Business Plan Project: Clothywear, UK Retail Venture Analysis

This business project presents a comprehensive business plan for Clothywear, a proposed UK-based retail venture. The report begins with an executive summary and introduction, outlining the rationale, vision, mission, and objectives of the business. It then delves into the business concept, including product description, target market (men, women, and children), positioning strategy, and value proposition. A literature review provides industry analysis. The project employs secondary data methods to analyze market research, market analysis, product and service feasibility, organizational and financial feasibility. The analysis extends to strategic considerations, identification of competitive advantages, selection of success strategies, and the development of an appropriate business model. The plan includes a feasibility study, with analyses of the market, product, organization, and financial aspects. The project concludes with an evaluation of the business plan, addressing its viability and critical success factors. The report aims to identify the importance and impact of marketing strategies for small businesses in the UK, assessing the opportunities and challenges faced by such ventures. The business plan focuses on providing high-quality, trendy clothing at affordable prices, emphasizing sustainability and customer satisfaction.

BUSINESS PROJECT

EXECUTIVE SUMMARY
The purpose of this report is to develop a new business idea with new innovation and
creativity. The main aim of this project is to identify the importance and impact of marketing
strategies over for small business in development of its venture within the United Kingdom. For
conducting the report, the main purpose is to develop a business plan that provides better
products and services in market form other companies. The method which is chosen for this
project is secondary data method. It helps in collecting information through different sources
such as articles, journals and publication. This project helps in providing the description of the
business concept, product description, target market, positioning strategy and window of
opportunities. Thus, it also covers industry analysis and feasibility analysis in order to provide
detailed information related to the chosen products and services.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
CHAPTER 1: INTRODUCTION....................................................................................................5
The Rationale of business opportunity........................................................................................5
Scenario chosen...........................................................................................................................5
Vision..........................................................................................................................................6
Mission........................................................................................................................................6
Aim..............................................................................................................................................6
Objectives....................................................................................................................................6
Structure of the business plan.....................................................................................................7
Chapter 2 The business concept.......................................................................................................1
Introduction.................................................................................................................................1
Description of the Business Concept..........................................................................................1
Product/service description.........................................................................................................1
The Target Market......................................................................................................................2
Positioning strategy.....................................................................................................................2
Value added.................................................................................................................................3
Who is involved..........................................................................................................................3
The window of opportunity.........................................................................................................4
Chapter Summary.......................................................................................................................4
CHAPTER 3: LITERATURE REVIEW.........................................................................................5
Introduction.................................................................................................................................5
Industry analysis.........................................................................................................................5
Conclusion..................................................................................................................................7
Chapter 4 Feasibility/Methodology.................................................................................................8
4.1 Introduction...........................................................................................................................8
4.2 Market Research....................................................................................................................8
4.3 Market Analysis..................................................................................................................11
4.4 Product and service feasibility............................................................................................13
4.5 Organisational feasibility....................................................................................................14

4.6 Financial feasibility.............................................................................................................15
4.7 Chapter summary................................................................................................................15
CHAPTER 5- ANALYSIS OF THE BUSINESS MODEL..........................................................16
Introduction...............................................................................................................................16
Strategic analysis of the new or existing business idea.............................................................16
Identification of sources of competitive advantage and sustainability.....................................17
Selection of strategies for success.............................................................................................18
Development of appropriate business model............................................................................19
Chapter summary......................................................................................................................21
CHAPTER 6: EVALUATION OF THE BUSINESS PLAN........................................................22
6.1 Introduction.........................................................................................................................22
6.2 Overall assessment of the business plan.............................................................................22
6.3 Business plan schedule........................................................................................................22
6.4 Business viability................................................................................................................25
6.5 Critical success factors........................................................................................................25
6.6 Chapter summary................................................................................................................26
REFERENCES..............................................................................................................................27

CHAPTER 1: INTRODUCTION
The Rationale of business opportunity
The reason behind choosing this business idea is due to the emergence growth in retail
sector. Nowadays, people are adopting new and trendy clothes in order to improve their standard
of living (Muthu, 2020). Fashion has changed and shaped the lives of people and also they
demand high quality of clothes which makes them satisfied (Majumdar, Garg and Jain, 2021).
Nowadays, companies are reducing the quality of clothes along with the cost. It is one of the
important reason due to which investigator has selected the current business idea of establishing
new retailer brand of clothes in UK. It is being stated that Clothywear has emerged due to the
reason that companies are selling low quality of products at high price. The main motive of this
brand is to offer high quality of clothes to its customer at affordable and reasonable price which
helps in creating strong customer base and also increases the market presence of Clothywear. In
order to increase its presence in market, there are various marketing strategies which can be used
by company such as social media marketing, content marketing, internet marketing, email
marketing and direct selling (Palominos, Quezada and Gonzalez, 2019). Through implementing
these marketing strategies, Clothywear can reach to maximum number of customer and provide
brief description about its product and its quality. The marketing strategy of Clothywear is to use
TV ads, social media platforms, content marketing and email marketing in order to promote their
business in UK market. Marketing strategies creates a great impact on the business performance
and productivity. The opportunities that small business can be gained while developing their
business are access to new market, improving profitability, creating strong customer base,
advanced technology and access to talented manpower (Birt, 2021). Clothywear is focusing on
producing better quality of clothes which includes good quality of material, natural fibres are
used and also inspect the clothes on every stage of production. The brand offers trendy and
fashionable clothes to its consumers in order to make the feel satisfied and happy while wearing.
Scenario chosen
The scenario chosen for this report is establishing new retail business that offers wide
varieties of trendy and fashionable clothes to its customers. For developing the venture, company
is focusing on using different marketing strategies that helps in attracting large number of UK
customers due to which the profitability and growth of business increases. The clothing brand

changes the market by offering premium quality of clothes to its potential customer at reasonable
price. Organisation is also focusing on maintaining sustainability by reducing the negative impact
on the environment (Soltani and Azar, 2021). The brand is unique as they bring creativity and
trendy clothes for its consumers which helps in improving their dress sense and also improves
their living standard. Clothywear focuses on implementing marketing strategies in order to
increase their presence in UK Market. Through using marketing strategy, company can promote
their product and also attract large number of audience towards the brand.
Vision
The vision of Clothywear is to offer excellent quality of clothes which helps in improving
customer experience and also protect the environment. They are focused on maintaining
trendiness of fashion and leading change towards renewable and circular fashion. The brand is
committed to offer high quality of products and services to its customer by contributing to the
sustainable development of society. Vision statement of Clothywear reflects long term goal and
also it depicts about the new things which they are bringing in order to remain competitive in
market. The company thinks that they can achieve success in market by offering their consumers
trendy fashion and lifestyle.
Mission
The Mission of Clothywear is to bring positive changes in society by reducing negative
impact on environment through implementing sustainable practices. Clothywear offers unique
designs of clothes and also improves the fashion sense of customers. There motive is to offer
premium quality accessible to everyone through the range of its products. It generally outlines
that company is selling better quality of products and also diversifying their offerings. The
organisation develops the products by offering value for money so that they can attract more and
more customer towards the brand.
Aim
To identify the importance and impact of marketing strategies over for small business in
development of its venture within the United Kingdom: A study on ClothyWear
Objectives
 To identify the types of marketing strategies used by small business within the UK

 To determine the impact of marketing strategies over for small business in development
of its venture within the United Kingdom
 To evaluate the opportunities that small business can be gained while developing their
business in the UK
 To examine the challenges that could be faced by small business while developing their
business in the UK
Structure of the business plan
The business plan is related with establishing new clothing business as organisations are
offering low quality of products to its customer at premium price. The reason behind opening
new venture is to provide better quality of clothes to its customers.
Within the business plan, different aspects of the business are discussed so that a new venture can
be established in better manner. The business plan is going to be discussed about the description
of business concept, product description, target market, positioning strategy, value added, who is
involved and the window of opportunity. It also focuses on conducting feasibility analysis in
which different models are implemented. Further the report also covers, market research, market
analysis, product feasibility, organisational feasibility and financial feasibility. Besides this an
analysis of business model is also conducted by including the strategic analysis of business idea,
identification of sources of competitive advantage, selection of strategies for success and
development of business model. Thus, this report covers various factors which are included for
establishing and operating the business activity in smooth and efficient manner.

Chapter 2 The business concept
Introduction
The major goal of this market study is to comprehend the new market and determine the amount
of competition inside the UK market. Clothywear works in the retail industry, which provides a
greater range of clothing to its clients in order to create more profit and brand image in the
market. The company should concentrate on gathering market data so that it can plan and create
plans properly (Uotinen, 2019). Customers, rivals, and a variety of other aspects must all be
considered when gathering market data.
Description of the Business Concept
The business plan is about starting a new clothes business because organisations are selling low-
quality products at a high price to their customers. The goal of starting a new business is to give
higher-quality clothing to its clients. Clothywear works in the retail industry, where it offers a
wider variety of clothing to its customers in order to increase profit and brand awareness. The
organisation should focus on acquiring market data in order to properly plan and make plans.
When acquiring market data, customers, competitors, and a variety of other factors must all be
taken into account. The rivalry in the UK market is fierce, as many competitors such as Marks &
Spencer, ZARA, and others offer distinctive clothing products to their clients. To achieve a
competitive advantage, Clothywear must concentrate on assessing the level of competition.
Product/service description
Product and service are one of the main elements in determining the overall appeal of a proposed
product or service. When starting a new business concept, it is critical to examine a number of
important factors so that the firm can operate effectively and efficiently. The product or service
desirability and the overall start up cash required are the two key components of product and
service feasibility. The viability of a product or service is crucial to an organisation since it aids
in the creation of new business. Product attractiveness is the first factor to consider when
determining whether a product or service is desirable and meets a market demand. The other
component is total start-up capital required, which focuses on determining the amount of money
needed to start a business Schmidt and et.al., 2019).
In order to build a loyal client base and acquire their devotion to the brand and product,
the brand focuses on providing higher-quality products and services to its customers. The brand's

product focuses on attracting more customers by providing sustainable apparel so that they can
concentrate on reducing negative environmental impact. Clothywear's product appeals to people
since it provides high-quality clothing to its consumers by employing high-quality fabrics and
materials. Through a product feasibility study, a company can develop product demand among its
clients, resulting in increased profitability and business sales (Kotarba, M., 2018).
The Target Market
Men, women, and children of all ages are among Clothywear's target customers. They frequently
focus on giving higher-quality products and services to their clients in order to expand their
consumer base and boost growth. Market analysis is the process of determining the size of a
market within a specific industry. By undertaking marketing analysis, a corporation can lower its
risk and make better business decisions. In general, market analysis focuses on giving data about
customers, companies, competitors, and other market characteristics. It assists businesses in
determining supply and demand for specific goods and services. The goal of market analysis is to
help businesses understand how markets work and how they affect the poor. Customer
description, customer perception, market trends, market projections, and competition are the six
basic components of market analysis (Efimov and et.al.,2019).
Positioning strategy
Using social media marketing tactics, the organisation aims to reach a larger audience.
Companies can utilise a variety of social media marketing tactics to promote their products,
including Facebook, Instagram, YouTube, and a variety of others. These platforms feature a large
number of active users, allowing businesses to reach a large number of potential customers.
Clothywear provides a variety of services to its consumers, including delivery, customer service,
and more. Through effective services, a company can attract an increasing number of customers,
resulting in increased revenue and improved performance. Clothywear focuses on selling
products at a low cost that meet the needs and demands of customers. The company is focusing
on opening a store in London, UK, as well as offering their items on various internet platforms to
reach a bigger audience. To attract clients, the company should focus on promoting its brand so
that buyers are aware of Clothywear's sustainable clothing options. The acts by which a
corporation promotes its products and services in an effective and efficient manner are referred to
as promotion. Along with it, Clothywear focuses on promoting their brand and products using
social media marketing and print media in order to reach a wide number of customers and tell

them about Clothywear's products and services. The company is focussing on creating a strong
presence on social media marketing platforms such as Facebook, Instagram, and YouTube in
order to increase profitability and sales. That is why, Clothywear should focus on diversification
strategy because it is one of the most effective tactics a company can take when starting a new
business in a new market. It is the riskiest strategy, but it also gives Clothywear with a slew of
advantages, like access to new markets, new customers, more revenue, and a slew of other perks.
This strategy helps the company reach a bigger audience, allowing it to generate more and more
money while also establishing a strong customer base by offering high-quality products at a fair
price (Radina, A, 2021).
Value added
E-commerce clothing will help them to attract more customers towards their organisation
by building high brand position in the mind of their selected audience. The company Clothywear
can offer high quality fashion product through online ways due to which customer can buy
product even while they are sitting at their home (Gereffi, 2019). The company will provide the
fashion products which will full-fill the needs and wants of everyone present in their region. Due
to Covid-19 the concept of e-commerce has taken a huge rise because of the social distancing and
many other restrictions faced by the general public in this pandemic time. They can attain huge
success in their future by manufacturing high quality and trendy fashionable products for their
customer. By adopting online selling application the management of the company can be able to
offer great customer experience to their customer and they don't feel frustration while making a
online purchase from their official application. Higher authorities of Clothywear should always
keep their eyes on the activities done by the competitors. The company should be able to convey
their value proposition properly to their customer’s. The management of the company should
implement new and modern manufacturing machinery in their production house which will
enhance their overall performance.
Who is involved
Clothywear should have the proper knowledge of their stakeholder present in their
company. Without having the adequate knowledge of their customers and markets then the
chances will increase of getting failure in future. Clothywear have to manage various group of
stakeholders who have the direct impact on their organisation. Trade organisation, suppliers,
sponsors, buyers, distributors are the main stakeholder of Clothywear. Stakeholder will decide

the future of the company. The management of Clothywear has to develop such kind of rules and
regulation which is suitable for all the stakeholders present in their organisation. It is very
important for Clothywear to have a proper communication and collaboration with their
stakeholder in order to get success in their upcoming future. This stakeholder will have the major
role in making the important decision in the company. Stakeholder are the one who provide
valuable resource in their organisation which will allow them to successfully run their business
operation effectively and efficiently (Helmold and Samara, 2019).
The window of opportunity
In today's world, fashion companies have numerous kinds of opportunities in their sector.
In case of Clothywear they can utilize these opportunities in order to increase their business
performance and overall productivity (Ryan, 2020). By adopting these various possibilities and
opportunities it can help them to enhance their revenue and profit. Social media is one of the best
platforms which can help the company Clothywear to interact with their customers. Through this
they can properly convey information of products and services to their target audience. The
company can collaborate with various fashion influencer which will endorse their brand to their
fans in result to this it will increase their sale. Fashion industry is a multibillion-dollar industry in
which small company can to their business and attain higher level of success in short period of
time (Ki, Chong and Ha‐Brookshire, 2020)
Chapter Summary
As a result of the above information and facts, any new business concept should concentrate on
doing proper market research on the trends of the market and the preferences of the customers.
As this research allows the company and its new idea to find the way to run its business
effectively and efficiently. The data collection approach is used to conduct the market analysis
and research. In order to create the firm successfully, this research includes product and service
feasibility analysis, organisational feasibility analysis, and financial feasibility analysis. As a
result, the following material comprises all of the techniques that a company may use to attract
more and more customers to their brand, as well as many marketing strategies that can be used to
improve business performance.

CHAPTER 3: LITERATURE REVIEW
Introduction
Literature review helps in determining the impact and importance of marketing strategies
within the small business for gaining high growth and success in the competitive market.
Marketing strategies are defined as the tools of marketing the company product and services in
the market so that more and more customers can be gained for purchase. Marketing is defined as
the business strategy that organisation use for promoting the quality products and services for
increased profitability in the business market (Nikolic and Kostic-Stankovic, 2022). The main
idea of the company is to open a new venture in the business market in order top sale high quality
clothes to large number of customers by targetting large share in the market. They generally
targets customers of young age as they are more interested in trying new patterns of clothes and
the help the company in increasing their brand value and image in the market for gaining high
accessibility and variability in the market. The company also uses various social marketing
methods for promoting the good and services so that they gain competitive advantage over other
competitive companies existing in the business market.
Industry analysis
Porter's five forces analysis
Threat of new entrants – With the changing market trends, fashion also keeps on changing
which results in changing the taste sand preferences for the clothes in an effective manner. There
are so many companies that exist in the clothing fashion industry that provides good quality
goods to the customer in order to make them satisfied by wearing them (Wilson, 2020). It is
important for Clothywear to focus on the customers demands so that they produce products
according to their tastes and also target right types of market so that right of customers can be
gained by the company ion the market. For entering into the market of fashion industry it is
essential for the company to promote their products through different social media channels in
order to gain high profitability and growth in the competitive market. But while setting up the
new business organisation the company might face the problem of new entrants as clothes are the
most demanding thing by the customers which they generally want at reasonable prices.
Threat of substitute product – Threat of substitute product is the major problem that
Clothywear might face at the time of establishing new business in the market because customers