Starting a Trendy Clothing Store: Business Plan and Feasibility Study

This presentation outlines a business plan and feasibility study for starting a trendy clothing store. It covers the motivation behind the idea, the process involved in generating the business idea, feasibility studies conducted, details of products and services offered, potential market opportunities, industry attractiveness, and the vision of the business. The presentation also includes references for further reading.

Enterprise and
entrepreneurship

Table of Content
 Introduction
 Motivation to incorporate trendy clothing store
 Process involved in generating the business idea
 Feasibility studies conducted
 Details of products and services which are offered
 Potential market opportunities

Table of Content
 Attractiveness of the industry
 Vision of business
 Conclusion
 References

Introduction
 Enterprise is a group of qualified individuals who are responsible for its success and failure by
working for it.
 All the individuals work together to ensure the achievement of various short term objectives so
that the organization can achieve the long term goal it actually aspires.
 The enterprise is divided into various departments where individuals are recruited as per the
necessary qualifications so that they can carry on the business operations in a systematic and
organized manner.

Motivation to incorporate trendy
clothing store
 Now-a-days everyone is focused and quite concerned about how they look. In order to look
best, one have to be well dressed.
 Trendy clothes are popular among all sections of the people but the youths are most aware of
the latest trends prevailing in the market.
 The want and desire to look best is increasing day by day which is motivating entrepreneurs
to startup a trendy clothing store.

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 Significant amount of profitability and much chances of success pushes them to make their
business idea a reality.
 Further, the youths are very fashionable now-a-days and want different dresses to wear daily
such as in universities.
 This makes the chances of success of the clothing store quite high.

Process involved in generating the
business idea
 Look down to suggest the idea – The first step to generate a business idea is try to bring
something new or innovative from the past experiences.
 Advice from friends and family – For the success of any business, it is very Important
for the business to be customer-oriented.
 Brainstorm solution for the set idea – It is now time to improve the networks so that
more and more people are aware of the processed idea.

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 Validate the set idea to ensure success – Now “Trendy Wardrobe” will take measures to
ensure the success of the idea and the planning made. The measures include steps such as
developing customer base in a significant amount, collection of funds and so on.
 Make it a reality – Gathering and arranging funds to invest in the business as capital will
be the last step in making the “Trendy Wardrobe” store a reality.

Feasibility studies conducted
 Conduct an analysis – It is an analysis performed to analyse the business environment of the
organization or store, “Trendy Wardrobe” so that the employees who are going to work for the
entity are provided with the best facilities. The analysis is performed to evaluate their needs
while working.
 Prepare an income statement – It is important to have an idea about the estimated cost and the
revenue the organization may earn in the future, once it has been established. An estimated
income statement is prepared to know if the business will have any future or not.

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 Market research – It is the sole step of the process and is extremely important as
it helps to know the needs and demands of the customers revolving in the
marketplace.
 Preparation of opening balance sheet – Balance sheet is a part of financial
statement which is mandatory for every type of organisation to be made.
 Analysis of data and its review – Review of plan is important for its execution
and success. It helps in analysing the risks and barriers if any that lie in the way.

Details of products and services which
are offered
 “Trendy Wardrobe” will be established for the residents to provide them with the
latest trendy and fashionable clothes.
 It will help satisfy the desire of the people to wear trendy clothes.
 The purpose of the establishment of the clothing store “Trendy Wardrobe” is to
serve the residents all over the globe, especially the ones in UK with the latest
trendy clothes of the year.

Potential market opportunities
 Identification of opportunities at the right time is very important for the growth
and progress in any business.
 While doing any business, there comes several opportunities in the way.
 It is important for the organization to grab as much opportunities as it can for
making the business successful.
 These opportunities will help “Trendy Wardrobe” to know their customers' needs
and preferences well, the products they want, the quality they will like, etc.

Attractiveness of the industry
 Analysis of factors such as new entrants, subtsitutes, buyers, etc., in an industry is
important to predict t5he success of the business in near future. The analysis in
relation to “Trendy Wardrobe” with the help of Porter's Five Forces is given below:
 Buyers' powers: “Trendy Wardrobe” has a high threat from buyers as the clothing
industry is huge enough. The business can reduce the threat by offering the customers
quality products at affordable prices.

Vision of business
 Vision of the organization “Trendy Wardrobe” will be to provide its customers with
the latest trendy and fashionable clothes, at affordable prices, for all age groups.

Conclusion
 From the above presentation, it has been concluded that the business plan made for
establishing a trendy and fashionable clothing store is a good choice from the
business point of view as it will definitely have significant profit, if successful. The
store will try to provide its customers with latest trendy clothes in order to satisfy
their needs and desire to look good and well dressed. Planning of business idea and
its execution are two different things and the store will check the feasibility of its plan
so that it can ensure its success and identifies the risk, if any.

References
 Dey, P. and Steyaert, C. eds., 2018. Social entrepreneurship: An affirmative critique.
Edward Elgar Publishing.
 Haugh, H. and Brady, A., 2019. Community perspectives on social entrepreneurship.
In A Research Agenda for Social Entrepreneurship. Edward Elgar Publishing.

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