MS4LC40O - Business Plan: After Market - Sustainable Fashion LSST UK

This report outlines the business plan for "After Market," a venture focused on creating a sustainable online marketplace for fashion and home decor items. The plan details the business's services, which include facilitating the sale and acquisition of pre-owned goods through an online platform with premium membership options. It supports the idea with statistical data highlighting the growing trend of sustainable fashion and online shopping, noting the increasing consumer interest in second-hand products and the environmental concerns associated with fast fashion. The report covers key aspects such as market demand, trends, target customer availability, professional management, and expansion strategies. It identifies competitors like Walmart, Wayfair, and Home Goods and includes a breakdown of investment costs, including rent, equipment, staffing, and legal expenses. The return on investment is projected to be favorable, driven by the potential for growth and profitability in the sustainable market. The document concludes that the business plan is a critical tool for guiding the company's operations and ensuring its success in a competitive environment. Desklib provides access to similar solved assignments and past papers.

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Table of content
 Introduction
 Outline of the product or service idea
 Statistical data to back up the idea
 Investment used in activities
 Conclusion
 References

INTRODUCTION
 Business is defined as the legal entity which is
engaged in various activities such as commercial,
industrial and others. Business in involve in producing
as well as selling products and services that have
value for customers.
 Developing new business is the process of starting
new venture with unique ideas that differentiate brand
from others and attract large number of customer base.

Outline of the product or service idea
Business and service information:
 Business name: After Market
 Our services: Organisation provides services related to social network site that
allow or facilitates user to sell and acquire fashion as well as home décor items
through using online medium.
 Source of capital: Bank loan
 Business location: Welwyn Garden City, Hertfordshire, England, UK

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 Products and services are defined as the physical and
tangible items that have value for customers and they are
agree to purchase them against monitory value. Before
launching new products in market, entrepreneur conduct
depth research to analyse needs and demands of customers,
market trends and other factors.
 It helps business to develop products and services
accordingly that satisfy needs and demands of customers
and retain them with organisation for longer period of time
with organisation.

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 Along with these facilities, After Market provides
facilities of premium membership to use the online
service platform that offers some special privileges to
both buyers and sellers.
 Through using this application, buyer can negotiate
with sellers on the bases on quality of rented or sold
products, there is also After Market guide is provides
that make it easy for buyers and sellers to use the social
networking site in efficient manner (Enriquez 2017).

Statistical data to back up the idea
 In current business environment customers as well as
organisation concentrates on sustainable concepts and
business add the concept in organisational operations that
provides sustainable competitive advantages to business.
 With raising trend of sustainable fashion as well as online
shopping are the major factors which are in the favour of
After Market and support it its success. Now these day,
consumers are more concerned regarding environment and
its damages by fashion industry especially fast fashionable
products.

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 Now customers want to acquire quality products at
affordable prices that enhance their satisfaction level.
Sale of second-hand products is raised that helps other
customers to get desirable products at lower prices.
 36.2 million consumers sold pre-owned apparel
through online medium in the year of 2020 for first
time. Along with that, researched related to e-
commerce keywords like resale and pre-loved that are
associated with the term of second-hand shopping.

Inevitability of idea
Business Summary
After Market is a company which is providing understanding
needs of customers to not repeat clothes. People does not wants
to repeat clothes as they wants to wear unique clothes in every
event they wants to attend. It increase needs to second hand
clothing and home décor products.
 Market Demand
 Market Trends and Condition
 Availability of target customers
 Professional management of workers
 Expansion and growth

Location of business
The overall location of organisation is Welwyn Garden City,
Hertfordshire, England, UK although organisation provides its
product and services such as home décor and fashionable items
through online modes or websites.
There was no physical location in initial times because of availability
of limited capital budget so there will be functioning by use of online
platforms only. But with time there will be a physical set up that will
be done at this location.

Competitors
It is very important for organization to analyze current or potential
competitors of brand because they can impact organizational
performance and functionality in negative manner. Competitors are the
organization that deals in similar products and services to customers.
There are various sites that deal in similar products create threat for
business. Some competitors are mentioned below:
 Walmart
 Wayfair
 Home goods

Return on investment
 Return on investment in this plan is more as it consist potential to get growth in market. It
provide profitability opportunity to business it require less cost and more return which create
favourable situation for entrepreneur.
Particular Amount (Pounds)
Rent for space 5000
Equipment 15000
Staff sharing 1000
Legal formalities 5000
Vehicle on rent 5000
Laptops and systems 10000
Total 50000