Foundation Degree in Business & Management: Right Choice Company Plan

This report presents a comprehensive business plan for the 'Right Choice Company,' a new venture aiming to sell attractive and high-quality clothing. The plan encompasses various crucial components, including a detailed executive summary, introduction, and in-depth analysis of the business details, location, and legal status (sole proprietorship). The market/industry analysis involves a PESTLE analysis, STP model, and product/service description. The report also evaluates the company's Unique Selling Proposition (USP) and competitor analysis using Porter's Five Forces model. An operational plan is outlined, and the report concludes with a summary of findings and recommendations, supported by references to academic sources. The company's focus is on providing reasonably priced, 100% cotton clothing to a wide range of customers, with a strategic location in London's Harvard Street. The report highlights key aspects such as market segmentation, targeting, positioning, and potential issues that could impact the business's success.

Individual Business Plan

EXECUTIVE SUMMARY
This report has been analysed that an effective business plan is very important for the companies in order to attract more
customers towards the business. Details and the location of the business has been analysed in this report. Legal status has also been
analysed. Analysis of the market has also been done in this report. Unique selling preposition and the competition in the market has
also been analysed. At the end operation plan have been evaluated in relation to organisation

Contents
EXECUTIVE SUMMARY.............................................................................................................3
INTRODUCTION...........................................................................................................................6
MAIN BODY...................................................................................................................................6
TASK...............................................................................................................................................6
Business details......................................................................................................................6
Location..................................................................................................................................6
Legal status.............................................................................................................................6
Market/Industry analysis........................................................................................................6
USP and Competitor analysis.................................................................................................7
Operation plan........................................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
Books and Journals...............................................................................................................11

INTRODUCTION
The main purpose of this report is to make a business plan for a new company that helps them to attract more customers as well as
investors. An effective business plan is very necessary for the new start-ups that help them to carry out the activities effectively. It is a
wide concept as it requires a unique idea which has to be applied in the workplace in order to generate profit. The business plan
includes various components like targeting the audience, budgeting, investment and strategy to achieve the goal. Business should have
a unique product that stands out from the market (Yahaya, 2020). In this report there will be the discussion on the business plan of the
Right choice company. The main aim of this company is to provide various types of attractive clothes to their customers in the market.
In this report there will be discussion on the business plan which includes components like industry analysis. USP and operational
plans. It will also be analysed that how the managers and the leaders of the company carry out the business plan in order to achieve the
goal.
MAIN BODY
TASK
Business details
The business is all about the right choice company that has the purpose to sell various types of clothes for all the generations that
are present in the market. The company will sell the clothes which are made up of 100% cotton and which are skin friendly. Right
choice company will locate their store at Harvard Street, London. One of the main purposes of the company is to provide the different
kind of clothes at a reasonable price which are made up of best quality. There is so much competition present in the market of UK in
relation to the clothing sector so it will help the company to stand out from the market by providing clothes at very reasonable price.
Location
Right choice will set up their store at the street of Harvard London. This location is very appropriate for the business as they can
easily attract the customers towards them. It is very convenient for the customers also as this will located at the centre of the city and
facilitates the company to get most more customers (Danila, 2019). This place is very popular for shopping and generally remains very
crowded with the people. This will facilitate the right choice company to generate more profits during the weekends. The company
can attract a lot of customers in that location by providing the best quality of clothes to each and every group age.
Legal status
The right choice company will carry out its operations as a sole proprietorship. It is one of the simplest forms of the business
under which the owners carry out the operations. This type of legal entity facilitates the company and the owners of the company to
enjoy the profit without sharing it with anybody (Feldman, 2019). The company will be liable for the debt of the business. Right choice
company is starting their business in the boundary of the UK so sole proprietorship is the easiest way for them to carry out the
operations as it includes very less paper work. This also facilitates the company to simplify their ownership as there is only one owner
in present in this type of entity. It will prove to be very effective for the company to work as a sole proprietorship because it makes the
tax process so easier and there are no major requirements for the tax. Managers of the company can save a lot of money while starting
the business as sole proprietorship does not need registration fees to carry out the operations.
Market/Industry analysis
Analysis of the market is a very important factor that every business should consider which helps them to find out the desires
and the wants of the customers (Château-Terrisse and Jougleux, 2018). It facilitates the companies is to provide the products and the
services according to their requirements. Some of the factors that affect the operations of the right choice company are mentioned
below:
Pestle analysis:
This analysis provides the knowledge of the internal as well as the external factors for the businesses that are present in the
market. Pastel analysis in relation to the right choice company is as follows:
 Political factors: This factor can be defined as the interference of the government that affects the operations of the
business. In relation to the UK, Government of that country have established a much political stability through which the
companies can smoothly perform their functions. Through this right choice company can easily carry out the operations
in the market of the UK.
 Environmental factors: It is the most important factor that the business should consider while doing the operations in
the workplace (Andreou, 2018). It shows that the organizations should do the development in a sustainable way. Right
choice company should make the decision and plans in order to consider the sustainable development by providing their
customers quality clothes. This helps them to attain the goal without harming the environment.

 Social factors: This factor can be defined as fulfilling the various needs and the demands of the customers in the society.
Relation to the business in the UK, people of that country prefers the product and the services that promote sustainability
and health. Right choice company can easily practice this factor as they sell high quality of clothes through which they
can easily attract more and more customers.
 Technological factors: This sector can be defined as the organisations and business firms in the UK should use updated
technology in the process of production (Barrow, Barrow and Brown, 2018). In relation to the right choice company they
will have to provide the clothes by using Hi-Tech equipment and machines through which they can provide the
consumers more satisfaction.
 Legal factors: It can be defined as the rules, laws and regulations that have been made by the government for the
businesses to deliver the products and services in the market. The clothing industry in the UK should have to consider
this factor while delivering the clothing products to their consumers. It focuses on that the right choice company should
exercise equality act 2010 while carrying out the operations of the business.
 Economic factors: It can be defined as the impact of the business on the economic conditions of the country. Clothing
industry in the boundary of UK as shows a great impact on the economy by contributing and maintaining the demand
and supply in the business. Right choice company should have to consider this factor while they set up their business by
making effective strategies in order to contribute in the economy.
Segmentation targeting and positioning (STP) model –
This model is very effective for the business organisation to divide segmentation, targeting and positioning to the appropriate
group of customers in the market.
Segmentation of the market: In this type of model the company divides the customers into the various groups and the
individuals to which want to deliver the products.
Targeting the customers: This part of the model focuses on that the business should select the appropriate audience in order
to sell the products and the services in the market (Amirul, Baharum and Shali, 2018). In relation to the right choice company they are
providing attractive clothes to each and every age group. They will even target the lower class people of the market by providing the
clothes at a very cheap rate.
Positioning of the market: This part of the model focuses on that organizations should stand up from the competition by
providing the effective product so that the needs of the customer can be satisfied. In relation to the right choice company they provide
the best quality products at reasonable prices. This helps the company to make a position in the market by setting up valuable images
in the eyes of the customers.
Product/Service description:
Right choice company will carry out their operations by providing various types of attractive clothes to the customers. They
produce the clothes for each group age and they made all the clothes with 100% cotton. Some of the main products of the companies
are printed shirts, jackets, jeans and tops (Arya and Delmas, 2021). They stitch their clothes by using hi-tech stitching machines. They
also provide reversible shirts for both men and the women.
USP and Competitor analysis
Porter five forces model
It is a very effective model for the organisations to analyse the level of competition that is present in the market. This helps the
organisation to examine various micro environmental factors. It is one of the main sources to find out the competition in a particular
sector. In relation to the market in the UK there is so much competition present for the right choice company (Stout, 2021). Porter
five forces model are described below in relation to the right choice company to find out the level of competition that affects the
operation in the workplace:
 Threat of new entrants: The clothing industry is a growing market and it attracts new companies to invest in order to
generate profit. New competition in the market decreases the power of the existing organisations or the companies. In the
clothing industry of the UK offers free entry and exit which allows the new companies to increase the competition. There is a
high degree of threat for this factor. In relation to the right choice company they offer quality products to their customers.
There is a low threat of the factor for the company present in the market.
 Threat of new substitution: It is one of the major threats that is present in the market as there are high chances of the
substitutions of the product that are easily available in the market. The product that is easily available and comparatively cheap
affects the position of the company and decreases the profitability in the future. Right choice company should have to consider

this factor as they will be selling clothing products that are easily available in the market. There is a high degree of
substitution of the products that can easily be substituted by the products of the right choice company.
 Bargaining power of buyers: Power of the buyers can be high in the case when they have variety of options available in the
market. Relation to the clothing industry in the UK there are various brands that are serving different types of clothes to the
customers (Hammad, 2019). The right choice company should have to focus on providing the clothing products at a reasonable
price according to the customer’s choice so that there will be not shifting of their customers to the other brand. Degree of this
factor is high in the market.
 Bargaining power of suppliers: Power of suppliers can be defined as when they have the power to increase the prices of the
goods to the retailers. If there are more suppliers present in the market then there will be more options for the company to
switch to an affordable alternative. In relation to the right choice company they will have to make healthy relationships with
the supplier so that they can reduce the chances of increasing the prices of the goods. The healthy relationship and loyalty of
the business with the suppliers makes the degree of this factor low.
 Competitive rivalry in the market: In relation to the clothing industry there is so high competition is present in the market.
Competition is one of the major threats that are faced by the organisations while carrying out the operations. In relation to the
right choice company they can face intense competition in the market of the UK (Geraldo and Gama, 2019). The can also face
shifting of the customers due to the lowest prices that are available from the competitors. There is a high degree of
competition in the UK market.
USP
The unique selling proposition of right choice company is that the clothes that they will provide to their customers are made up
of 100% cotton. Company will use effective equipment in order to stitch the clothes.
Operation plan
An operation plan is a very effective concept in order to achieve the standards of the business. This plan consist various
components that the goals, objectives, timelines and the essential criteria that is required in order to start a new business (Renili, 2018).
The operation plan is mentioned below in relation to the right choice company:
Goals and objectives: Right choice company wants to establish as a brand by selling their high quality clothes product.
SMART objectives
Specific: To achieve 15% of profit in the next 2 years.
Measurable: It will be measured by evaluating be performance of organisation.
Attainable: It will be attain by delivering the clothing products through various digital platforms.
Realistic: Attractive and high quality clothes attract the customers.
Time bound: 1 year
Process: The company will source their cotton from the different producers and as per the trends and the demands of the
customers they will deliver the final products into the market. They will use the Hi-Tech equipment to stitch the clothes through which
they will deliver fine clothes products.
Risk and contingency plans:
Business environment is continuously changing. In relation to the right choice company this should have to consider every risk
that can affect the operations of the business (Hikmah and et.al., 2018). Business contingency can be defined as a document that helps
the business to identify the risk and take necessary actions against it.
Consider major risk:
It is very important for the business organisations and the companies to carry out the research related to the risk. This concept
helps them to identify the challenges and the problems they can face in the future. Companies while starting new business should have
to consider various types of risk like competition, inventory management, and unskilled staff.
Prioritize risk:
Analysing this type of risk helps the management of the organisations to take necessary actions against it. This prepares them
for the events related to the risk that can occur in the future.
Develop a contingency plan for each risk: this plan facilitates organisations to eliminate the risk or the impact of the risk.
Chances of
occurrence
Risk Impact Actions
1 Competition This kind of risk affects
the operation of the
Organisation should make
effective strategies in order

business which results in
the decreasing of the
probability.
to produce quality products
in the market.
2 Inventory
management
It can delay that process
of production in the
workplace through which
the company will not be
able to provide products
and services on time.
Companies should have an
effective supply chain
management through which
they can assist the
customers effectively.
3 Unskilled staff it will decrease the overall
performance of the
company.
Employees should be
trained regularly in the
company in order to
enhance the skills.
Sales and marketing strategy
Sales: It is one of the most important functions that every company wants to increase their sales and earn more revenue. The
right choice company will target the potential customers in order to increase their sales.
Marketing: Marketing is a very important concept that helps the company to promote their products and services in the
market. The right choice company is a new start up and they will promote their product by providing samples of the clothes at free of
cost to the customer (Mistry, 2019). The marketing department of the company will also use social media marketing in order to get lots
and lots of customers towards their business.
Finance and funding plans:
it is very important for the organisations to evaluate the requirements of the funds and their sources to start a business. Major
cost while starting a business should be analysed in the initial stage.
Start-up expenses GBP (£)
Initial deposit £0
Leasehold improvement £20,000
Rent for Mo. Of improvements £3000
Inventory analyst £1800
Professional fees £1050
Insurance £1008
General start-up cost £6900
Marketing £11350
Total £45108
Available resources of the funds while starting a new business that the company or the organisation can borrow are discussed below:
Family and friends: It is one of the easiest sources that has the savings of friends and the family can be used in order to start a
new business.
Bank loan: In this type of funding the organisations can take a loan and have to pay interest on that amount.
Investors: Investors can also invest in the company in which the company has to give a dividend on the earnings.
Management team
It is very important for the organisations to make a effective management who carry out the work effectively. Organisation
should trained their employees in order to enhance their skills. Leaders of the company should effectively co-ordinate that helps the
company to achieve the goal (Komenda, 2019). All the staff should be praised and rewarded according to their performance by the
leaders and the manager of the company
Employees Number of employees Working hours
HR 2 6 hours a day
Sales executives 8 6 hours a day
Marketing executives 4 6 hours a day
Billing executives 6 6 hours a day

Management Team including
supervisors
5 6 hours a day
Supporting Staff 3 4 hours a day
CONCLUSION
From the above report it has been analysed that the business organizations and the companies who are setting up their business in
the market should have to make an effective business plan. Business plans will help them in building the unique idea related to the
products and services through which they can attract lots and lots of customers in the market. Details and location of the business has
been analysed in this report. Legal status of the business has also been analysed. Market analysis of the company has been evaluated
by doing Pestle analysis and market segmentation. Through these analysis organisations and the business firms can get to know about
the external factors of the business. USP of the organisation and the competitiveness has also been analysed. At the end of the report,
the operation plan of the organisation has been evaluated. It helps the business to make the effective marketing and sales strategy.

REFERENCES
Books and Journals
Amirul, S.M., Baharum, A. and Shali, I., 2018. Utilization of Electronic Business Plan for Small and Medium Enterprises
(SMEs). Advanced Science Letters, 24(2), pp.1432-1436.
Andreou, A., 2018. Business plan for ViRi Limited virtual reality studio.
Arya, R. and Delmas, A., 2021. Business Plan Annapurna: A Food Service Availability in Housing Complexes in India. Master’s
Thesis.
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.
Château-Terrisse, P. and Jougleux, M., 2018. The use of the business plan in social funds: A mediator role. Accounting Auditing
Control, 24(3), pp.67-95.
Danila, L.A., 2019. Development of business plan for a stretch therapy service (Doctoral dissertation, California State University–
Northridge).
Feldman, K., 2019. Business Plan for a Battery and Jewelry Parts Wholesaler (Doctoral dissertation, CALIFORNIA STATE
UNIVERSITY, NORTHRIDGE).
Geraldo, J.V. and Gama, P.M., 2019. WHAT DO INVESTORS LOOK FOR IN A STARTUP BUSINESS PLAN?. Revista de
Empreendedorismo e Gestao de Pequenas Empresas, 8(3), pp.231-256.
Hammad, M., 2019. Business plan starting up a Garment export company in the light of Geo-political environment.
Hikmah, N.D AND et.al., 2018. NS BIRDNEST (SWALLOW’S NEST BUSINESS PLAN IN CIANJUR DISTRICT). Turkish
Journal of Physiotherapy and Rehabilitation, 32(3), pp.7351-7360.
Komenda, Z., 2019. Návrh podnikatelského plánu: E-shop ve Francii.: Proposal of the Business Plan: E-shop in France (Doctoral
dissertation, Brno University of Technology).
Mistry, E.B., 2019. Erudio EdTech Consulting Business Plan: An Organization Development-influenced Plan (Doctoral dissertation,
The College of St. Scholastica).
Renili, R., 2018. Business plan competitions: The case of GSVC.
Stout, M., 2021. Megan Stout Design: Design Firm Business Plan.
Yahaya, D.A., 2020. Individual Assignment: Business Plan Report Fundamentals of Entrepreneurship (ENT300): Go-gurt Enterprise.