Report on Bonmarché's Business Plan and Growth Planning Strategies

This report provides a detailed analysis of Bonmarché's business plan, focusing on growth strategies for the SME. It begins with an introduction to growth planning and its importance, followed by an executive summary outlining the company's vision, mission, and product offerings. The report includes a comprehensive market analysis, incorporating SWOT and PESTLE analyses to identify strengths, weaknesses, opportunities, and threats, as well as political, economic, social, technological, environmental, and legal factors. Marketing and sales strategies are examined, along with the organizational structure and management practices. The report also presents financial plans, including start-up expenses and assets, and explores exit strategies such as liquidation, legacy, selling in the open market, and mergers and acquisitions. The conclusion summarizes key findings and emphasizes the role of business plans in facilitating growth and expansion. References to academic sources are also included.

PLANNING FOR
GROWTH

TABLE OF CONTENT
 INTRODUCTION
 Business plan
 Exit strategies
 CONCLUSION
 REFERENCES

INTRODUCTION
 Growth planning or planning for growth is a process through which businesses plan,
co-ordinate strategies in order to track down their business activities and growth.
 This process also involves allocation and investment in sources in order to adapt
changes which are caused by external environment such as competitors or industrial
changes etc.
 This report is prepared for Bonmarché an SME, which was founded in 1982 operates
nationwide, and also considered as UK's one of the biggest budget fashion retailers

BUSINESS PLAN
Executive summary
 Business plan contain future strategies, activities and task that the company is going to
perform in order to increase sales and profit margin of the company thus helps in
achievement of organisational goals. It provides brief of company vision and vision and
the way they have to be achieved. Company is planning to launch a new product for this it
had conducted market analysis that help it in identifying various threats and opportunities
for company. It also helps in identifying and choosing best source of finance that helps in
increasing profit margin of company. Thus, business plan promotes growth and expansion
of business in new market by analysing various environmental factors.

Cont.
 Company Description: Bonmarche was founded by Singh Chima in 1982 and one of the largest retailer selling women wear
operating its business worldwide and by July 2002 it is acquired by Peacock Group.
 Vision: “To provide and maintain high standard customers services”.
 Mission: “Is to make mature women look fabulous and attractive by providing clothing in stylish design, affordable price and
size range from 10 to 24”.
 Product and service Description:It provides wide varieties of product such as casual and formal separate, nightwear and
accessories. Company is able to gain competitive advantages due to its specialization in plus size clothing and all design for
larger women.
 Market Analyses: It includes complete analysis of market such as its size, number of competitors, customers buying patterns
and condition of economic environment. Thus, company by conducting market analysis is able to gain competitive advantage.

Cont.
Swot Analysis:
 Strength: Company strength lies in highly establish brand image of the company as it
provide quality and unique product to its customers. Thus, effectively customers services
has lead to increase in sales and profit margin of the company.
 Weakness: Lack of capital due to improper functioning of financial department of
Bonmarche which lead to delay in expansion of business.
 Opportunities: Company can easily market its business to large number of customer's by
promoting its product online through use of social media.
 Threats: Political instability and increase in number of competitors in retail industry are
two threats company is facing in expansion of its business.

Cont.
Pestle Analysis:
 Political Factor: Due to Brexit, UK is suffering political instability which has impact adversely on the
functioning of business. Its sales and profitability had been decrease due to reduction in import and
export of country, purchasing power of consumer.
 Economical Factor: Due to recession in UK economy employment rate increase, low disposable income
of customers and high debt of government and people living in the society. Thus, company sales has
been decreased so it can expand its market share by entering into new market.
 Social Factor: It refers to the preference, needs and value of people living in the society it has positively
impact on Bonmarche as able to expand its market share by offering clothing for larger women or plus
size clothing.

Cont.
 Technological Factor: Continuous updation of technology, innovative product design and
offering quality services is able to gain competitive position in the market.
 Environmental Factor: Company has abided to environment protection law while
performing its operations in order to protect environment and health of people living in the
society.
 Legal Factor: Discriminative law, employment law and health and safety laws have been
considered by the company while providing its services to customers. Thus, company by
conducting its operation as per ethics is able to build and maintain strong brand image of
the company.

Cont.
Marketing strategies and sales strategies
 Bonmarche uses various marketing strategies in order to influence customers to purchase their
company products. Company is effectively able to expand its market share by differentiating its
product with other competitors. Price strategies also helps in expansion of business in new market as
the company provide product plus size clothing at reasonable. Strong Brand image of the company
plays an important role in promotion of its product in new market. It can also promote its offers and
various product online by use of social media in order to attract younger generation or large number
of customers. Advertisement through hoarding and promotional events are some method that can be
used by company in making aware to customers about the product. Thus, company by effectively
using all such marketing and sales strategies is able to expands its business in new market.

Cont.
Organisation and management
 Bonmarche is a large organisation that operates its business across various nation with 380 stores
and over 4000 employees working for achievement of organisational goals. It follows functional
structure that means it divides various department on the basis of function performed by each
department of organisation. Since its large company roles and responsibility of each individual
are clearly defined and helps in smooth operations of business. Effective management and
coordination of individual goals toward organisational goals helps in achievement of company
objectives. Manager of Bonmarche use various techniques to motivate employees to improve its
performance for achievement of company goals.

Cont.
Daily operations
 Day to day operations of Bonmarche company will be to manage human, physical
resources of the company. To provide continuous qualitative product or services to
customers, ensure availability of cash, raw material for smooth operations of business.
Market analysis in order to gain competition advantages in the market by adapting to
various changes of environment.

Cont.
Financial plans and projection:
Start-up expenses Amount (£)
Legal 2500
Promotional material 1000
Contractors 800
Insurance 300
Computers 100
Others 500
Total 5200