BM564 Enterprise & Entrepreneurship: GO BEAUTY Sustainable Plan

This project report outlines a business plan for GO BEAUTY, a company offering chemical-free cosmetic products. The plan includes an analysis of the proposed future business, target customers (B2B and B2C), and competitors like Bloomtown and Awake Organics. It details skill analysis, projected profit and loss, cash flow analysis, break-even point, and funding sources such as crowdfunding. The report also covers plans for obtaining resources, the type of organization (partnership firm), the management information system, and the vision of the business which is to provide organic and chemical-free products. The analysis uses STP analysis, Porter's Five Forces model, and includes appendices with financial forecasts. Desklib offers this document along with a wealth of other solved assignments and study resources to aid students in their academic pursuits.

Growth sustainable
business plan

EXECUTIVE SUMMARY
This project report summarises a business plan in relevance with growth and sustainable
practices. Business idea is based on the company GO BEAUTY company which offers chemical-
free costematic products to their targeted customers.

Contents
EXECUTIVE SUMMARY ............................................................................................................2
INTRODUCTION ..........................................................................................................................1
Proposed future business..............................................................................................................1
Targeted customers......................................................................................................................1
Evaluation of competitors ...........................................................................................................2
Skill analysis for GO BEAUTY company ..................................................................................3
Projected 2 year profit & loss, cash flow analysis and break even point ....................................4
Finding and selecting suitable source for funding ......................................................................4
Plans for obtaining resources.......................................................................................................4
Type of organisation and management information system for the chosen business .................5
Vision of business .......................................................................................................................5
CONCLUION .................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Business plan refers to a descriptive document which outlines objectives of company and
means to attain them effectively by using varied resources (Bridge, 2017). It lays out a roadmap
for differential operations such as marketing, human resource and finance. This project report
highlights varied aspects while creating business plan such as skill analysis, competitors, growth
strategies and many more. Business idea which is discussed in this project about GO BEAUTY
company who essentially deals in costematic products. Company provides organic beauty
products to their customers. This business idea is considered as viable as trend of using chemical
free products has been grown in a significant manner.
Proposed future business
GO BEAUTY company provides costematic products for skin and hair care which are of
organic nature. It is a product based company whose main business is to sell their products to
their customers. Entrepreneurs have opened up this company by researching the issues of people
using chemical based beauty products which has varied side effects (Drobyazko and Et. Al.,
2019) .
GO BEAUTY offers organic costematic products with standards packaging to their
customers. Their products have been made through plant-based ingredients which are grown
without using fertiliser or pesticides.
Intellectual property rights are understood as legal rights which are provided to inventor
or creator in order to protect their innovation for a specified period of time (Durmanov and Et.
Al., 2020). It is imperative for entrepreneurs to register patent of their packaging which has a
print of their logo. They should also register for trademark in order to protect their logo and their
brand name.
Targeted customers
Entrepreneurs of GO BEAUTY company have decided to target B2C and B2B segment
which helps them to make a reach to large number of customers. In order to determine targeted
customers, entrepreneurs of GO BEAUTY company has performed STP analysis. Through this
practice, they have chosen to target customers who are facing issues by using chemical-based
products for their skin and hair care. In STP analysis, they have practised to segregate their target
customers on the basis of demographic and psychographics (Gabler and Et. Al., 2017). They

have chose to target people in UK on the basis of their interests of getting skin and hair treatment
by organic costematic products. After selecting their target market and customers, they can think
of moving ahead with their plan.
Unique selling proposition (USP) of GO BEAUTY company is that they essentially use
organic ingredients without any chemical use. They also use digital marketing for making their
brand viable.
Through organic costematic products provided by GO BEAUTY company, customer
needs of getting chemical-free commodities which will provide benefits to their skin and hair are
fulfilled.
In order to make a research about target market business position, entrepreneurs of GO
BEAUTY company has performed STP analysis and use Porter five forces model. They get
results that this cosmetic products industry is highly competitiveness in nature. In order to set a
market position, they started using social media sites and viral marketing. This business idea is
considered as viable as trend of using chemical -free products is rising with significant rise
(Hopp and Greene, 2018).
Evaluation of competitors
Major competitors of GO BEAUTY company are established and major brands of UK
like Bloomtown, Awake Organics, Odylique and many more who offers organic as well as
natural costematic products.
Industry analysis can be described as an evaluation procedure which ascertain the
competitiveness as well as attractiveness of market and how organisations are handling their
transactions (Matlay, 2019). It aid entrepreneurs of GO BEAUTY company in developing a
strong insights regarding the happenings of a company. In order to conduct an effective industry
analysis, varied steps which are followed by entrepreneurs of GO BEAUTY company are as
follows:
Conduct background research- Entrepreneurs have performed background research
regarding industry analytics which help them to gain valuable insights (Mika and Et. Al., 2017).
They have learn about potential threats as well as competitors.
Collection of data- Next phase is concerned with collecting data through competitor's
website and market analytics. Entrepreneurs of GO BEAUTY company have analyse pricing and
marketing strategies of their competitors.

Evaluation of gathered information- Entrepreneurs of GO BEAUTY company have
evaluated their gathered information and compare it with their strengths and weaknesses.
In order to perform industry analysis, entrepreneurs of GO BEAUTY company can
perform Porter five forces model. Varied elements of Porter five forces framework in relevance
with GO BEAUTY company are as follows:
Competitive rivalry- This force has a significant impact on costematic industry of UK. In
relevance with organic products, differential segments are available such as vegan, plant-based
and natural offered by different companies.
Threat of new entrant- Costematic industry is considered as competitive which attracts
many new entrants. Cost of establishing a new brand and making it viable is a difficult task to
perform for new market entrants
Threat of substitutes- Varied substitutes products are available in relation to organic
costematic products to people. Entrepreneurs of GO BEAUTY company have to evaluate threats
of substitute products offered by their competitors.
Bargaining power of suppliers- There is massive number of suppliers in costematic
industry of UK which led to low power of them. Companies can switch cost as per the
differential dealings offered by suppliers.
Bargaining power of buyers- Varied number of competitors and easy availability of
products has given the high power to buyers in relation to costematic industry (Sheshinski, Strom
and Baumol, 2021). In relevance with GO BEAUTY company, entrepreneurs have to develop
innovative products for engaging people to their brand.
Skill analysis for GO BEAUTY company
Entrepreneurs of GO BEAUTY company has varied skills like communication, time-
management and problem-solving which are helpful for taking the business idea further for
getting success. As it is important to communicate with varied stakeholders in order to make the
terms understand.
It is significant for entrepreneurs of GO BEAUTY company to perform extensive
research about the skills needed for running a costematic business. This will help them to
develop skills needed for running their business smoothly (Tipu, 2018).

It is important for entrepreneurs of GO BEAUTY company to evaluate varied skills
relevant for taking their business further. Varied skills that are needed to entrepreneurs for
become successful in costematic industry are as follows:
Creative mind- It is important for entrepreneurs of GO BEAUTY company to perform
their business operations with creativity.
Knowledge about products or services- It is imperative for entrepreneurs of GO
BEAUTY company to have accurate knowledge about their products and how they are
manufactured.
In order to evaluate skill gap, entrepreneurs of GO BEAUTY company have to make
proper plan which contains their existing as well as required skills. A skill profile can be
prepared by entrepreneurs of GO BEAUTY in order evaluate their skills.
Projected 2 year profit & loss, cash flow analysis and break even point
Covered in appendices
Finding and selecting suitable source for funding
Varied sources of fund in relevance with GO BEAUTY company are as follows:
Personal savings- It is also known as self-funding which essentially focuses on using
own savings for making the business run on a smooth basis. Under this there is no involvement
of loans and investors.
Bootstrapping- Under this, generated funds of businesses are used for covering up the
cost which are needed for further development (Van Dijk, Sergaki and Baourakis, 2019). This
source can work well with the help of strategic partnerships as well as barter arrangements.
Crowdfunding- Through this entrepreneurs can gain massive amount through digital
platforms. This can be done through pitching an innovative idea and creating an appealing
campaign for attracting the investors.
Above all of them, entrepreneurs can chose for a crowdfunding by developing an efficient digital
campaign and pitching their idea of bringing organic costematic products. Through this they can
attract varied investors as well as increase viability of their brand.
Plans for obtaining resources
It is important for entrepreneurs of GO BEAUTY company to breakdown their start-up
cost.

Business functions Estimated cost
Advertisement £20,000
Raw materials £10,000
Wages £10,000
Sales £15,000
Production £10,000
Total £60,000
Type of organisation and management information system for the chosen business
GO BEAUTY company is a sort of a partnership firm as it needs huge financial inputs for
making the business successful.
Management information system refers to advanced process whereby an organisation has
build their computerised data in order to organise their information. Entrepreneurs of GO
BEAUTY company have to adopt inventory management system in order to evaluate their
productivity of operations.
Vision of business
Vision statement of GO BEAUTY company is to provide organics as well as chemical-
free products to people for their hair and skin.
CONCLUION
From the above mentioned information, it has been assessed that it is significant for
entrepreneurs to develop a viable business idea in order to develop their brand. Varied aspects
that are needed to ascertain while framing a business idea are sources of fund, management style,

nature and skills needed by entrepreneur. It is imperative for entrepreneurs to formulate an
innovative business idea in order to make it viable.
REFERENCES
Books & Journals:
Bridge, S., 2017. Is “entrepreneurship” the problem in entrepreneurship education?. Education+
Training.
Drobyazko, S. and Et. Al., 2019. Innovative entrepreneurship models in the management system
of enterprise competitiveness. Journal of Entrepreneurship Education. 22(4). pp.1-6.
Durmanov, A. and Et. Al., 2020. Features of application of innovative development strategies in
international enterprise. International Journal of Entrepreneurship. 24. pp.1-9.
Gabler, C.B. And Et. Al., 2017. Developing an environmentally sustainable business plan: An
international B2B case study. Corporate Social Responsibility and Environmental
Management. 24(4). pp.261-272.
Hopp, C. and Greene, F. J., 2018. In pursuit of time: Business plan sequencing, duration and
intraentrainment effects on new venture viability. Journal of Management Studies. 55(2).
pp.320-351.
Matlay, H., 2019. The future of enterprise and entrepreneurship education. Education+ Training.
Mika, J. P. and Et. Al., 2017. Perspectives on indigenous entrepreneurship, innovation and
enterprise. Journal of Management & Organization. 23(6). pp.767-773.
Sheshinski, E., Strom, R. J. and Baumol, W.J. eds., 2021. Entrepreneurship, innovation, and the
growth mechanism of the free-enterprise economies. Princeton University Press.
Tipu, S. A. A., 2018. Business plan competitions in developed and emerging economies: What
do we still need to know?. Journal of entrepreneurship in emerging economies.
Van Dijk, G., Sergaki, P. and Baourakis, G., 2019. The cooperative enterprise: Practical
evidence for a theory of cooperative entrepreneurship (pp. 1-204). Springer International
Publishing.

APPENDICES
Forecasted profits margin statement
Projected cash flow
Break-even analysis