Detailed Business Plan for Custom Store: Startup Loan Application

This document presents a comprehensive business plan for a custom store, tailored for a startup loan application. It begins with an overview of the business idea, which focuses on providing customized clothing, jewelry, and skincare products based on customer needs and preferences. The plan details the brand's philosophy, target customers, and the use of various promotional channels. It includes personal details of the applicant, including educational background and professional experience. The plan also features a detailed market research section, analyzing the retail clothing and fashion industry, identifying market trends, and positioning the custom store within the competitive landscape. A competitor analysis is provided, comparing the business with existing competitors like J.Hilburn and Skin Ceuticals, highlighting strengths, weaknesses, and strategies to gain a competitive edge. The plan outlines the customer research and marketing strategies. The plan provides a clear framework for the business's operations, ensuring a structured approach to launching and growing the custom store.

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LET’S GET THAT BUSINESS OF
YOURSDOWN ON PAPER…
A good business plan is essential for your Start Up Loan
application. The process of completing it helps you to validate
that your business idea is going to stack up. We’re here to
guide you through the Start Up Loan application process
starting with this business plan template, so you can show us
why your business is going to be a success!
This document is designed to help you create a business plan that is relevant for your
application for Start Up Loan funding through Virgin StartUp.
WHAT MAKES A GOOD BUSINESS PLAN?
Check out our diagram on what makes up a good business plan.
We are big believers in doing as much planning and research as possible before starting your
business – knowing the market and who your customers are will dramatically increase your
chances of success.
The idea, your ability to launch and operate the business, and the logistics, are all very
important considerations but first you need to demonstrate that there are customers for your
business and that you have access to this market.

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WHERE DO YOU START?

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PART 1: YOUR BUSINESS PLAN
BEFORE YOU START Details about you and your business.
1 YOUR BUSINESS IDEA 10
%
Once you have your initial idea it’s important to build up each layer to inform the next. See steps 3 – 6. As you
research your market and customers you should refine and improve your idea to make sure it is something your
customers want.
2 YOU 10
%
We want to know all about you, the brains behind the idea. You’ll be responsible for driving your business forward
so it’s important that we understand a bit more about your past experience and what gets you out of bed in the
morning.
3 MARKET RESEARCH 20
%
Market Research forms the base of a good business plan. You have to know what is happening in your market to
make sure you understand current trends and what your competitors are doing.
4 CUSTOMER RESEARCH 30
%
Once you have established where your business will sit in the larger market, it’s time to think more about your
customers. This is the most important part of the plan and should be given the most attention. It’s really important
that you are able to present your own information that you have gathered yourself directly from your customers.
5 MARKETING 20
%
Now that you know who your customers are you can use that information to make a marketing plan that will help
you launch and grow your business.
6 OPERATIONS 10
%
Premises, staff, suppliers, rules and regulations – Now that you know all you can about your market and customers
you can make an operational plan about how you’re going to pull it altogether.
PART 2: GUIDE TO
COMPLETING
YOUR BUSINESS PLAN
For each of the 6 sections of your business plan noted above there is a handy guide jam-packed with tips, links and
examples. As you work your way through Your Business Plan make sure you benefit from all this extra advice by
selecting‘Click here for more guidance’to link you with the relevant advice for that section. You’ll spot this link throughout
the plan so make sure you use it!
Remember!Completing a business plan for your business is a process of exploration that helps you to look objectively at your idea. A good business is the product

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of refining of the initial idea over time using what you learn through your research and experience with your customers. Listening to and learning from the people
who’ll be paying for your product or service is the key to creating a successful business! Good Luck!

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BEFORE YOU START
We need to grab a few details about YOU and YOUR BUSINESS
Your Name ABC
Your Business Name Custom Store
Describe your business
in one sentence
We make customize clothing, skin care and jewellery products according to customer’s need and
preference.
Your Business Partner MNO and PQR
(if also applying for a Start Up Loan)
Loan Amount
Requested £ 20,000
(Minimum £500 – Maximum £25,000)
To be Repaid over
(months) 30 Months

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Business Website www.customstore. Com
Business Social Media Facebook: @customstore
Instagram: @customyourproducts
Twitter: @customstore
Snapchat: @storeforcustom
Other:
Your Living Costs
1.How do you currently pay for
them?
Operating this business
2. How will you pay for them
when the business launches? Planning to pay living costs from drawings/ salary from this business
Contingency Plan
As this is a personal loan we must
consider how you would be able to
make the loan repayments and
meet your living costs if the
business was to fail or generate
less income than forecast. Please
describe in detail how you would
do this referencing your living
costs, loan repayments, and
earnings ability.
We are insure that our business idea is best which help us in generating high amount of profit so which
can able to repay loan in decided amount. Along with this, we also conduct market analysis for knowing
customers requirement and we find audiences like our ideas of business as well as they are waiting for
the opening of store.

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1. YOUR BUSINESS IDEAClick here for more guidance
What will your business do and what is the opportunity? Describe, in detail, the products and/or services your business will be selling, what
channels you will use to sell them and who you will sell them to. What does your brand stand for? What is the business philosophy and
values? Include any pictures, drawings, or links that help bring this to life.
Our business name is Custom Store we offer customized products according to the customer need and demand. We offer customized
products like clothing, jewellery and skin care products which is totally based on customer’s requirement. In addition to this according to
current situation of COVID 19 we are also offer matching mask with customer choice cloths so that our potential customer is safe.
According to the gap study which we conducted in today’s time every person required something different so that they can flaunt in the
society as well as due to current environment condition people are facing skin problems. So we decided to establish a business which offer
customize product according to customer’s requirement as well as we also have professional or experts who provide suggestions so that
audience needs get satisfy properly or successfully. Due to this reason we come up with idea of custom store. Our business philosophy
and value is to provide best products to our potential customers in customized manner so that they get satisfied and happy. Our brand i.e.
Custom Store stands for a place where individual can make customize products and services according to their requirement as well as for
appealing about it we use different promotional channels such as social media, digital media, TV promotion and many more. Our
customers are all age as well as income group people because we make products according to them. Till now we conduct analysis on
social media so that we can understand audiences reaction but we analysis that society like our store idea as well as we also get
comments that they are waiting for our store as they love the store idea. Our business structure is partnership as we are three partners. In
addition to this we didn’t have any other directors or stakeholders.

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2. YOU AND WHY YOU’RE STARTINGClick here for more guidance
Tell us about yourself, where the idea came from, and how your knowledge and experience will help to make the business a success.
Curriculum Vitae
Name – XYZ
Phone no. – 6537831109
Email ID – [e-mail]
CAREER OBJECTIVE: - I want establish a successful business venture through which I can resolve issues of society in
effective manner.
ACADEMIC QUALIFICATION:-
MBA- University of Dubai
Passing year 2018
BBA- University of Dubai
Passing year 2015
PERSONALITY HIGHLIGHTS:-
 Willingness to learn
 Punctual and Responsible
 Positive attitude
 Hard Working
 Team management
COMPUTER PROFICIENCY:-

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 Operating System: Window XP/07/08/10
 Data base: MS Access.
 MS Office: MS Word, MS Excel, MS Power Point.
Professional area:-
Store manager – Mango Dubai
From 2018 to till now
Entrepreneurial experience-
Establish business of handmade jewellery within University campus during the internship time i.e. for 6 months.
DECLARATION:-
I hereby declare that the above-mentioned information is correct up to my knowledge and I bear the responsibility for the
correctness of the above-mentioned particulars.

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3. MARKET RESEARCHClick here for more guidance
3.1 The Big Picture
Describe the wider market you are planning to operate in and identify where your company will sit in this landscape, as well as any key
statistics or trends to support why you have chosen this area of the market.
I want to establish my business venture into the retail clothing or fashion industry which is one of the biggest industries at which numbers
of companies are operating for gaining high competitive advantages. In respect of my products which are totally based on the customized
concept, the whole market is highly competitive because there are many branded and well known company towards which customers are
attracted. Within the fashion industry there are several niches such as clothing, jewellery, footwear and many more on the other hand
these are considered as niches but it is big in the size as well as in these market there are several competitors are available. There are
several trends are in fashion industry such as customized products, virtual experiences, one size fit cloths and many more. On the other
hand factors which are driving change in trends are customers demand and preferences, change in technology, increase in competition
and so on. Fashion and skin care industry are mature market because in these industry there are several companies who are operating.
No customized products offering is not new for respective business but are offering it with some new innovative features such as we are
also customized products according to the customer’s requirement as well as budget. Along with this, we are also adding additional
products i.e. mask for free so that our customer will safe from COVID 19. According to our research our custom store fit into the middle of
landscape because there are several customers who like to purchase customized products according to their requirement and budget.

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23.2 Competitors
No matter how good your idea is, there will always be other businesses fighting for the same customers – either on price or features or
quality. You need to make sure you understand your competitors’ strengths and weaknesses.
COMPETITOR 1
Click here for more guidance
Name
J.Hilburn
Type of Competitor
Direct competitor- Respective person has established themselves as a custom luxury men wear company which
offer customized suit to dress shirt according to situation.
What will you be
competing on
J.Hilburn offer luxury men wear in the customized manner as well as their product price is high or expensive
which are not afford by all but it can be considered as competitor because customers like to buy branded
products.
Strengths of
Competitor
Strength of J.Hilburn is that they are operating in similar industry from numbers of year as well as they also have
wide numbers of loyal customers.
Weaknesses of
Competitor
Weakness of respective business is that they offer their products at the high price due to which they not able to
attract wide numbers of audiences but we are offering products of different price that can be considered as our
benefit or strength.
Summary of How
you will compete
with them
In order to compete with J.Hilburn our business offer custom clothing, jewellery and skin care products according
to requirement as well as budget of customers. Through this we able to attract wide numbers of customers or
audiences towards our store in successful manner.