Business Plan Report: Launching The Ultimate Shop Retail Business

This report presents a comprehensive business plan for 'The Ultimate Shop,' a new retail venture in the United Kingdom. It analyzes the target market, which includes both online and offline retail sectors, focusing on clothing and groceries. The report conducts a thorough competitive analysis, identifying key competitors like Marks & Spencer and Amazon, and addresses the challenges of a highly competitive market. An internal analysis highlights the venture's strengths, such as a diversified product portfolio, affordable pricing, and a strong supply chain, while also acknowledging weaknesses like inexperience and limited resources. The plan outlines necessary resources, marketing strategies, a cash budget, and legal requirements for operation. It emphasizes the importance of adapting to e-commerce trends and managing competition from both large and small retailers. The report concludes with an overview of the venture's strategic approach to establish itself in the market.

Launching a New Venture

Table of Contents
INTRODUCTION.................................................................................................................................3
MAIN BODY........................................................................................................................................3
Business Plan.....................................................................................................................................3
Competitive Analysis........................................................................................................................4
Internal Analysis of new business venture.........................................................................................5
Resources..........................................................................................................................................7
Skills and capabilities........................................................................................................................8
Marketing Strategy............................................................................................................................9
Cash Budget....................................................................................................................................10
Legal Requirements.........................................................................................................................11
CONCLUSION...................................................................................................................................12
REFERENCES....................................................................................................................................13

INTRODUCTION
Business venture is projected as all such business organisations aims to earn profits in
against to the operations they have undertaken. This report will emphasis on different factors
related to launching a new business venture. The organisation is engaged selling different
retail products online and offline. This report will focuses on the target market new venture is
associated with. Competitive analysis will also conduct in this report. Strengths and
weaknesses part of the business organisation will also analysis. Resources needed for the
business venture will also analyse in this report. Furthermore in this report different skills
will also project that is needed for the new business venture owner and employees to get an
effective success for the business venture in target market. Report will also provide a brief
overview over the suitable marketing and promotional strategies that can improve the growth
of the new business venture call The Ultimate Shop. Comprehensive cash budget will also be
a part of this report. Different legal requirements requires to fulfil for the business venture to
operate in market will also evaluate in this report.
MAIN BODY
Business Plan
Target Market
The Ultimate Shop is a retail sector organisation based in United Kingdom. Company
sale all different retail products at all its shops in different locations of UK and also the online
mode of selling will also channelize to conduct the business. Retail sector based in United
Kingdom will be the target market business the new business venture. Retail sector is among
the major growing market sector in United Kingdom. Product portfolio of the retail sector
comprises with basic products requires to love the life for human beings such as clothing line,
home and food products. Business venture will serve all groceries and clothing range for all
genders and children’s also (Berry, 2017). Due to the product portfolio of the sector the
requirements in the market is also huge for the sector. Business venture will also serve
clothing line irrespective of any gender and age group basis of customers in market. Target
market of new business venture will also involve online retail market. As The Ultimate Shop
will sale its products at all different e-commerce sites like Amazon and other websites. E-
commerce has played a significant role for the business environment to boost the growth rate.
E-commerce trade will allow new business venture to enhance the target market. This will

allow The Ultimate Shop to cater the products all across the United Kingdom irrespective to
any physical shop. This has expanded the business scale for the new business venture.
Competitive Analysis
Retail market is a major competitive market involve in business environment of
United Kingdom. Retail sector of United Kingdom is considering the growth rate of 10% that
projects the level of demand in UK of all different retail sector products. Retail sector is
contributing at the rate of 5% in the GDP growth of country. All such figures and statistics
indicate about the heavy demand of all different retail sector products in United Kingdom.
High growth rate and demands always attract to huge level of market competition. Retail
market of United Kingdom involve big brands like Marks and Spencer, Asda, Wall mart,
Tesco and also comprises with small business houses (Boso and et.al., 2019). All these
leading brands of retail market serves a high level of market competition for all the small
business and new entrants in the market. New business venture would have to compete with
companies like Marks and Spencer and also with all retail shops, clothing outlets in United
Kingdom. Asda Business venture is the leading organisation part of the retail sector in United
Kingdom. All these big brand swill serve the high level of competition to the Ultimate Shop.
I case of retail market competition not just receive by companies and business venture from
big brands and big organisations along with small stores like departmental store and shops
also serve high level of competition. The Ultimate Shop will have to deal with the aggressive
competition from all such small organisations and business ventures operate in United
Kingdom.
The Ultimate Shop will entertain aggressive level of competition from all top brands
based in United Kingdom associated with retail sector. Business venture will sale its products
at all its shops at different locations of United Kingdom along with it will sale its products at
internet through the website of company and other e-commerce sites. The Ultimate Shop will
touch both the mediums internet and offline shops. New business venture will have to face
competition from all the top brands part of the retail sector in United Kingdom. Companies
like Amazon and other e-commerce companies would give tough competition to The
Ultimate Shop the new business venture. Ecommerce is the new way of doing business in
United Kingdom (Chen and et.al., 2020). E-commerce in United Kingdom has been the
dominating aspects involve in retail sector. Market share of e-commerce trade in retail market
of United Kingdom is approximately 25% as per the recent statistics. Ecommerce businesses
are growing at the rate of 10% in the retail market of United Kingdom. Different e commerce

retailers like small stores, grocery stores, clothing outlets and other small departmental stores.
All such small business entities will also provide effective competition to The Ultimate Shop.
Competition for The Ultimate Shop will be much more aggressive in clothing line.
Clothing is the most dominating product part of retail sector. Brands like Jockey, Armani,
FENDI and all other top brand involved in clothing will provide a high level of competition
to The Ultimate Shop. Clothing line consists up with high profit margins that attract most of
the company to be a part of the market. Along with top level brands involve in clothing many
other local brands will also serve high level of market competition to The Ultimate Shop.
Internal Analysis of new business venture
Internal analysis of The Ultimate Shop wills project about the strengths of the
business venture and also the weaknesses associate with the business venture.
Strengths of The Ultimate Shop
The Ultimate Shop is engaged with the following strengths that will support the
organisation in getting the effective success in target market.
Diversified products: Product portfolio of The Ultimate Shop is vast in nature. Business
venture will offer multiple products in clothing and groceries. Different verities are available
in all the products lie groceries different brands are available and in clothing line organisation
are offering all top brands to its customers (Ensign and Woods, 2016). The new business
venture will allow the customers to visit all top level brands associated with clothing and
groceries. Product portfolio plays a huge role for the business venture to get success in
market. With the support of diversified product portfolio the business venture will gain an
effective success in market. The product portfolio of The Ultimate Ship will allow the
business venture to serve all kinds of target customers based in retail sector. Irrespective to
any gendre, class and economic background this product portfolio of the business venture
will allow it to offer the needs of all different customers in retail market.
Affordable cost: The Ultimate Shop is aiming to serve the best quality products at the most
affordable price range. The objectives of the new business venture are to meet the all
different requirements of the customers related to groceries and clothing line at the best prices
possible. It becomes important for the new business venture to restrict its profitability at the
initial years of business to establish a potential customer base around the business.
Affordability is always a huge concern for all the customers associated with the retail market.

With the support of affordable prices The Ultimate Shop will be able to address all different
customer segments in market (Fisher and et.al., 2017). This also allows the new business
venture to create a vast range of potential customer base irrespective to any social and
economic background. In the initial years The Ultimate Shop will provide effective discounts
to all customers so that potential level of sale can be generated irrespective to aggressive
level of market competition from all other competitors. This will be a major strength for the
business as it will allow organisation to engage with customers along with the fact that the
organisation is a new entrant in market. Low cost strategies always work in favour of the
organisation especially in case of business venture is looking to establish itself in market.
Strong supply chain management system: The Ultimate Shop has framed strategic
alliances with all the potential dealers in retail market of United Kingdom. Supply chain
management always a basic requirements of any organisation aiming to involve in the
business in retail market. Strong supply chain management of the new business venture is the
key strengths of the business venture. Supply chain will allow The Ultimate Shop to serve the
latest products to its customer base (Horwitz, 2020). In case of clothing segment of retail
market fashion and latest trend play an important role to gain the customer attention. All
customers look to buy trendy clothing products to meet its needs. Strong supply chain
management system will allow The Ultimate Shop to serve all the latest trendy and
fashionable clothing products to all its customers.
Weakness of The Ultimate Shop
Weaknesses can be projected in following points.
Inexperience in operations: The Ultimate shop is the new organisation part of the retail
market. The organization has just initiated its business operations. The management has no
previous experience of operating business in retail sector. Experience always play a
significant role in dealing with competition, market requirements and all other kinds of
demands associated with business (Kim and et.al.,2018). Due to inexperience in conducting
the business operations it can prove as major disadvantages for the business organisation.
Inexperience will restricts the company in taking competitive advantages in the market. This
can b projected as the negative side of The Ultimate Shop.
Limited resources: Resources are identified as all the sources that can allow the organisation
to achieve all different objectives behind the business. The Ultimate Shop has juts initiated its

business operations. The organisation is at the initial level of business life cycle. Due to the
initial stage of business the resources of the organisation is also limited I number. This is the
negative side of business that has a low amount of resources as compare to all other top
leading retail brands. Limited resources always restrict the business in achieving the best
level of work efficiencies.
Aggressive market competition: Retail sector is one of the most competitive market sector
parts of the business environment. Heavy product demand of the sector caters aggressive
level of market competition (Kowalik, Danik and Sikora, 2017). This is another key negative
side of the new business venture. Aggressive market competition always cuts the market
share for the organisation. This also restricts the organisation i taking competitive advantages
in market. This results into low market presence of organisation.
All the above points projected different strengths and weaknesses new business
venture is involved with. All the above analysis projected different strengths and weaknesses
new business venture has been a part off.
Resources
Resources are the sources that allow the organisation to achieve all different
objectives of the business. Resources of The Ultimate Ship are segregated into tangible
resources and intangible resources. Tangible and intangible resources have its own
significance in market. Both kinds of resources contribute in its own way for the organisation
to achieve the objectives of business.
Tangible Resources: Tangible resources are such resources that can be touched or see from
eyes. Tangible resources directly contribute in the business operations of venture (Mota and
de Castro, 2019). The Ultimate Shop is the new entrant in market which also denotes about
the limited amount of tangible resources. Organisation hold tangible resources like
employees, assets of company, bank balance, machineries, equipments and other such items.
All the tangible resources can be physically experienced by the organisation. All these
resources directly contribute in the business functions of The Ultimate Shop. Tangible
resources play a crucial role for the organisation to operate a business functions. Direct
involvement of tangible resources makes them more significant for the business organisation.
Intangible Resources: Intangible resources are such resources that can’t be touch and see by
a human being. Intangible resources can never be witnessed at physical level. Intangible

resources comprises with resources like goodwill, brand value, customer interest and other
intangible resources. All such intangible resources play a crucial role for the organisation to
gain an effective presence in market. Intangible resources also play role in enhancing the
growth of the company in market (Njau, Mwenda and Wachira, 2019). As the customer
loyalty, brand value and goodwill play huge role for the business ventures to achieve all
different objectives of the business. Intangible resources boost the growth of the organisation
at different level. As The Ultimate Shop is a new business venture the intangible resources
are also minimum in number for the organisation. It becomes more crucial for the
organisation to utilise the intangible resources in more specific manner to achieve the overall
objectives of the business functions.
The above points project all the different resources organisation hold as a part of
business operations.
Skills and capabilities
In order to achieve growth and suitability business ventures needs to possess skilled
work force. Following methods will drive the employees of the new business venture to grow
all different skills needed to achieve growth in market.
Training: Business management can plain professional training program for its employees to
improve different skills like Information technology, communication, decision making and
other associated skills. Training will boost the potential of the employees in organisation to
achieve the bets level of work efficiencies.
Encourage employees: Management of The Ultimate shop will also encourage employees to
grow all different skills like communications skill, decision making skill and other associated
skills (Satterwhite, 2018). This is an important way to improve the capabilities of employees
of organisation to conduct the business operations. This will improve the interest of
employees of the new business venture to achieve the high level of work efficiencies.
Both the methods are effective techniques to grow skills in employees.
Marketing Strategy
Marketing is defined as promoting company’s products and services in front of the
target customers of the organisation. All the marketing strategies support the business
organisation to achieve all its objectives behind the business operations. In vase of The

Ultimate Shop different marketing strategies can be channelizes that can support the
organisation to achieve all its business objectives.
Paid advertising: This is the most common marketing and promotion strategies organisation
use to conduct the brand promotion. In this strategic tool The Ultimate Shop will run the
advertisement videos over various advertising platforms, like; TV, newspapers, radio, bill
boards, banners and posters (Sundaram, Sharma and Shakya, 2020). All these platforms for
promotion and marketing activity will allow The Ultimate Shop to attract al different
potential customers for different products of the organisation. Marketing is an important
strategic choice for the business venture to entertain with all different potential customers
available in the market. Paid advertisements will allow the organisation to gain an effective
brand vaue over different national level marketing platforms.
Social media marketing: Social media marketing involve promoting company’s products
and services at different social media networks. This is among the key strategic tool used for
promoting company’s products and services in market. In this strategic technique The
Ultimate Shop will channelize promotions at different social media networks like; Facebook,
Instagram, Twitter. Social media advertisement allow organisation to reach millions of
potential customers available on the internet (Suzuki and Vinocur, 2018). Internet is no
remaining restricted into a certain limit. This strategy can support the Ultimate Shop to
channelizes brand promotion at global level. In case of the promotional video get viral than
the organisation will have a global base of brand value irrespective it is a new entrant in the
market.
Sponsorship: Sponsorship is another effective technique to conduct the promotion of
company. In this approach sponsorship is granted to some famous personalities in UK that
can promote company’s products at their own channel and networks. This is an old technique
of getting the brand opr product success in market. This strategy is still very successful in
market. This marketing strategy will allow The Ultimate Shop to entertain all its business
objectives.
All the above mentioned points have projected about all different promotion strategies
available for The Ultimate Shop. All these strategic choices will allow the organisation to
meet up all different objectives of business. All these strategic choices will enable The
Ultimate Shop to attract the potential customers available in market on behalf of the business
organisation. The strategies are useful for both the cases pre launch and post launch period of

business. Even at the post launch all these strategies will provide a strategic advantages to the
business venture.
Cash Budget
Cash budget is a projection of all different cash expenses of the organisation. This
cash budget will involve all the potential expenses new business venture will entertain in its
pre-launch and post-launch time period. Cash budget for pre launch can be projected in
following manner.
Cash expenses Amount (£)
Legal expenses £700
Promotion and marketing £1500
Raw materials £2700
Salary and wages £1500
Transportation cost £1700
Total £8100
The above mentioned cash budget denote all the expenses in cash nature The Ultimate
Shop need to entertain in the post period time. Post launch time of the organisation will also
requires liquidity for the organisation to entertain its expenses. This cash budget will target to
18 months post period of launching.
Cash expenses Amount (£)
Legal cost £300
Promotion expense £1700
Raw material cost £1500
Salary and wages cost £700
Transportation cost £500
Total £4700
The management of new business venture can support its future activities with these
cash budgets. The budget will help in guiding towards controlling all different cash form
expenses of the organisation.

Legal Requirements
Legal requirements are defined as all such formalities business organisations need to
entertain in process to conduct business. These are compulsory activities organisation need to
involve with in order conducting the operations. Following are the key requirements The
Ultimate Shop needs to entertain in doing business.
Registration: Registrations are the primary activity a business venture needs to entertain in
conducting business (Uy and et.al., 2017). The Ultimate Shop needs to get itself registered to
get the legal authority from the government to conduct the business operation. Taking license
wiull support the business venture to get the security of the name so that no other entity can
use this name in future in case the organisation gain the huge success in the market.
Contract Law: In order to conduct the business operations the Ultimate Shop needs to
engage with many stakeholders associated with retail sector. Various brands, suppliers’
network and many other stakeholders. Contract law support the business venture to establish
strategic alliances with all these stakeholders. By establishing a contract The Ultimate Shop
will gain a strategic right over the terms of contract. This is a legal formality the business
venture will require to entertain in order to conduct the business operation.
Employment Law: Employment law project the legal requirements organisation needs to
entertain order to provide employment opportunities to all different graduates and
professionals (Wilson, 2017). This is another key legal requirement The Ultimate Shop needs
to meet up. Different laws like equality, anti discrimination, equal rights and many other
rights The Ultimate Shop will require coping up with for doing business operations.
The above mentioned legalities organisation needs to be a part off in order to conduct
the business operations. All these legal regulations have its own implications in running
business venture.
CONCLUSION
This report has concluded target market for the new business ventures. Competitive
analysis has projected the key competitors like Marks and Spencer and many other
competitors for the new business venture. Strengths such as diversified products range,
affordable cost and weaknesses like not so experience work force has also summarised of the
new business venture. Tangible and intangible resources are te two types of resources

organisation is associated with in order to run the business venture. Different tactics like
training for employees and motivating employees to learn new skills in order to enhance the
potentials of employees part of the organisation. Marketing can be conducted with the
support of different techniques like social media marketing, sponsorship and other methods.
Legal regulations like employment act, contract act ad other regulations needs to fulfil.
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