Detailed Business Plan: Unique Designer - Entrepreneurship (BMS508)

This business plan outlines the strategies for Unique Designer, a UK-based clothing company, focusing on providing trendy, high-quality fashion. It details the company's mission and vision, emphasizing its ambition to become a market leader. The plan includes SMART objectives, a thorough market analysis using SWOT and PEST analyses, and Porter's Five Forces to understand the competitive landscape. It also covers target market analysis through segmentation, targeting, and positioning (STP). The operational plan outlines activities for cost reduction, productivity improvement, and quality enhancement. Growth strategies, including market penetration and product development, are discussed, along with financial information to support the company's objectives. This document offers insights into the strategic planning required for a new fashion business to succeed in a competitive market. Desklib provides access to similar business plans and solved assignments for students.

Business plan

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Objectives of Unique Designer:...................................................................................................3
Market information of fashion industry: .....................................................................................4
Operational plan: .........................................................................................................................7
Strategies for growth and development:......................................................................................8
Financial information:..................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES................................................................................................................................1

INTRODUCTION
Business plan means tool that help business growth, it is a written documentation which
contains details and information that help business to achieve specific goals and objectives.
Business plan is usually preferred by new business start-ups, entrepreneur before establishing
business make plan which contain step by step guide and roadmap that lead to success of the
business firm (McKeever, 2016). Standard business plan include all the necessary information
such as operational and financial plan. This study is based on Unique designer, the company is
established in UK. Unique designer provide high quality trendy and fashion clothes, the have
range of fashion and beauty products. In this report we will provide executive summary and
business description of the company, later in this business plan we will discuss goals &
objectives, market and financial information, operational plan and management and at last we
will provide strategies for growth and development.
MAIN BODY
Business summary and overview: the overview of this section provide details and information
of Unique Designer, the company was established in UK. The company main goal is to provide
high quality designer clothes in reasonable prices range, Unique Designer hold the vision of
increasing the product chain with ranges of clothes. The company have vision to become
marketing leader of clothing industry. Mission of Unique Designer is to become industry king
and expand their clothing store in various city and their branches around the world. The
company's purpose is to provide high quality clothes and satisfy their customer.
Objectives of Unique Designer:
SMART Objectives: smart objectives provide structured tool in development of working plan.
Specific: specific means one single objective which need to be achieved,In fashion industry
specific means something unique, a unique product or unique design of the product (Bjerke and
Renger, 2017). Unique Designer have to specify their objectives to better understand them and
achieve objectives in specific time.
Measurable: measurable mean selecting what need to be measured to show impact or success,
In fashion industry growth is measured with achievement of the company. Unique Designer have

to measure their objectives for example if the company wants to increase the sales by 10% this
month they have to measure the sales by its percentage.
Achievable: every company should set goals and objectives according to their capacity, when
objectives are achievable, it becomes easy for team to understand and attain the objective. For
Unique Designer, if they plan to increase sales by 50% in a month then it is impossible for the
company to achieve them, but is the set it to 5 or 10% then it becomes achievable.
Relevant: there no result of meaningless objectives, irrelevant objectives tend to slow down the
growth of the process. Unique Designer have to set objectives that should be relevant to them,
for example, if the company decide to renovate parking lot of their stores rather than stores, than
there is no meaning of doing that. For them relevant objectives are to renovate the stores of the
company.
Time bound: every goal and objectives is time bounded, they need to be completed on time.
When company set time for every objective, employee stay active while completing the objective
as they have deadline and have to report in specific time (Hertsyk, 2016). For Unique Designer,
setting time for each of their objectives will help them to keep their staff active. For example if
the company tend to increase sales by 10% this month, they have set time frame to achieve the
objective in one particular month.
Market information of fashion industry:
Market information of the business plan helps business to understand the market and its
components, the core elements are:
Industry analysis: industry analysis is most common tool to assess the market and help business
to understand the dynamic nature of the market, there are various type of industry analysis such
as:
SWOT Analysis: this analysis help business to understand their strength and weakness, with
swot analysis business can identify opportunities and threat that revolve around the business
environment (Sarsby, 2016).
Strength analysis: fashion industry is one of the most powerful and valuable industry, every
human being wants to look good while dressing. Unique Designer provide high quality products
in reasonable rates, their strength lies in its unique design and rich classic and heritage brand.
The company provide different section for junior and women clothing.

Weakness: fashion industry is powerful but weaknesses lies in companies of fashion sector, the
company, Unique Design have weakness which do not allow company to enjoy good sales such
as it is new business start up so people do not know about the company.
Opportunities: the opportunities lies in weakness of every business, when business try to target
the weakness, opportunities automagically arise around them. Opportunities for Unique Designer
, its unique product design and trendy clothes in the section, the company is looking to
collaborate with one major brand to increase the sales and to give little push to the growth.
Threats: every business faces threats mainly from its competition. Competitors are real headache
for business with same industry, competitors of Unique Designer are big, already established
brands. One of the major competitor of the company is Wolf and badger, they have range of new
trendy clothes and their brand name keeps them ahead in the market.
PEST Analysis: pest analysis helps company to understand the external environment and how
they impact the business.
Political: political factors play an important role in almost every business, government provide
various rules and regulation to fashion and clothing industry. For Unique Designer, the
government instructed them to purchase fabric from local market rather than exporting from
other country.
Economical: the economical factor have vital role in income of the people, the economy is still
recovering from the COVID-19 impact. People tend to spend less on buying clothes, people of
middle and lower class have limited income resources, they usually prefer local retail stores for
their cloths shopping (Yang, Song and Tong, 2017). Unique designer need to target both middle
as well as lower income level groups.
Social factor: social factors of fashion industry means trends among people, the behaviour of the
people in buying clothes impact the growth of the fashion company. For Unique Designer, social
factor plays a vital role, the company need to understand the buying behaviour of the customer.
People especially young generation prefer new design and trendy clothes. The company need to
target young generation to grow in this market.
Technological: technological factor impact business in positive way, every business now can be
operated from advance technological platforms. In fashion industry, technological factor plays an
vital role, people these days do not prefer shopping from stores and malls, rather everybody uses
e-commerce platform to order clothes online. For Unique designer they need to focus more on

online appearance of the company or brand, they can use various platform to sell their products
or affiliate with one major e-commerce website.
Porter five forces:
Rivalry in the industry: almost very industry have huge competition, competition selling the
same product impact the sales of the company (Bruijl, 2018). In fashion industry, there is lot of
competition. Unique Designer have to face huge competition even after its unique product
design, for them there main competition is already established brands.
New entrants: every industry face entry of new competitors in the market, these new entry not
only tend to copy products, but they sometimes even copy the management and operational style
of various companies. In fashion industry, there is huge growth in number of new entry. For
Unique Designer, they are also a new entry in fashion industry. The company need to bring
something new to survive in the market.
Substitution: when these new entry enter the market, they first try to copy the product of
existing companies. In fashion industry, there are little or no substitute products in the market.
For Unique Designer they have to bring their own style of clothing, they can not steal design
from existing brands (Ripsas, Schaper and Tröger, 2018). The company have its own unique
Design which keeps away from the threat of substitution.
Supplier power: the power of supplier is low in fashion industry, supplier carry various powers
with them such as providing essential raw material which required in production. They know the
company will going to contact them in supply of raw material, for Unique Designer they need to
find supplier who is ready to provide essential raw material at reasonable cost. There are so
many suppliers who is ready to provide raw material require in production of clothes.
Buyer power: the bargaining ability of people are very strong, customer tend to bring down the
price of the product. Customer are in various segments such as if an individual is buying things
only then they will not bargain or bargain at reasonable limit but if the buyer is purchasing
product in bulk then they will bargain the price of the product.
Target market analysis:
Target market analysis helps business identify their customer and quantify them into various
segments. Target market analysis include:
Segmentation: segmentation tool divide customer in various segments, these segments are:

Demographic; demographic means' customer's age, gender, education, liking and disliking.
Business have verity of products, so they need to understand the demographic of the customer to
sell the product (Pires and Stanton, 2018). Unique Designer have to examine their customer and
make marketing plan accordingly, as the company sells clothing product they need to divide their
customer.
Targeting: after segmenting the customer, business get idea and details whom they have to
target. Targeting refers to reaching specific audience to sell them product of the company. For
Unique Designer, after segmenting the customer, they have to choose which one will work the
best and which segment will bring better results. Targeting one particular segment at one time
will allow company to measure the improvement required in next segmentation.
Positioning: this is final step in the process, this is most important part of the process also
because if the business do not understand how they can position their offering to the particular
segment, they will not success in marketing strategy. Unique Designer have to position their
offering to chosen target, the company need to use position tool to understand the process such
as unique selling point. It helps business to differentiate product from their competitors. This will
help Unique Designer to position their offering.
Operational plan:
Operational plan means details that outline the main activity an organization take during a
particular period (Almeida and Santos, 2020). Operational plan is very important, without it team
member can lose vision of task scheduling. The operation is a section of business that explain
company's objectives, goals, process and procedure.
strategy Action Target Responsibility
Reduce cost To reduce cost Unique
Designer have
negotiated with
suppliers
Reduce production
cost by $1000 this
month.
Production manager
Improve productivity Identify less active
staff and weaker
points in production
cycle.
To increase more
productivity in staff.
Manager

Improve quality To improve quality the
Unique Designer have
to focus on using more
high quality raw
material
To improve quality,
the company have to
detect quality control
at final stage of the
product.
Quality inspection
team
Strategies for growth and development:
Market penetration: market penetration helps organization to increase market share of
particular existing product (Andaleeb, 2016). In successful promotion of product various
strategies are been used such as advertising, packaging style, discount offer etc. Unique Designer
have to use market penetration strategies to win the market. The company can decrease the price
of the clothing product to attract new potential customer, lowering the price will create short
term expansion strategies to compete in competitive market.
Product development: in this strategies business develop new product in existing market, new
product development give company wide range of product chain. Unique Designer have to
development a new product that capture the market, they can acquire competitors existing
product and add various resource to create new better product. The company can bring new
product by improving their existing product. New product that fulfil the demand and satisfy the
need of the customer will increase the sales as well as create brand image.
Market development: market development means entering in new market with existing product.
Market development also means expanding in various new geographic region or country, if the
company have advance technology then they can enter new market easily. Unique Designer is
new start up which mainly sells product in its home county or area, for them market development
is not an option. They can adopt market development after the success of the company, this will
help them to cater various customer segment. Market development strategies of Unique Designer
will help them to enter new domestic market.
Diversification: diversification means entering new market with completely new product. This
type of strategies are the riskiest, when business enter in completely new market with new
product they have risk of failing because the company do not have idea of that particular market.
Unique Designer should not use this strategy for their business expansion, as the company is

related to fashion industry, there is less risk associated with new market because every body need
clothes and fashion is most common thing in the world.
Financial information:
Break even analysis:
Particular Amount
Sales- 3000 units @ $100 per unit 300000
Less:
Cost of Good Sold 140000
Variable cost 10000
Fixed production cost 150000
Gross margin
Less:
Selling expenses
Variable cost 40000
Fixed production cost 10000
Net income before taxes 100000
No of units produce 3000
Selling price per unit 1000
Variable cost 70
Fixed cost 30000
Break even formula: fixed cost/ (selling price — variable cost)
Break even= 30000/ (1000-70)
Break even= 1000
Profit and loss:

Particular Amount Amount
Sales 1000000
Cost of good sold 500000
Gross profit 500000
Operating expenses 60000
advertising 80000
rent 10000
payroll 5000
Salaries and wages 50000
Depreciation 10000
Commission 5000
Other expense 10000
Total operating expenses 230000
Operating income 210000
Non operating income
Revenue from interest 10500
Total non operating income -10000
Net income 195000
Balance sheet:
Liabilities Amount Assets Amount
Capital 100000 Land & building 100000
Reserve 50000 Plant & machinery 80000
O/S expenses 10000 Furniture 20000

Loans 80000 Stock 10000
Creditors 20000 Debtors 20000
Bills payable 10000 Bills receivable 20000
Cash 20000
Total 270000 Total 270000
CONCLUSION
In this report we have discussed business plan, business plan helps new start up to manage and
operate the process of the business. This report provides executive summary and business
description of Unique Designer, later this report give idea of SMART objectives. SMART
objectives helps business to achieve specific objective in particular period. Later in this report we
have analysed the strength and weakness of the business and understand the opportunities and
threats that revolve around the business. This report also provide details about pest analysis and
porter five force model. Business plan include STP analysis which gives idea about customer
base, later in this report operational plan have been discussed and financial plan of the business.
At last this report provide strategies for growth and development for business.

REFERENCES
Books and journals
Almeida, F. and Santos, J.D., 2020. 3 Operational Plan.
Andaleeb, S.S., 2016. Market segmentation, targeting, and positioning. In Strategic Marketing
Management in Asia. Emerald Group Publishing Limited.
Bjerke, M.B. and Renger, R., 2017. Being smart about writing SMART objectives. Evaluation
and program planning, 61, pp.125-127.
Bruijl, G.H.T., 2018. The relevance of Porter's five forces in today's innovative and changing
business environment. Available at SSRN 3192207.
Hertsyk, A., 2016. SMART goal setting in business plan.
McKeever, M., 2016. How to write a business plan. Nolo.
Pires, G. and Stanton, J., 2018. Ethnic marketing. Routledge.
Ripsas, S., Schaper, B. and Tröger, S., 2018. A startup cockpit for the proof-of-concept.
In Handbuch entrepreneurship (pp. 263-279). Springer Gabler, Wiesbaden.
Sarsby, A., 2016. SWOT analysis. Lulu. com.
Yang, S., Song, Y. and Tong, S., 2017. Sustainable retailing in the fashion industry: A
systematic literature review. Sustainability, 9(7), p.1266.
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