E127 - Small Business Management: Online Vintage Fashion Business Plan

This assignment presents a comprehensive business plan for launching an online vintage fashion business. It begins with an introduction to the vintage clothing market, highlighting its resurgence and relevance in contemporary fashion. The business objectives focus on creating a diverse style collection, developing a robust business plan, and establishing a market presence. A PESTLE analysis assesses the political, economic, socio-cultural, technological, legal, and environmental factors influencing the online fashion market. The plan details management and operational aspects, including brand creation, market research, and website considerations. Promotional strategies emphasize online channels like SEO and PPC advertising, while pricing considers customer perceptions and competitive positioning. Funding options, such as bootstrapping, angel investment, and venture capital, are explored. Mid-term growth strategies center on targeted marketing and customer service. The plan also includes financial costing, forecasting, and personnel management considerations for a successful online vintage fashion venture. Desklib offers this assignment as a resource for students studying business development and entrepreneurship.

Small Business Plan
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Introduction
The innovative ventures for the entrepreneurship and small business are the most exciting
problems for business practice. The development as well as the research works for any type
of business ventures can be complex on the economic situations for innovative products. The
assignment includes a proper idea of starting a new ventures and business in the rivalry
market along with the assignment depicts about all the required objectives for starting a small
business. As per the given case study, the assignment takes online vintage fashion business as
the new venture and small business for its marketing purpose. The are several market places
included as well as proper planning how to start the business and a proper planning for its
sales and resources collection from different places. The main outcome of the assignment will
be gain the knowledge of entrepreneurship and the creation of new ventures in order to
achieve a proper knowledge.
Business Background
Vintage clothing and fashion can be considered as a generic terminology for the garments
that are originating from the previous years. Presently, the vintage dressing includes specific
accessories along with mixing the vintage garment with the new one s to achieve an innovate
product. In the present day, the vintage fashion clothing may be available of the local
charities or it may be found also in the internet (Schaper et al., 2014). The purpose of the
vintage clothing is to apply older style of garments as a reflect on innovative designs and that
can be named as retro clothing. The vintage clothing can be taken into account as a form of
the simplicity in the fast developing world. In order to re-ware the cloths from an individual
cupboard and wearing innovative also acquired the vintage as well as retro clothing that can
be considered as a desire to re-establish the similarity of the previous era. The man concept of
vintage clothing was came from the time of second world war and the reuse of the cloths are
considered as the procedure of living. That time, the Government conserved their campaign
by using the statement of ‘generate economy more fashionable lest it became obligatory’ and
the outcome of the statement make approximate 15 percent of the minimization in case of
production of trashes (Ward, 2016). The main concept for the business is came to
consideration as the Fashion is growing very fast in everyone’s finger tips and it create a
requirement for the ongoing modification of the products along with some elements that is
innovative and fresh.
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The vintage clothing retains as well as maximizes the value as a factor that can be considered
as a formation of the previous era. Moreover, the genuine garments are constructed once in a
specific time along with the attention in order to make an innovative item that also has a
long-term value (McKenzie, 2017). In every week, there are millions of college and school
students and youths around the world those are attend the themed parties through dressed in a
exceptional as well as outlandish clothing. The main issues are that identification is unique
but the outrageous clothing for the entire events is very difficult. For example in US every
week there are millions of college youths who are unable to identify a perfect neon pink dress
on the 80’s night in their locality. Through the research and survey the idea online vintage
fashion clothing is came at mind.
Business Objectives
The main objective of the new business will be based on the following topics:
 To create an band of different styles and phase
 To generate a proper business plan and its characteristics for a successful business
plan
 To identify the key factors how the new business, online vintage fashion business can
achieve its proper place in the ,market
Market proof
As a market proof for the online vintage fashion business a PESTLE analysis of the online
fashion market is provided below:
Political Factor:
 Lack of adequate laws to prevent the
intellectual properties for the online
retailers (Wynne, 2016)
 Lack of clarity of the taxation for the
products those are sold by the
retailers through the internet
 Customer rights can be considered as
another issue
 Foreign investment are not allowed
for this shopping
Economic Factor:
 Primary guideline in order to develop
the e-commerce website that is
relatively very high and does not
consists of any hardware
 There are many ecommerce
organizations in order to get the
human resource due to shortage of
quality
 The transportation system is not
developed properly in order to deliver
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the products to the customer
Socio-culture Factor:
 In case of security and privacy in the
time of transaction it remains huge
impediment for the growth of the
economic condition of the market
 All the consumers are also concerned
for this purpose as well as they wish
to check the product in person to
provide the customer satisfaction
Technological Factor:
In case of technological factor for online venture
fashion business, the organizer or organization
needs to maintain all the helping websites along
with he needs to customize and deal with various
requirements in the time of operating in a specific
market (Ghezzi et al., 2015)
All the database of the organization needs to be
updated as well
Legal Factor:
The business needs to follow all the legal
frameworks and inside this they have to operate
their actions and operations. For example, every
organization have to operate under the Health and
Safety act for the purpose of their employee’s
health and for that this organization must follow
the same act as well (McKeever, 2016)
Environmental Factor:
In case of environmental factor, the organization
have to obtain the surrounding environment of its
company as the weather condition and
surrounding situation may have an impact on
their marketing purpose.
Breadth and currency research source
Management and operational details
The management and operational details for the business of online vintage fashion clothing
can be described as follows:
Creation of the Brand: In order to make the market planning for the business in the market,
the organizer needs to make a proper planning of how he or she can makes the brand popular
inside the market. There are millions online vintage shops available in the internet and
therefore, it are the most essential to identify the factors of how the organizer can make his or
her brand unique in the market (Goss, 2015).
Gaining proper idea of the market: As a start up business, the organizer does not have any
idea of the frameworks and concepts that will help him to achieve a proper position in the
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market. Therefore, the organizer needs to make a proper research and survey of the market
and the rivals to make a step inside the market.
Consideration of the websites: The factor depicts about the thinking of online websites
through which the organization or the organizer wants to sale the products to customers.
There are many online sites available in the internet through which the procedure can be
followed such as eBay, Flipkart, Amazon and many others.
Promotional and marketing planning
In order to describe the promotional and marketing plan for the online venture fashion
business 4Ps can be taken into account and can be described below:
Product In case of the product, the organization needs to
make up for all the loss experience in physical
shops along with touching the product along with
speaking out the assistant of shop. Therefore, it
needs to ensure that they may have proper images
or a video and have a visible forum for all the
questions (Ross and Byrd, 2015). As the product
is internet based that is why the organization can
arrange trial visions along with demos and
upgrades and many others. The main product for
this market planning and promotional planning is
to sale the vintage garments through online for
business purpose.
Promotion In case of promotion of the business, the SEO
should include all the online business details as
well as PPC advertisement that can be considered
as a very cost efficient and effective equipment.
Through proper taping into its massive resources
it may be very dangerous as it can be rewarded
and the main trick is to let all the networking
members to promote the business for the
organization (Cant, 2016).
Price The organization needs not to be afraid about
putting the product’s price as well as customer
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services on the online sites as well as promotional
elements. It can also be displayed that the content
of the promotion along with the information of
price includes a higher response as well as the
rate of conversion. The price can be defined as a
criterion in the time of consumers’ looks for a
particular innovative product they requires to do
that own self. In case of online vintage fashion
business, the price of the product acts as an
important factor for making the business of the
organization more popular (Barton, 2016).
Place In this context, the place refers not only to the
location of the organization, it also refers to all
the online sites those are required for the
organization to sell its products such as Flipkart,
eBay, Amazon and many others.
Funding requirements
The most important requirements for funding the business can be described as follows:
Start-up business bootstrapping: The organization can start their business of online vintage
fashion business by self-funding that is an effective and efficient way to make the funding of
the company for its business.
Angel investment: Angel investors are people with excess liquid assets and a great interest in
investing in new emerging companies. They also work in networking groups to review the
proposals jointly before they invest. In addition to capital, they can also offer advice or
advice (McKenzie and Sansone, 2017).
Venture capital for the business: Venture Capital can be professionally organized funds
that invest in companies with high potential. They usually invest in an equity agreement and
leave it if a bursary or acquisition takes place. The VCs offer technical knowledge,
mentorship and acting as a litmus test of where the organization is headed and appreciate the
company from a perspective of sustainability and scalability.
Strategy for business growing in mid-term
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The online vintage fashion company will offer its products and services that aim for
commercial purposes on the right market, where consumers have their right requirements.
Through appropriate surveys and market research, the company can choose its target markets
for the business. The price strategies for a new product and customer service for this
organization are also very important for the development and improvement process
(Kusumaningrum and Hidayat, 2016).
For example, if the organization intends to start a new innovative product, first think about
the retailer's shopping process and help the organization to benefit from marketing workers.
For example, when the company applies a new purchase, it must also think about the
requirements of the customers.
Financial costing and forecast
The economic planning method, which is considered a group of decision-making elements,
involves three key components such as the planning of the profit and loss account, the
preparation of the balance sheet and, ultimately, the preparation of cash flow.. The numerical
results of the financial planning method are three correct pro forma statements.
The three-room proposal must be accepted internationally in the context of accounting
standards (Cant, 2016). In the event that the organization is financed with the help of venture
capital together with the applicable capital changes, the presentation of capital is expected,
which leads to a better understanding of capital transactions.
Professionalism
Personnel management can be identified by monitoring, using and maintaining a reasonably
satisfied workplace. It is always an appropriate part of management to look after subordinates
to work, as well as their connections within the organization. In the case of Nature for
Personal Administration in Online venture fashion business, it consists of several factors of
employment, improvement and compensation. All these factors may be fulfilled by the
individual administration through the help of other departments (Goss, 2015).
Conclusion
Innovative entrepreneurship and small businesses are the most interesting topics for business
practice. The task is a good idea to start a new venture and company in the competitive
market, together with the task describing all the necessary goals to start a small business. The
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most important result of the task is the knowledge of entrepreneurship and the creation of
new companies to acquire the necessary knowledge.
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Reference List
Schaper, M.T., Volery, T., Weber, P.C. and Gibson, B., 2014. Entrepreneurship and small
business.
Ward, J., 2016. Keeping the family business healthy: How to plan for continuing growth,
profitability, and family leadership. Springer.
McKenzie, D., 2017. Identifying and spurring high-growth entrepreneurship: experimental
evidence from a business plan competition. American Economic Review, 107(8), pp.2278-
2307.
Wynne, H.S., 2016. 4 Wynnes Boating Manufacturing Company: A Market Analysis and
Business Plan for Northwest Arkansas.
Ghezzi, A., Cavallaro, A., Rangone, A. and Balocco, R., 2015, April. A Comparative Study
on the Impact of Business Model Design & Lean Startup Approach versus Traditional
Business Plan on Mobile Startups Performance. In ICEIS (3) (pp. 196-203).
McKeever, M., 2016. How to write a business plan. Nolo.
Goss, D., 2015. Small Business and Society (Routledge Revivals). Routledge.
Ross, L.W. and Byrd, K., 2015. Business Plan Competitions: Start-Up'Idols' and Their
Twenty-First Century Launch Pads.
Cant, M.C., 2016. ENTRANTS AND WINNERS OF A BUSINESS PLAN COMPETITION:
DOES MARKETING MEDIA PLAY A ROLE IN SUCCESS?. Journal of Entrepreneurship
Education, 19(2), p.98.
Barton, A., 2016. The Munch: An Integrated Business Plan.
McKenzie, D. and Sansone, D., 2017. Man vs. machine in predicting successful
entrepreneurs: evidence from a business plan competition in Nigeria.
Kusumaningrum, I. and Hidayat, H., 2016. Learning Outcomes in Vocational Education: A
Business Plan Development by Production-Based Learning Model Approach. International
Journal of Environmental and Science Education, 11(18), pp.11917-11930.
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