The Covid Challenge Business Plan

The Covid Challenge Busi-
ness Plan
1

Table of contents
Business details............................................................................................................................3
Industry analysis..........................................................................................................................3
Product description......................................................................................................................5
USP and competitor analysis.......................................................................................................6
Operations plan............................................................................................................................7
Risk and contingency plan...........................................................................................................7
Sales and marketing strategy.......................................................................................................8
Finance and funding plan.............................................................................................................9
Management team......................................................................................................................11
REFERENCES..............................................................................................................................12
2

Business details
Objective –to become most valuable and trusted company
Mission
To increase customer experience by providing them high quality products with ease. Also, to
provide VR experience to customers in stores.
Location- the stores of Galaxy retail will be located at high street market London. The head
office address is 887, Gain, Bradford, UK.
Business details
Galaxy retail is planning to establish an online and physical retail store. It will offer
variety of organic and immunity booster products to customers. Besides that, it will be a retail
store where grocery items is also available (Abdullah, 2020). Galaxy retail will also provide
home delivery of products and it will have its own App as well from where customers can do
shopping and order products online.
Industry analysis
It is necessary to do industry analysis so that it can be identified what factors can impact on
business operations. Besides that, in retail sector there occur trends so doing analysis will help in
finding out those trends. Thus, there are framework to do analysis which is as below :
Pestle analysis
Political – In this it includes factors such as trade laws, tariffs, change in government, etc. Thus,
any change in these directly impact on business. However, brexit is also a factor in this as UK
rules and regulations changes. Thus, Galaxy retail operations will be affected as they have to
follow UK regulations. Besides, Brexit may led to high inflation and low expenditure of
customers.
Economic- There are factors such as interest rate, currency rate, GDP, per capita income,
economic growth, etc. of nation. Hence, any change in these factors affect on economic growth.
Moreover, due to covid 19 economic growth of UK has declined. Thus, it will impact on Galaxy
retail sales and profits. In addition, the growth of business can be affected as people make less
expenditure.
Social – The social factors are related to change in taste, needs, etc. of people. Also, it includes
ethics, values, of culture followed by people (Bulatova, 2018). Due to covid 19 the lifestyle of
3

people has changed. They have become more health conscious and their needs have changed. It
will affect on Galaxy retail in positive way. This is because the firm is offering organic and
immunity booster products. So, more customers is attracted towards it.
Technological – It consist of technological advancement. As UK is developed nation and due to
lock down more people are using technology. Therefore, this factor will affect on Galaxy retail
operations in positive way as they are also e commerce business and provide home delivery of
products. Besides, Galaxy retail can operate in wide area and attract more customers.
Legal – it contains laws and regulation related to employment, health and safety etc. So, if there
is any change in these then operations is impacted. However, due to covid 19 there is change in
health and safety rules. Hence, Galaxy retail will have to focus on health of staff. So, there
operations will be affected due to that.
Environmental – In this it includes factors that is CSR practices, environmental laws, etc. The
UK government has focused on reducing carbon emission. For that new guidelines and laws are
implied that focus on reducing use of plastic (Colclasure, 2020). Therefore, this impact on
Galaxy retail operation in negative way.
It has been analysed that in UK the total retail sales value in 2020 was £403 billion.
Moreover, there are total 306, 985 retail outlets and the sector generate about 5 % of GDP.
Besides that, the annual growth rate of online retail sales in 2002 is 45% and since 10 years there
is rise of 324% in online sales. Furthermore, there are 2.9 million employees in retail sector. It is
evaluated that there is growth of 2.2% in retail sales in 2020. There is 28% proportion of retail
sales which was online in 2020. In 2021, the retail sector is only one which has increased to
2.1% as compare to all other sectors.
4