Business Plan for Style and Stylish Clothing Business

The report explains the preparation and development of a business plan for a clothing business named Style and Stylish. It includes a feasibility study, STP analysis, competitive analysis, business model canvas, and financial techniques for risk assessment and mitigation.

BUSINESS PLAN

Table of Contents
INTRODUCTION ..........................................................................................................................4
TASK...............................................................................................................................................4
1. Develop a feasibility study of your new venture concept. With the help of relevant
conceptual frameworks, critically examine the view which entrepreneurs are the engine of
creativity and innovation.............................................................................................................4
2. Conduct a STP analysis and competitive to critically explore the opportunity gap in the
marketplace for supporting the analysis with relevant data drawn from extensive market
research.......................................................................................................................................5
3. Drawing on Osterwalder's Business model canvas and Porter's value chain, describe
proposed business model and state how and why you think new venture would work or
function.......................................................................................................................................7
4. State the business and marketing strategies or policies which entrepreneurs would follow.
Discuss the common issues which first time entrepreneurs would commit. Define the
strategies used for consolidation, underperformance and growth.............................................10
5. Explain the financial techniques, decision making models and planning tools which would
be used for assessment and mitigation your risk.......................................................................11
CONCLUSION .............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
The report prepared as under takes in account the preparation and development of
Business plan which considers working and functioning of clothing business (Caratti, 2021). It
concentrates on setting up a business firm which focuses on clothing related areas. It explains
selling of products in a cost effective and efficient manner and setting up of stores at nearby
places which would help in generating demand for the related products. Business plan are helpful
and useful in preparation of budgets and actions as what can be done and in what ways one can
achieve the objectives being set by a business enterprise. Along with objectives being set by a
company one must be assess strategies being developed for the smooth running and functioning
of the business firm.
TASK
1. Develop a feasibility study of your new venture concept. With the help of relevant conceptual
frameworks, critically examine the view which entrepreneurs are the engine of creativity
and innovation.
The case study explains about the new venture which is being named as Style and Stylish.
This business has been developed and established in UK and is observed to render qualitative
products and services towards their consumers and its main objective is to capture marketplace
and tap areas which remained and went untapped that would help to attract more customers from
market and form a chain as well. They would mainly be dealing in stitching of clothes for all age
groups and sizes as well. The colour combination chosen by the company would be light and
bright. Its focus would be to give people a sense of liveliness by selection of new and attractive
colours (Cugerean, 2018). The main aim of the enterprise is to attain high sales income and
generate more and more profits by introduction of innovative and creative business activities as
well. Innovation and creativity are considered one of the best ,medium to attract and form a chain
of prospects from the environment. It is also helpful in managing competition and have a
competitive advantage from environment as well. There are many ways through which clothing
company can attract more and more customers and even engage them for a longer period of time
such as :
 Examining the marketplaces: It is necessary for every business to understand whether it
would turn out to be beneficial and fruitful for the business plan to be developed in the

economy or not. It would further explain ways through which one can assess
opportunities and threats existing in the environment. It would be helpful for the business
to have a better understanding of what can be done and how can be done and which
methods would help to achieve objectives in desired time period. It would be useful to
understand competitors which would give tough competition to the business and would
result to be a threat for the business and search for ways which would help in minimizing
the effect (Haag, 2018).
 Understanding the taste and preferences: After examination of market environment it is
important for business owner to assess what is being chosen and preferred by the
customers existing in marketplaces and economy which can be attracted and would serve
as a tool for maintaining efficiency and effectiveness in related economic environment. It
would further serve as a technique as what product must be placed where and which area
would render maximum demand and profitability in the environment.
 Having proper updates of the trends prevailing in environment: It explains being updated
about the trend being followed and chosen by the people existing in the environment
(Herůfek, 2019). IT further also gives an idea about what can be done to serve the people
in expected manner. It explains the range being chosen for the products, colours being
preferred and chosen, what time the shopping is done at peak and also which fabric is
more preferred over others. It further would be helpful to create more innovative and
creative products keeping the trend which is existing in the environment at present point
of time.
2. Conduct a STP analysis and competitive to critically explore the opportunity gap in the
marketplace for supporting the analysis with relevant data drawn from extensive market
research.
Style and stylish market analysis
The business plan mainly examine the competitive market of the UK territory which
would at first identify the need and wants of consumer. SO it would be helpful in placing and
introducing new and innovative type of products in the economy. There are some sort of methods
which would be helpful in competitive analysis such as:
 Analysing and examining the existing competitors: It is helpful for the business to
understand well in advance the type of competition they have to come across and find

ways which would contribute them to face and overcome such challenges and won't
cause any hurdles or obstacles in the development, growth and expansion of business
(Indrawan, 2018). It would be important for the company to understand well in advance
the strategies being adapted by other business persona and in what ways new start up can
be placed in such a way which would help it to attain profitability and success in
economic environment.
 Demand and Expectations of consumers: It is very important for every business whether
existing or being planned ion a new scale to understand what is being demanded and
needed by the customers existing in the environment. It also would also help to
understand where the existing business is lacking which could be used as a competitive
advantage over others for filling the gap and overcoming such hurdles and obstacles
present in the environment which are coming over the way of business. Understanding
and having a better knowledge of users present in the market would be helpful to attract
and engage people for running the business over a long term.
 Understanding the plan of competitors for capturing the market: It would help to have an
idea as which measures are being adopted and what has been their unique selling method
for attracting people from the environment. It is mandatory for every business plan to
have a view well in advance as which are remained untapped and can be used for better
chances or opportunities in the marketplaces (Jerez, 2021). It would explain whether the
competitors are targeting a certain area or age group or they are tapping market as a
whole.
Segmenting targeting positioning analysis of Style and stylish
The model is useful when one wants to develop a marketing communication based strategy. It
would be helpful for the company to analyse and examine the market segmentation, target being
set by the business and the position of the business in existing competitive market. Main
description of the company is stated as under considering the points:
 Segmentation of market: It explains which method would be helpful in determining the
demands and requirement of consumers and segmenting the market. Style and stylish
company before introduction of any product would be helpful in identifying the customer
need and wants as it would help to engage the customer from marketplace if they are able
to fulfil the demands of users. It would help to have a interaction with customers to have

a better view and understanding as what is being expected, what they receive and where
the business can improve which would provide them a sense of full satisfaction. It would
also help to understand whether they are able to get what they are being paying for. It is a
manner which would provide assistance to the company fr being able to produce current
trend setting products which would add value in their life and their style as well (Lindén
and Peltonen,2022).
 Targeting in marketplace: After the completion of process such as segmentation or
identification of consumer needs. Them it would be targeting the environment which
would give them best responses. They would be having some source to target the
economy such as it would be able to select with the help of online marketing, targeting
and contributing in revenue generation such as in consumer life cycle and segment as
well. It would be helpful in achieving and attaining of targets such as women section,
men section and children section as well. The business plan would be considering old age
people as well which would be having a option to opt for comfortable clothing and trendy
as well. Style and stylish would be targeting old age people by giving them a better
option to opt for style in a different way which would be comfortable as well (Mugo,
2018).
 Positioning in market: After the targeting of market the business is expected to position
its work in such a ways which would be more beneficial and fruitful in coming years as
well. It explains ways which would render the revenues of scale being set by the
organisation. It would help in development of image which would be competitive and
attractive as well keeping future conditions in mind. It is necessary for a new business to
chose a location which would give them customers as well as opportunities too and help
them to attain goals set by them.
3. Drawing on Osterwalder's Business model canvas and Porter's value chain, describe proposed
business model and state how and why you think new venture would work or function.
Osterwalder's Business model canvas of Style and stylish
Key Activities
 Marketing
 Advertisements
Key partners
 Bigger brands.
 Contract based
productions.
Customer relationships
 Loyalty among
product being
served and
Value propositions
 Chosen over a
wide range.

 Warehousing
 Examining and
assessing of
customer
demand
 Pricing level
 Highly
effective
distribution
approach
 Diversification
 Company
manufacturers
and
distributors.
 Suppliers and
organisation at
a global as well
as geographical
level.
services
rendered.
 Building trust
among
consumers: It
is very
important for
achieving trust
among the
users being
linked and
engaged.
 Services
society
expectation
and demands
as well.
 Customer
service.
 Brand loyalty.
 Maintaining
long term
relationships.
 Payment mode
can be both
online and
through cash as
well.
 Security
 Purchasing is
done through
online medium
as well.
 Better values
and prices.
 Style and
stylish covers
all segments
from market
diversification
point of view.
Channels
 Closely
connected
Customer segments
 All age groups
whether kid,
Key resources
 Style and
stylish is a new

stores
 Easy return
policies
 Online medium
shopping
 Social media
 Online
application
 Gift vouchers
young or adult.
 For all genders
whether male,
female or
other.
business store
which is being
developed in
UK and would
be providing
the clothing
related
products.
 Stores and
logistic based
funds
 Warehousing
and logistic
 Connected
networks.
Porter's value chain of Style and Stylish
 Bargaining power of suppliers:The bargaining power of the supplier is recorded to be less
as they would be depending on consumers because they generate demand and in relation
it would help the business to develop, grow and expand which would be helpful in long
run of business. Whereas Style and stylish would be having a good opportunity for
having a bargaining margin of food related items and other products as well (acheco
Quesada and Toyofuku Hoshi, 2021).
 Bargaining power of purchaser: This model would be useful for the company to examine
the bargaining power of the consumer. If the production price of any business enterprise
is high then buyer would be switching the organisation and preference as well. With the
assistance of such model business can analyse the bargaining capacity of the user.
 Threat of substitute goods and services: Products such as cloths generate demand easily
but capturing and retaining it is a tough deal to manage, some goods have been observed
to be irreplaceable due to quality whereas in some cases it might be cost effective thus it

is necessary for every business to take in account all such measures and understand how
company can deal with such conditions and minimize effect.
 Intensity of competitors: IT is helpful in checking the strength of other enterprises
working in the economic environment. It mainly would be helpful and useful in
identification of techniques and new innovative methods which would help in
development of new business and demand. It would be having some rivalry firms such as
Marks and spencer, Zara (Pramudityo, Rizzo, 2018).
 Threat of new entrants: Every organisation whether new or old would always be having
risk of new competitors trying to enter in the market which might result in reducing the
scale of sale of the existing firm.
The style and stylish which is observed to mainly deal in clothing industry would definitely work
because the business is coming up with the idea of innovation and creation in marketplace. They
would be having a main objective and motive to generate profit or revenue but rendering services
as well as products with good quality and following all the safety measures which would result to
be profitable for the employees of company and even customers as well. They would also work
in a more efficient and effective way for achieving targets and objectives. If they would be
working on a continuos basis then they would reach their goals and capture the whole economy
soon.
4. State the business and marketing strategies or policies which entrepreneurs would follow.
Discuss the common issues which first time entrepreneurs would commit. Define the
strategies used for consolidation, underperformance and growth.
Marketing strategies which are being adapted and used for development of company Style and
Stylish are such as:
 Search engine optimization: This is counted as a more effective way for introducing
business activities in market. Many people would be searching online for data and
whereas in case of SEO they take forward the brand site from the website traffic.
Through strategic SEO, Style and stylish would be able to introduce itself to lead with a
high purchasing intent and needing state, that can make this sort of firm easier to close.
 Social media platforms: Style and stylish can make better use of social media platforms
for development of competitive brand or image around the surroundings. This is a very
effective and cheap method of marketing. They can evolve their presence on several

social media platforms and running advertisements on them (Santoso, Awibowo and
Sofianti, ., 2019).
There are some common mistakes which first time entrepreneurs are being discussed as below:
 Avoiding constructive feedback: Founders must give importance to the feedback of
potential users and then take effective measures and actions accordingly.
 Hiring wrong staff force: Founder is required to hire employees which would be on the
basis of their talent or skills and capability as well. Many founder would hire staff person
according to the salary needs in relation to decrease the expense.
 Avoiding market related risk and threats: Ignoring market risks is one of the major
reason which is the reason behind failure of such businesses. Many founder would
mainly be focusing and concentrate on rendering perfect technical terms.
Businesses using several strategies in creating base in the marketplaces. Enterprise has to give
more importance to the needs and demands for preparation of product according tyo their needs.
5. Explain the financial techniques, decision making models and planning tools which would be
used for assessment and mitigation your risk.
Risk mitigation refers to the process of planning and development of ways and methods which
would help in decreasing and minimising risk related to project objectives and goals. There is
higher risks in the new start up thus it is important for Style and stylish to examine such risks and
increase the ability for meeting these stated risks. There are different type of financial tools and
techniques and models of decision making which would help in identification of upcoming risks.
There are some strategies which would help firm in identification of project risks such as:
 Examine and predict risks: It is sort of strategy which is helpful and useful in assessment
and providing better understanding of risk which might impact the output and main
motive of such strategies for conveying risks related to business. It would help in
focusing over the risk and its effect over cost of production. Style and stylish adapt such
strategies for controlling the wastage of expenses which would increase the profit
generation of the business enterprise (Schinnerl, 2021).
 Avoiding and neglecting risk: It would help to understand the opportunities present and
what would the result as well as consequence of the same. It would also help to avoid
such risks. Such strategies are also refereed as avoidance strategy. Style and stylish
would make a plan for understanding the risk and also take actions for avoiding them.

 Monitoring risk: This strategy is taken into account when risk cannot be avoided. This
strategy would recommended actions for reduction and implementation of actions for
elimination of risk effect. It would control the risk factor for achieving success in near
future (Wasawat Kit Tawee Sinpitiya, 2019).
 Transfer of risk: The main aim of such strategy is to transfer the stress of such risk to
another party. This risk would take place when one department functions would be
affecting the work of another department and working as well.
 Watch and monitor operational functions: Production team might adapt this strategy as a
part of a standard project review plan. Scheduling, cost and performance or production
are all aspects of a project which can be controlled for risk which might take place when
completion of project takes place (Zoubková, 2019).
CONCLUSION
From the above report it can be concluded that company Stylish is a UK based company
which deals in the clothing products. They deals in all kinds of products for all generations. The
main motive of the organisation is to develop strong base at the marketplace with high growth.
This company providing quality products to its consumer in order to gain maximum trust from
them. Company using various marketing techniques to attract maximum number of people. It
also analyse porters five forces to provide the understanding about major challenges comes from
the market. This report contains the various marketing strategies which help firm to reach more
people. This strategies help in the maximisation the growth of the firm. Financial tools and
decision making theories help to reduce the risk of failure of the company. These techniques and
strategies helpful in achieving the organisational goal of the firm.

REFERENCES
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