected sale amount is£200,000 which will grow to £800,000 in the second year. In the first three months the operational costs may act as challenge and profitability may not observed. In the first three months the operational cost is expected to be very high and thus operational cost will be £45,000. Though in the first year the operational cost is higher but in next five years the product will gain popularity among customers. When product quality is good and customers will came to 1
know the brand name then it will be easy for the organization to minimize its operational expenses such as those in marketing(McKeever, 2016). Thus it will result in increased profitability. At present though there are choices for customized printed t-shirts but their prices are quire high. Further they does not provide the wide range of size and design which is one of the additional service benefit for'Your choice'. The product supplied by the organization are quite common and in great demand particularly for the children or elders who have repeated incidences of food spilling. The stain free t-shirts will provide comfort and easiness to wash and maintain. Thus their sales projection will increase at rate of 50% per year. Though season variations can lower this growth and sales projection can reduced but organization can improve the fabric material as per the seasonal requirement and can overcome the challenges. MARKET RESEARH AND BUSINESS PLAN Business plan: The creativity and fashion industry shares strong bond and experience competition from both national as well as international brands. The technological integration for producing stain free and customized printable t-shirts consist of huge opportunities of success. 'Your choice' will be based in London which is fashion hub all around the world. A large warehouse will be taken on rent for the production factory with the help of financial support from loan. High quality t-shirts will be manufactured for children and elders in all sizes and will target low income customers. Apart from the general requirements, customized printed t-shirts will also be used by sports clubs, organizations, schools and political parties. Ownership and vision: The company will have private ownership and will recruit talented fashion designers who have fashion degrees from well known fashion institutions. The aim of 'Your choice' is to establish a brand name in customized t-shirts not only in UK but also at global level. Business structure: Initially the size of company is small but in future it will grow as leading fashion brand. A profit sharing agreement will be made with all board members and it will depend upon performance of first 5 years. The organization will have qualified team members in its team structure ranging from CEO, general manager, HRmanager, sales and marketing executives, fashion designers, factory workers and tailors and quality control along with accountants. Internal and external analysis: 2
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'Your choice' will produce t-shirts for all sizes and gender groups. The creativity in printing and stain free feature along with high quality supply chain is one of the key strengths of the organisation. However the limited financial capacity and lack of experience is one of the weakness which can influence the goal achievement(Burns and Dewhurst, 2016). In future organisation can have huge growth opportunities to expand its business to future. Economic downtrend and rapid changes in fashion design senses will serve as the biggest threat for the organisation. For retaining the competitive advantage 'Your choice' will require to analyse the choices and taste of its European target market. It will require to adopt intensive marketing strategies such as social media, local and direct marketing so that target audience can be reached easily (Dale, 2019). The organisation will assure the lower prices and quick delivery of services to its clients so that customer base can be build rapidly and for long term. INVESTMENT PLAN The investment will be made for operational activities related to start up and for the marketing activities. Investment aspectInvestment cost Legal requirements£2300 Rent£15000 Equipment and raw material£20000 Supplier cost£6000 Start up inventory£5000 Marketing and promotion£1700 Total Start up expenses and assets£50,000 For initiating the business legal registration of firm is required which will typically cost £2300 in UK. Since the initial production will begin at location on rent so a considerable investment is also made in rent so that sufficient space is available for production and supply. Start up inventory cost will include payroll system, human resources, printing machines, fabric 3
and other raw material required for t-shirts. The quality services can be provided to the customers only if timely delivery of product is ensured. For this purpose highly efficient supply chain will also be required for the product. Due to this reason a good amount of £6000 is invested in investment cost. The marketing is considered as one of the most important area of investment as it will help to reach the target customer segment(Hopp and Greene, 2018). For reaching the customers 'Your choice' will use variety of marketing approaches as content media, local marketing, social media aswell as national marketing. The image shows the estimated cost of each marketing operations in£. CONCLUSION It can be concluded that the proposed idea for 'Your choice' is highly productive and investable. Its expected return of investment are quite attractive for the organisation. It has been also analysed that suggested investment in product launch, operations and marketing will help organisation to achieve desired profits and goals. 4
REFERENCES Books and Journals Chambers, I. and Humble, J., 2017.Developing a Plan for the Planet: A Business Plan for Sustainable Living. Routledge. McKeever, M., 2016.How to write a business plan. Nolo. Burns,P.andDewhurst,J.eds.,2016.Smallbusinessandentrepreneurship.Macmillan International Higher Education. Dale, B., 2019. One Shot Pub: A Business Plan. Hopp, C. and Greene, F.J., 2018. In pursuit of time: Business plan sequencing, duration and intraentrainment effects on new venture viability.Journal of Management Studies.55(2). pp.320-351. 5