Business Plan for Quick Dry Shoes

The business plan outlines the idea of developing quick dry shoes that use innovative technology to evaporate water quickly. The shoes will be made from recycled fabrics and will cater to athletes and travel enthusiasts. The plan includes details on the target market, competitive advantage, marketing strategy, and cash flow forecast. The business will require a seed capital of £30,000 and partner investment of £5,000. The plan also includes a SWOT analysis of two key competitors and a marketing mix strategy.

Insert Business Name
Delete cover page where appropriate
Insert graphic or logo
Insert ID number

Section One A
Scenario: A: B:
Business Overview (approx.250 words)
1.1 Business summary: Please write business outline. (who, what, where, When and how)
The mentioned business will serve the rapid dry shoes to all the travel enthusiast as well as athlete.
The mentioned shoes have the features in quick dry technology that evaporate the water quickly. In
addition to this the respected company will distribute its product to its customer through e-commerce and
offline stores in London.
1.2 Describe your core product or service:
The business idea is to develop a quick dry shoes That can use a technology through
which it can evaporate all the water from the shoes rapidly. Moreover the shoes will also
use technological chip that maintain the temperature according to the environment. In
addition to this all the material that used in the development of shoes is made from
recycle fabrics.
1.3 Your immediate and future business aims:
 One of the foremost aim is 2 cater all the athletes and travel enthusiast towards the shoes
 To bring innovation to every athlete and individual who loves to travel
1.4 Please state the amount of seed capital required and partner investment :
(Up to a maximum of £40,000 – see ‘Assignment Scenarios’ doc. for
clarification)
By the use of government loan around £30000 is required to perform the business functions. The respected loan
is taken for the 15 years of tenure with the interest rate of 7%. moreover the mentioned start-up will be run by 2
partners which will invest of £5000 in the venture.

Section One B
Management structure. (approx.250 words)
1.5b Professional team skills: (Outline individual team members transferrable and
professional skills as per your current CVs only).
 Problem solving- one of the major requirement of skills which is needed in the
mentioned company operations is regard to the problem skills. As it assist in
performing the more effective functions during the complex situation.
 creative thinking- it facilitate in getting the new and innovative ideas to perform
effective functions.
 Communication- The mentioned skills helps in manipulating the competitors
customer towards the mentioned business
1.6b Each team member’s roles and responsibilities:
Team leader
 ensure smooth and effective functioning of the business functions.
 Derived new changes according to the business plan.
Marketing
 focuses on marketing the product In the vast number of customer.
 Developed more effective content to advertise of various number marketing
channels.
1.7b. Identify your company’s skill gaps, then chose one role and create a
legal advert with the skills required and their roles and responsibilities.
one of the major skill that the mentioned company need to adhere is regard to the team collaboration.

Section Two A
The market/customer profile. (approx..250 words)
2.1a Describe your target market profile and where are your proposed
customers based:
Geographic UK
Demographic Age- all age group
Gender- male, female
Psycho graphic Interest- sports and travelling, technology enthusiasts
Activities- sports activities, traveller
Socio-economic Income-middle income to high income individual
Occupation- sports person, working class
Benefits Consumer needs- fulfil the issue of customer regard
to the wet shoes
In order to cater the above target market profile the mentioned company will use the
premium pricing strategy in order to cater the above segmented market. In addition to
this the the business carefully analysed the market practices and their demands. Hands
to the mentioned shoes have the respected business will fulfil the customer demand
which wants the technological based shoes.
2.2a Describe your perceived competitive advantage/USP:
Perceived Competitive advantage
One of the major advantage of the mentioned business idea is that the developed
product can easily make the demand in the market as it used the new technology
through which customer can take various benefits such as can dry their wet shoes in just
5 minutes through the impressive drying technology which evaporates all the water from
the shoes. In addition to this the mentioned business also using the effective
technological chip which analyse the individual activities and collect all the intrinsic data
in regard to their activities. Moreover the mentioned shoes also maintain the body
temperature according to the outer environment suitability(Barrow, C., Barrow, P. and Brown, R.,
2018.

Section TWO B
Marketing (approx.300 words)
2.3b Explain your market research with references,
The smart shoes market will be hit 285.1 million U.S. dollar by the 2028. The the
growth of the mentioned market is increased by 9.2% CA GR. This it is clearly showing
that the digitalization yes making their demands in the UK market. As smart shoes give
precise calculation of all the calories burn and the step taken by an individual. Yes after
the pandemic vast number of customers are shifting towards healthy lifestyles.
In regard to the mentioned research it is clearly stated that the mentioned startup
can attract the customer towards the mentioned shoes. As it provides the human
activities data as well as also offers the quick dry technology which can be helpful in
quick drying the shoes as well as could be used in getting realistic data.
2.4b Competitor analysis
(Based on your market research, analyse two key competitors and explain how
your business will compete with them) (You may consider a SWOT here)
Strength
• New concept The mentioned business idea Is
new as well as solving The main issues Of individuals
Who faces problem during their travelling in regard to
the Wet shoes
• Research And development The
mentioned start-up has a Effective Team
members which analysed the marketing a
detailed manner
Weaknesses
 Lack of experience One of the major issues
that can be faced during Performing the
function in the mentioned business Is due to
lack of experience . It could be possible That in
certain situation Business Can face issues Due
to lack of Experiences and knowledge
 Compact rangeAs the mentioned
businessOnly have Low variety of
selection For the customers Which
could be Become And weaknesses
opportunity
 Increase product range The respected
business can enhance its product range by
providing Colour options As well as More
intensive technological shoes In order to
cater Newmarket segment
Threat
 Competitors Nike and to mark
could be the main competitor for
the mentioned company As the
have the strong Personalised
feedback team which gather all the
information of their Customers And
use these information in developing
Of more intensive shoes .
In regard to the above discussion, to perform more effectively in the competitive
market the mentioned business has planned to chittor the market through effective
marketing planning. When addition to this by sponsoring athletes and influencer can
assist the organization in order to cater the customer towards the product. In addition to
this the mentioned business will also deploy lower price then its competitors which could
assist the mentioned business in road to perform effectively.

2.5b Marketing strategy
(describe your marketing strategy, with reference to researched materials.
Identify the most appropriate strategies, (You may consider a 4 or 7ps etc. )
Marketing mix
Marketing mix please one of the for most important role for the businesses in road to identify the effectiveness
of strategies And development of tactics through which companies can perform effectively in the operational
market.
Product the mentioned business have developed and effective technology intensive shoes which provide
accurate information of human activities such as body temperature, calories burn as well as maintain the body
temperature. In addition to this it will also evaporate the water rapidly in order to provide unforgettable
experience.
Price- The respected business will use the premium pricing in order to cater the market. In addition to this the
mentioned business will also use the competitive pricing in its initial stage to manipulate its competitor market
Place- The respective business has planned to sell its shoes from e-commerce website as well as through highly
design premium stores.
Promotion- The mentioned business have planned to use the social media marketing channels in order to cater
the large number of audiences towards there develop shoes. The main aim of the business is to target
sportsperson and traveller towards their shoes. Hence, through the use of Google analytical tools various
information will be collect according to the customer needs. These information further will be deployed in
order to develop more effective products and marketing them through video content (Moro Visconti, R., 2019).

Section Three A
Operations and logistics (approx.150 words)
3.1a Premises and location.:
The store will be opened in the side market of London on theground floor of KMGs Square which is a
commercial apartment.
3.2 Equipment & Set up Costs and suppliers:
3.2a Transport needs:
the mentioned business will follow the effective supply chain management in which all the transportion will be
perfromed thorough trucks.
3.2a Legal requirements:
the emtioned business will follow the partnersip deed in the opertional functions
3.2a Insurance requirements:
employee insurance as well as other uncertainty insurance.
3.2a Other required Certifications:
the certificate from legal legislation in regard to the authenticity of product.
3.3 Fixed monthly Costs as per cash flow:

Section Three B
Costs and pricing strategy (approx.150 words)
3.4b Your Pricing Strategy:
Section Three C
Cash Flow forecasts (approx.150 words)

3.5c Realistic cash flow Sales and costs forecast, including next 3 years’ projections, assuming you’ve received the start-up fund’s
you’ve requested. (Please edit to suit your need)

Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Total
CASH IN:
Sales 3060 13590 14526 14256 15485 15625 16547 15012 14562 15268 15425 15478 168834
Loan 30000 Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil 30000
Owner’s money 10000 Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil 10000
Other
investment Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil 0
Total Cash In 43060 13590 14526 14256 15485 15625 16547 15012 14562 15268 15425 15478 208834
CASH OUT:
Set-up Costs
(per 3.2) 20750 Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil 20750
Variable Costs:
Materials. 1204 1265 1352 1345 1256 1456 1200 1452 1236 985 745 689 14185
Direct labour 368 369 369 369 368 412 412 413 413 412 413 413 4731
Fixed Costs:
Salaries 4500 4500 4500 4500 4500 4500 4500 4600 4600 4600 4600 4650 54550
Rent. 3100 3100 3100 3100 3100 3100 3100 3100 3100 3100 3100 3100 37200
Rates NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL 0
Staff Wages. NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL 0
Utilities/Gas/Ele
c 245 245 245 245 245 245 245 245 260 260 260 260 3000
Phones. 37 40 41 39 41 44 38 37 40 40 43 44 484
Freight &
Postage 42 46 56 25 65 45 78 52 65 98 74 45 691
Stationary. NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL 0
Promotion &
Ad. 452 462 462 452 462 452 462 462 451 425 425 489 5456
Website. 412 59 59 59 59 59 59 59 59 59 59 59 1061
Accountant 150 150 150 150 150 150 156 156 156 156 156 156 1836
Legal 200 NIL NIL NIL NIL NIL 215 NIL NIL NIL NIL NIL 415
Transport 250 256 254 256 251 253 265 262 245 262 252 242 3048
Vehicles 125 125 154 156 159 158 160 162 154 165 165 167 1850
Insurance 365 NIL NIL NIL NIL NIL 365 NIL NIL NIL NIL NIL 730
Maintenance NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL 0
Computers. 304 14 17 14 15 18 19 17 15 15 14 15 477
Misc. 14 14 15 16 17 18 15 14 15 14 15 15 182
Loan
repayment. NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL 0
Interest on loan. 1500 1500 1500 1500 1500 1500 1500 1500 1500 1500 1500 1500 18000

Year 1 Year 2 Year 3
CASH IN:
Sales 185717.4 204289.1 224718.1
Loan 30000 30000 30000
Owner’s money 10000 10000 10000
Other investment 0 0 0
Total Cash In 229717.4 252689.1 277958.1
CASH OUT:
Set-up Costs (per 3.2) 20750 20750 20750
Variable Costs:
Materials. 15603.5 17163.85 18880.24
Direct labour 5204.1 5724.51 6296.961
Fixed Costs:
Salaries 60005 66005.5 72606.05
Rent. 40920 45012 49513.2
Utilities/Gas/Elec 3300 3630 3993
Phones. 532.4 585.64 644.204
Freight & Postage 760.1 836.11 919.721
Promotion & Ad. 6001.6 6601.76 7261.936
Website. 1167.1 1283.81 1412.191
Accountant 2019.6 2221.56 2443.716
Legal 456.5 502.15 552.365
Transport 3352.8 3688.08 4056.888

Vehicles 2035 2238.5 2462.35
Insurance 803 883.3 971.63
Computers. 524.7 577.17 634.887
Misc. 200.2 220.22 242.242
Loan repayment. 0 0 0
Interest on loan. 18000 18000 18000
Total Cash Out 185510.6 204061.7 224467.8
Net Cash In/(Out) 44206.8 48627.48 53490.23
Opening cash balance 55206.8 60727.48 66800.23
Closing cash balance 99413.6 109355 120290.5

References
Moro Visconti, R., 2019. How to prepare a business plan with excel. Available at SSRN 2039748.
Barrow, C., Barrow, P. and Brown, R., 2018. The Business Plan Workbook: A Step-By-Step Guide to Creating and
Developing a Successful Business. Kogan Page Publishers.
)

Appendix