Small Business Development.

Added on - 09 Oct 2019

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Small Business DevelopmentGroup Business PlanByStudent ID:000909349000950888000948206000951085000948638Tutor: Dr.Lewis LeeCourse:BUSI1494 Small Business DevelopmentCoursework: Group Business PlanDate:9 October 2019BUSI1494 Small Business Development Group Business Plan2|P a g e
Table of ContentsExecutive SummaryChapter 1Introduction5Chapter 2Management Team9Chapter 3Industry Analysis12Chapter 4Market Analysis14Chapter 5Marketing Plan16Chapter 6Operations Plan20Chapter 7Financial Plan23Chapter 8Critical Risk Factors26Chapter 9Conclusion27The Reference List28AppendixA: Peer Review30AppendixB: Action Plan31AppendixC: Presentation PowerPoint33List of ChartsChart 1Company Structure9Chart 2Apparel Retailers Rank in Terms of Fashion & Value13List of TablesTable 1Opportunities Analysis6Table 2Brief description of the business model8Table 3The Primary Customer14Table 43 Years Plan19Table 5Statement of Profit or Loss and Other Comprehensive Income23Table 6Statement of Financial Position24Table 7Cash Flow for U-Design House, Year of 2017, 2018 & 201925BUSI1494 Small Business Development Group Business Plan3|P a g e
Executive SummaryIn 2016 five people with passion hearts and purpose focuses on fashionindustry established a company called U-Design House. They think everyonehas own sense of touch for fashion and their beloved style so everyone canbecome a fashion designer to design their unique clothing for themselves.Therefore, they established a platform to provide technology to make qualityclothes with their own style with acceptable price.U-Design House focuses on women’s apparel in the first year; we may expandto men’s apparel and set up workshop for them in second and third year. Ourtarget customers are30-55 years old female groups.We provide the service forthe customers tosimply design their own unique style in a few clickson ourwebsite. They can enjoy a perfect fit with handmade, made-to-order clothingcreated by skilledtailor.We sell the clothes with acceptable price toensure profitability andsustainabilityby paying close attention to our pricing strategy. Customers candesign and then buy it on our website directly. The best approach toadvertising isbysocial media such as Facebook or magazines.BUSI1494 Small Business Development Group Business Plan4|P a g e
Chapter 1IntroductionU-Design House is a local fashion company that represents long-lasting andown style since 2016. Founded in Hong Kong by five young people withpassion and purpose focuses on fashion industry.That five young people love long-lasting fashion; however, they look aroundthe world they found same style with expensive price even with good quality.Moreover, they found there are thousands of fast fashion brands are nibblingthe traditional fashion industry. Fast fashion at low price and poor quality,cannot lead fashion trend and made a glut of clothes which are not necessary.They perhaps everyone has own sense of touch for fashion and their belovedstyle so everyone can become fashion designer to design their unique clothingfor themselves.Therefore they established a platform to provide technology to make qualityclothes with their own style and with acceptable price.MissionThe mission of the U-Design House is a representative of the long-lasting andown style with high qualities in the world. U-Design House representscreativity and stylish products that reflect eternal values, blend classic andinnovation, and let everyone become their own fashion designer and enjoy theprocess.VisionU-design House's vision is providing the resources to create, produce andpromote their products and services through online platform to ensure thedevelopment of each product style with respecting customer's lifestyle andtheir autonomy.BUSI1494 Small Business Development Group Business Plan5|P a g e
OpportunitiesOur opportunities (Honeycuttet al, 2003)of fashion industryTable 1Opportunities AnalysisBUSI1494 Small Business Development Group Business Plan6|P a g e- Fast fashion created environment crisis(Wicker, 2016)- Fast fashion is deteriorating sources of the carbon emissionsthat contribute to global warming.(Rosenthal, 2007)- Most factories of fast fashion are located at Cambodia,Malaysia, Vietnam or Thailand as employers of child labor- Hong Kong Government support for SMEs (small andmedium enterprises since 2010- According the program of SMEs provided over 50 thousandpositions at manufacturing industry(Support andConsultation Centre for SMEs, 2016)OOPPORTUNITIES
According the above opportunities, we think fast fashion will be faded out infashion industry in the future because the environmental crisis and theproblem of child labor that provides us an opportunity to enter the fashionindustry to promote the long-lasting wearing concept. Promotion is mostimportant part of our business plans to let customer know they can design theirown clothes with high quality fabric, classic and long-lasting wearing insteadof fast fashion.We have strong mission to change the situation of fashion industry to balancethe fast fashion and tradition fashion. We all founders worked garmentindustry before and understand the process of making clothing and we knowthe channel to purchase high quality fabric. These are our competitiveadvantage.BUSI1494 Small Business Development Group Business Plan7|P a g e
Table 2Brief Description of The Business ModelBUSI1494 Small Business Development Group Business Plan8|P a g e