Entrepreneurship in Global Environment: Fashion Frame Business Plan

This report presents a detailed business plan for Fashion Frame, a fashion retail company launching in Portugal. The plan outlines market analysis, targeting women aged 24-40 in Lisbon and the Hispanic community. It describes the company's organizational structure, emphasizing cross-functional teams and research & development. The product strategy focuses on medium-range clothing for women, with a marketing strategy incorporating product, pricing, and promotional elements. Financial projections aim for a 30% return on investment in the first year, with the company seeking to expand into accessories. The report utilizes qualitative and secondary research methods, drawing on journals and websites to analyze the Portuguese fashion industry and the competitive landscape. The methodology emphasizes ethical considerations and the use of content analysis. The goal is to establish a successful fashion retail business in Portugal, offering chic and fashionable clothes at affordable prices.

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Entrepreneurship in a Global Environment 1
Contents
Introduction............................................................................................................................................1
Methodology..........................................................................................................................................2
Business Plan.........................................................................................................................................3
Market Analysis.................................................................................................................................3
Organization and Management..........................................................................................................4
Products and services.........................................................................................................................5
Marketing Strategy............................................................................................................................5
Financial Projections.........................................................................................................................6
Conclusion.............................................................................................................................................9
References..............................................................................................................................................9

Entrepreneurship in a Global Environment 2
Introduction
The purpose of this paper is to enlighten the reader about the information about the company
Fashion Frame. The paper highlights details about the business plan of the company Fashion Frame.
Business plan of the fashion retail business is created to outline the areas from which the company
can raise funds in the environment. The major objective of the company is to raise funds through
various sources in the environment. Further, Fashion Frame is a fashion retail organization
inaugurating in the country Portugal that aims to provide highly chic and fashionable clothes to the
present in the market. The objective of the organization is to offer valuable products to the customers
at affordable prices in the market. Further, the company aims to organize the business by
diversifying the business line in clothing product line. The company successfully wants to progress
in the clothing line and if all will go well then they are aiming to further expand its scope of business
accessories market. Through this type of expansion, the company is aiming to provide a complete
package of clothing along with matching accessories as well (Abou-Shouk, Lim, and Megicks 2016).
Further, being placed in the Portugal environment, the organization holds varied opportunity in the
environment to grow in fashion industry and expand its scope of business as well. The apparel
industry is one of the most important industry of the Portugal economy as this industry makes up to
15 % of the total export. Also, the country is largest exporter in Europe, so it can be said that most of
the fashion trends that people of Europe adopt are directed by the Portuguese market only. The
biggest fashion company present in Portugal is Modalfa Comercio e Servicios with a market value of
614 million dollar. Further, it should also be noted that there is high degree of competition in this
industry (Kahia 2017). Competition is a good as well as bad sign for the budding companies. It is a
good sign because it helps the management to know that there is high profitability in the industry for
the companies are fighting and it is bad because they will also have to fight tough competition to
sustain their image in the environment.
Further, the below mentioned plan is going to outline the market analysis in which the company
Fashion Frame is going to organize its business that is fashion merchandise industry. Further, the
plan also highlights the organization and management of business functions of the company along
with elaboration of products and services offered by business (Fernandes, Madeira, and Pereira
2019). The latter part of business plan explain the marketing strategies of the company along with

Entrepreneurship in a Global Environment 3
financial projections explaining the ways in which the company will raise funds to organize its
business functions effectively in the target market. The objective of the business to set the business
in front of right customers present in the market and deliver quality products and services to satisfy
them. The company also aims to earn 30% of return on investments in its initial year only so as to
expand further in new product line of accessories.
Methodology
The paper is formed using qualitative research method along with which secondary research method
was used in the paper to attain details about the market and the competitors as well. The type of
research that will be used in the paper is qualitative research to gather an in-depth understanding of
the fashion industry present in the external environment and ways to raise funds for a start-up
business. The discipline investigates ‘why’ and ‘how’ of the decision making process. Besides this,
the paper is also going to examine the phenomenon through observation of market opportunities and
secondary data research initiated. Various journal articles, books and authentic websites have been
used to deliver the correct and crucial information in the paper (Kumar 2019). The paper highlights
plan for the company Fashion Frame with the help of which they can effectively raise funds from the
external environment.
Qualitative research conducted is a primarily exploratory research that is used in the paper to gain an
understanding of the underlying reasons, motivations and opinions as well. The paper provides
insights into the problem and helps in developing the ideas and hypothesis for the potential
qualitative research. This type of research is based on facts and theories to gain better understanding
of the structured techniques that are going to be implemented in the paper. Qualitative research as
well as quantitative research has been induced in the paper to analyse information about the
opportunities for the clothing start up in the external environment (Flick 2015). Qualitative research
refers to the methodical research conducted in order to attain observations from the non-numeric
data. This type of research refers to the concepts, models and description of things and not the count
or measures. This research is method used to explain information only about the cases studied in the
environment. Quantitative research is based on facts and findings present in the environment as this
type of report make use of mathematical and statistical information to prove the instances. Further,

Entrepreneurship in a Global Environment 4
secondary research involves the collection and synthesis of existing research. Secondary research is
conducted on the basis of existing research present in the environment (Silverman 2016).
In the process of secondary research various journals, books and websites have been used to analyze
information about Fashion Frame. Resources that belong to the time frame of 10 years have been
used in the paper to maintain its effectiveness. Some common journals used in the paper are:
 International Journal of Organization Management
 Kogan Page Publishers.
 Industrial Marketing Management
Content analysis was used to analyse the data that was gathered from the secondary sources of
information. Data analysis helped in collecting information based on theme of the paper, further it
also helped in simplifying the data while producing results at the same time. Lastly, it should also be
noted that the current study was conducted with subject to certain ethical issues. The information
provided in the paper does not harm the interest of any person present in the society nor does it
provide irrelevant or fake information in the paper. Quality of the paper and integrity was assured
and paper was performed using relevant sources as no copying of the data was initiated. The paper is
relatable and independent as well (Huarng, Rey-Martí, and Miquel-Romero 2018).
Business Plan
Market Analysis
The primary target of the customers of the company Fashion Frame is female belonging to age group
24 to 40 years. These are the people who live in Portugal only as the start-up will initially as the
company will supply its products in Portugal only. Also it should be noted that as the company is
aiming to settle in Lisbon so the business will aim to capture maximum segment of people living in
Lisbon only. As the company will open its store at the most attractive mall in Lisbon so they will
target the residential community as their primary customer (Bagozzi, et. al., 2018). Further, the
secondary target customers are the people belonging to Hispanic community in the area. The
Hispanic population belong to the country Spain which is adjacent to Portugal so the company will
also aim to target these people so as to initiate its sales in the target environment. As the Hispanic
population continuously grow so it would be profitable for the company to attract should people in

Entrepreneurship in a Global Environment 5
the environment. Along with this, the business will also aim to target the female belonging to age
group 41 to 55 years. People belonging to this age group would be secondary target customer for
Fashion Frame as the core target of the company would be to provide chic and fashionable clothes to
female belonging to middle age group (Leite, Fernandes, and Leite 2016). Further, the last target
customer of the company would be people belonging to higher income level customers present in the
market. The company is initially set up for the customers belonging to middle age group as their
main focus is to provide products at affordable prices in the market. However, the company still
expect to see an assortment of curiosity seekers and local residents from the society along with
seasonal purchasers present in the environment (Okonkwo 2016).
Organization and Management
It should be noted that the management of the company Fashion Frame aimed to implement cross
functional team approach in the business environment. The company has different types of
employees present with them that help them to clearly attain advantage of different segments of the
market. The human resource of the company efficiently provides brainstorming ideas to the business
so as to maintain the pace and grow in the environment. The skill and enthusiasm of the employees
are more likely to help the company expand the level of profits in the environment. All the
employees of the company have gained specialization in different departments (Blackwell 2017).
Further, the fact should be noted that the business Fashion Frame should make use of a business plan
that determine the customers and appeal to them as well. There are three major areas where the
business needs to currently focus on; these areas are centralized operations, regional operations and
store operations. The centralized operation includes duties like store planning and HRM, store
operation includes the process of merchandizing and marketing functions performed at the store.
Lastly, regional operations refer to the process of distribution and warehousing (Chernev 2018).
It is important to note that the clothing industry in Portugal is fragile as it is extremely flexible so it
is important for the business to setup a department for research and development. The research and
development department will help the management of company to attain information about the
market and its fluctuations so as to deliver the best quality service that the business can provide to
the customers in the target market. The research will provide high tech technology to company to as
to provide efficient products to the customers at low rates as well (Singhal 2016).

Entrepreneurship in a Global Environment 6
Products and services
The products provided to the customers in the Portugal clothing environment are medium range
clothing products for mostly middle aged women. The company provides a wide range of clothing
products to the customers in its retail store. Along with that, the business is aiming to provide
medium range economic products to the customers that are chic and classy as well. Apart from the
clothing range will target a larger segment in the market but mainly it will target people belonging to
age group 24 to 40 years. Lastly, there are no core services that the company offer apart from the
additional services that the employees provide along with the main products in the environment
(Scarborough 2016).
Marketing Strategy
Product: The Company is aiming to provide clothes in the target market. The clothing range of
Fashion Fame Company includes providing fashionable and chic products to the customers in the
target market. It is important to note that the products offered in the market would be presented in
the retail stores of the company that would further help the customers to attain the products and
services. It should be noted that the business will further provide on sale and after sale services to the
customers in the market. The front line employees will offer satisfaction to the customer by
addressing their issues and showing them the product that they want in the market (Aaboen, et. al.,
2017).
Price: The price of products of the company is kept flexible so that the customers can easily afford
the products in the environment. Economic prices are offered to the customers in the market that will
help low income level as well as medium income level people to come and purchase the products
from the company. Cost effective techniques have been used in the paper to highlight the product in
the eyes of customers and make them purchase it as well. Along with the cost effective feature,
products offered are qualitative as well (Kuratko, and Hornsby 2017).
Place: The Company is going to offer its products in the external market of Portugal as the business
is going to target the clothing industry of the country. Initially being a start-up organization, the
company aimed to initiate the demand in the Portugal market only. The company is going to set up
its store at attractive places where the people usually visit on regular basis like in malls and near
movie theatres. So, it should be noted that the company has selected the right places where they

Entrepreneurship in a Global Environment 7
should settle in the environment. Initially the company is aiming to capture internal demand of
Portugal as they understand the taste and quality people want from clothing industry (Brown, R.,
Mawson, and Rowe 2018).
Promotion: Under the promotion strategy, the business is aiming to operate on the digital media
marketing strategy so as to initiate success for the business. The fact should be noted that the
company aims to use only social media marketing strategy as they believe that all other tools of
marketing have become ineffective and they do not attract people in the environment. So, the fact
should be noted that the digital media market strategy would be used by the company to attract
customers in the market of Portugal (Burns, and Dewhurst 2016).
Financial Projections
So as to finish the funding necessity of the business, the administration aims for taking advance from
the financial institutions and proprietor's reserve. It is trusted that the proprietor's value is best source
of reserve for a sole ownership business as it doesn't make trouble on the proprietor and it is
anything but difficult to pay also. Further, the second source of fund for the business is bank credit;
the organization took advance from the money related foundations and put it in the business. The
third and last wellspring of account for the organization was credit from family. Further, underneath
are the designation of assets for the organization (da Silva, Amaral, and Neves 2016).
Owner’s Capital: $ 10,000
Loan from financial Institution: $ 10,000
Family’s Equity: $ 10,000
Balance Sheet of Fashion Frame
Month Apr 19 Apr 20 Apr 21
Assets
Current Assets
Cash on hand $
10,000.0
0
$
3,000.0
0
$
2,000.0
0
Debtors $
100.00
$
200.00
$
500.00
Prepaid Expenses
General $ $ $

Entrepreneurship in a Global Environment 8
100.00 100.00 100.00
Rates $
50.00
$
50.00
$
50.00
Workcover $
25.00
$
25.00
$
25.00
Insurance $
40.00
$
40.00
$
40.00
Etc.
Total Prepaid
expenses
$
215.00
$
215.00
$
215.00
Inventory
Raw material $
3,500.00
$
2,500.0
0
Total Inventory $
200.00
$
1,750.0
0
$
1,980.0
0
Short term
Investments
$
50.00
$
500.00
$
500.00
Other current
assets
$
-
$
270.00
$
250.00
Total Current Assets $
10,565.0
0
$
5,935.0
0
$
5,445.0
0
Fixed Assets
Store Fit Out $
500.00
$
1,000.0
0
$
1,100.0
0
Office Equipment $
200.00
$
300.00
$
400.00
Buildings &
improvements
$
300.00
$
3,000.0
0
$
3,000.0
0
Furniture &
Fixtures
$
600.00
$
600.00
$
600.00
Etc.
Total Fixed Assets $
900.00
$
3,600.0
0
$
3,600.0
0
Total Assets $
11,465.0
0
$
9,535.0
0
$
9,045.0
0
Liabilities
Current Liabilities
Bank Overdraft $ $ $

Entrepreneurship in a Global Environment 9
- 500.00 300.00
Credit Card Debt $
500.00
$
500.00
$
500.00
Creditors $
300.00
$
700.00
$
800.00
GST collected $
-
$
200.00
$
200.00
Superannuation $
-
$
50.00
$
200.00
PAYG Witholding Payable $
-
$
100.00
$
100.00
Workcover Insurance Payable $
-
$
300.00
$
300.00
Current portion of long term debt $
200.00
$
700.00
$
800.00
Etc.
Total Current Liabilities $
1,000.00
$
3,050.0
0
$
3,200.0
0
Long Term Liabilities
Motor Vehicle
Loan
$
500.00
$
500.00
$
200.00
Equipment Finance $
500.00
$
1,000.0
0
$
1,500.0
0
Long term Loans $
5,000.00
$
2,000.0
0
$
1,000.0
0
Total Long Term Liabilities $
6,000.00
$
3,500.0
0
$
2,700.0
0
Total Liabilities $
7,000.00
$
6,550.0
0
$
5,900.0
0
Net Assets $
4,465.00
$
2,985.0
0
$
3,145.0
0
Shareholder’s Funds ( Equity)
Owners Funds $
2,544.00 $(2,908.
50)
$(5,675.
63)
Retained Earnings $
-
$
-
$
-
Current Year
Profit
$
1,921.00
$
5,893.5
$
8,820.6

Entrepreneurship in a Global Environment 10
0 3
Total Shareholder’s
Funds (Equity)
$
4,465.00
$
2,985.0
0
$
3,145.0
0
The above mentioned forecasted balance sheet explains the ways in which income was utilized and
the financing activities of the company that the company will initiate in three consecutive years. The
financial projection explains that company will grow profitability in near future (Wright 2018).
Conclusion
Thus, in the limelight of above mentioned events, the fact should be noted that the above mentioned
paper highlighted information of about a start-up organization developed in the country Portugal.
The organization is aiming to enter in most attractive market of the country that is apparel industry.
The name of the start-up venture is Fashion Frame. The above mentioned report highlighted details
about the environmental analysis of the country along with the target market that the company is
going to attract. Further, the information about the business structure along with the products and
services of the company has been explained in the paper. Lastly, the financial projections and
marketing strategies of the company explain that how they are aiming to grow in external market.
Thus, it should be noted that I attained optimum knowledge about the process of open a start-up in
the environment after making this paper. Through this analysis, I got to know the tough areas where
the company need to focus and what target market they should select for profitability. I learned
about the marketing strategies and how the company should allocate the funds in the business.

Entrepreneurship in a Global Environment 11
References
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developing country. Tourism Management, 52, pp.327-339.
Blackwell, E., 2017. How to prepare a business plan: your guide to creating an excellent strategy,
forecasting your finances and producing a persuasive plan. Kogan Page Publishers.
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
Singhal, V.K., 2016. Simplifying Ecommerce. International Journal on Recent and Innovation
Trends in Computing and Communication, 4(6), pp.482-484.
Scarborough, N.M., 2016. Essentials of entrepreneurship and small business management. Pearson.
Aaboen, L., La Rocca, A., Lind, F., Perna, A. and Shih, T., 2017. Starting up in business networks.
London: Palgrave Macmillan.
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Routledge.
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crowdfunding: a processual perspective. Industrial Marketing Management.
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Entrepreneurship in a Global Environment 12
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management accounting parcices in the Portuguese textile and clothing sector. The International
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