Premier Avenue Business Plan: Online Fashion and Styling App Project

The business plan details the Premier Avenue project, an online shopping application designed to offer customers fashion and styling advice. The plan includes a comprehensive business summary, market analysis, and financial projections. It outlines the business details, registration information, and organizational structure, along with the management and ownership details. The plan analyzes the target market, competition, and marketing strategies. It also covers the future vision, goals, and action plan for the business, including a detailed project plan and financial forecasts. The financial section includes start-up costs, balance sheet forecasts, profit and loss forecasts, expected cash flow, and break-even analysis. The plan also addresses risk management, legal considerations, and operational aspects, including a sustainability plan. The appendix provides a stakeholder analysis and references, offering a complete overview of the business venture.

Running head: B-PLAN
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Name of the Student
Name of the University
Author Note

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Table of Contents
Business Plan Summary...........................................................................................................5
The Business..............................................................................................................................5
The Market.................................................................................................................................5
The Future..................................................................................................................................6
The Finances..............................................................................................................................6
The Business..............................................................................................................................7
Business details..........................................................................................................................7
Registration details.....................................................................................................................7
Business premises......................................................................................................................8
Business location:......................................................................................................................8
Organisation chart.....................................................................................................................8
Management & ownership.........................................................................................................9
Experience................................................................................................................................10
Key personnel...........................................................................................................................10
Current staff.............................................................................................................................11
Required staff...........................................................................................................................12
Recruitment options.................................................................................................................13
Training programs...................................................................................................................14
Skill retention strategies...........................................................................................................15
Products/services......................................................................................................................16
Market position:.......................................................................................................................17

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Unique selling position............................................................................................................17
Anticipated demand..................................................................................................................17
Pricing strategy........................................................................................................................18
Value to customer.....................................................................................................................18
Growth potential.......................................................................................................................18
Innovation................................................................................................................................19
Research & development (R&D)/innovation activities...........................................................19
Intellectual property strategy...................................................................................................19
Insurance..................................................................................................................................19
Risk management.....................................................................................................................20
Legal considerations................................................................................................................22
Operations................................................................................................................................22
Sustainability plan....................................................................................................................26
The Market..............................................................................................................................27
Market targets..........................................................................................................................28
Environmental/industry analysis.............................................................................................29
Customers.................................................................................................................................33
S.W.O.T. analysis.....................................................................................................................36
Competitors...............................................................................................................................37
Advertising & sales promotion................................................................................................38
The Future...............................................................................................................................39
Vision statement.......................................................................................................................39
Mission statement.....................................................................................................................39

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Goals/objectives........................................................................................................................39
Action plan...............................................................................................................................40
MS Project Plan......................................................................................................................41
Project Plan.............................................................................................................................41
Gantt Chart.............................................................................................................................44
Detailed Project Cost..............................................................................................................45
Resource Overview.................................................................................................................48
The Finances............................................................................................................................51
Key objectives & financial review............................................................................................51
Assumptions.............................................................................................................................51
Start-up costs for [2020]..........................................................................................................52
Balance sheet forecast.............................................................................................................55
Profit and loss forecast............................................................................................................57
Expected cash flow...................................................................................................................58
Break-even analysis.................................................................................................................59
Recommendations...................................................................................................................61
References................................................................................................................................62
Appendix..................................................................................................................................65
Stakeholder analysis................................................................................................................65

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Business Plan Summary
The Business
The business idea which is being discussed can be mentioned to be the Shopping
application which will provide the customers with an opportunity to purchase the clothes online
and in addition to this, it will also be allowing them with an opportunity to engage in styling tips
with the help of which they will be able to engage in successful styling and fashion
opportunities. Through our idea, the firm aims to source its clothes from China and in the future,
it also aims to provide the clothes to the different customers in Australia. The firm will also be
responsible to the different society norms and environmental protection acts. We have
undertaken various initiatives to ensure that we are being able to ensure considerate long-term
success with the venture.
The Market
The market research analysis has shown that the consumers have become cautious
about spending, lease costs have increase and increase in competition have negatively affect the
revenue generation of major competitor (Burns 2016). However, despite this fact there has been
significant growth of the industry and online retail market is booming. Iconic, Cotton On,
Showpo, Bonds, Rebel, Glassons, Country Roads, Myers, Glue Store, Peter Alexander, Portmans
and Seed Clothing are the major brands in the market and caused major issues for old players in
the market. However, the fashion industry analysis also showed that majority of the companies
do not provide fashion advices to the consumers and they majority of the consumers in the online
retail segment belongs to the consumers between the age group of 18-35 years. The target market
which we have selected for our firm can be stated to comprise of the consumers having income

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of more than $2,500 has been chosen as they have enough disposable income to make affordable
purchases. Moreover, Premier Avenue as an enterprise, will only cater to the Sydney market and
their business will be limited to New South Wales in the initial stages. We shall focus on using
digital marketing as the platform for advertising their applications.
The Future
The future of our firm may be product development along with market development. In
consideration with this, it is essential to verify that, when the firm and we as entrepreneurs will
be successful in the Australian domain then in the long run, the firm aims to expand to the
European markets and additionally, be able to attain global success.
The Finances
The Premier Avenue, which is our enterprise will be requiring $1000000 for this venture.
This amount will be contributing towards the app development, marketing activities and other
such logistics expenses. The firm aims to grow at the rate of 5%, 10% and 15% in the first three
consecutive years of operations. We will be beginning these operations together and in
consideration of this, we want to ensure that the firm will perform its level best.

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The Business
Business details
Products/services: [What products/services are you selling? What is the anticipated demand for
your products/services?]
Registration details
Business name: Premier Avenue
Trading name(s): [Registered trading name(s).]
Date registered: [Date business name registered.]
Location(s) registered: Sydney, Australia
Business structure: Sole trader
ABN: [Registered Australian Business Number.]
ACN: [Registered Australian Company Number, if applicable.]
GST: [Are you registered for Goods and Services Tax? Date registered?]
Domain names: [Registered domain names.]
Licences & permits: [List all the licences or permits you have registered]

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Business premises
Business location:
Our business location is essentially focused in Sydney, Australia. The main aim of the
enterprise as a whole and our operations is to provide advice to the different customers through
an online application. The company will be importing its clothes from China in Asia and provide
the different customers with the assessment of fashion advice which would assist them to match
their clothes accordingly with their current clothes and new items which can be purchased from
the mobile application itself.
Organisation chart
The organizational structure can be essentially described as the way the task allocation,
the coordination and the supervision can be directed towards the overall attainment of
entrepreneurial objectives and the different objectives to be set out for the new venture. The
organizational structure is required to be designed in a manner such that the standard operating
processes as well as the routine tests can be set to question (Burns and Dewhurst 2016). The
organizational structure also determines the decision-making procedure which is generally used
in an organization. The structure is also referred to as the viewing glass or the perspective using
which the individuals generally tend to view their overall environment (McKeever 2016). An
organization can be essentially structured in various ways depending on the objectives which
have been set out for the study. In consideration of this, it is integral to understand that such an
organizational structure must be adopted which helps the different individuals in understanding
their responsibilities for the various functions, in an adequate manner. The structure needs to be
flexible, innovative and caring. For Premier Avenue, we have undertaken considerate steps in

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order to ensure that an entrepreneurial structure which can be taken to be hierarchical in nature
and allows the different members to communicate with effectively and understand the
performance initiatives (McKenzie 2015).
Figure 1: Example Organisation Chart.
From the given image, it can be effectively understood that Premier Avenue as a firm and
our entrepreneurial follows a structured organizational format and the task of the enterprise is
divided into various departments with each of the departments reporting to a senior manager who
will be in turn responsible for carrying out the reporting to the main organizational head.
Management & ownership
Names of owners: [List all the business owners.]
Details of management & ownership:

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The business will be run by the owners themselves. The name of the owners is ashdeep
Singh, Malika Shrestha, Samjhana Shrestha, Mahesh Sapkota, Manpreet Kaur, Cornelius
Kipngetich and Akash Banija and Cheng Mak. The owners will take the role of the Chief
Executive Officers and other associates who will be carrying out the supervision of the
operations on their own. The Chief executive officer will be reported to by the Vice president
and chief managers of the different departments as present in the firm which comprise of
departments like the Marketing and Sales, Information technology, Operations and the Financial
department. The sole proprietorship form of ownership indicates a total ownership percentage of
100%. As there are no partners present, it is integral to mention that, the sole responsibility of
running the business lies on the CEO.
Experience
The business owners are new to the field and we as group of friends have decided to
undertake this opportunity to see to it that, we would be able to run the various business
operations effectively (Parker 2018). As we have studied business and entrepreneurship
opportunities, we will utilise one skills and acumen in order to see to it that we are being able to
gain success and be able to establish the business in the right manner.
Key personnel
The key personnel section of the study will list down the different key employees who
are already associated with the company, sets a requirement table for the future and additionally,
lists down the Human resource strategy to recruit and retain the skilled employees (Schaper
2016). We have planned the human resource base essentially and have undertaken plans to see to

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it that, we are being able to get the best employees to work with us and assist in ensuring
success.
Current staff
Job Title Name Expected staff
turnover
Skills or strengths
Marketing
manager
Mr Chris
Brantley
12-18 months
 5 years of experience in the
Industry
 2 years of work experience in
the company.
 Postgraduate in Marketing
management.
Operations
manager
Mr. Ricky
Ponting
24 months
 Degree in Operations
management
 4 years of experience in the
given field.
Finance manager Ms.
Sandhya
Sharma
36 months
 Adequate experience in the
field for the past 3 years
 Financial management degree
from Harvard University.