Retail For All: Launching a New Venture Business Plan Report

This report presents a comprehensive business plan for Retail For All, a new retail venture in the UK. It begins with an introduction to business ventures and then delves into the specifics of Retail For All, including its target consumer markets (middle and upper economic classes, ages 15-50, families, and online shoppers). The report conducts a competitive analysis using Porter's Five Forces, comparing Retail For All to industry giants. An internal analysis highlights strengths like diverse products and affordable costs, and weaknesses such as inexperience and limited resources. The report also outlines tangible and intangible resources, skills development strategies (training, motivation), and a marketing strategy using both traditional and digital channels. It includes a cash budget and addresses legal requirements. The report concludes with a summary of key findings and recommendations for Retail For All's successful launch and operation.

Launching a New Venture

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Target Consumer Markets for Retail For All..............................................................................3
Competitive Analysis of Retail For All.......................................................................................4
Internal Analysis of Retail For All..............................................................................................5
Tangible and Intangible Resources..............................................................................................6
Skills and Capabilities.................................................................................................................7
Marketing Strategy......................................................................................................................8
Cash Budget.................................................................................................................................9
Legal Requirements...................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
A business venture is a start-up business organisation that is created with the intention to
generate profits by entrepreneurs and businessmen. Business ventures are created in order to
effectively service existing unmet demands in the markets or to address a lack of supply in the
consumer markets. Though the creation of business venture operating within an industry carries
various significant risks for the entrepreneur, their successful operations within the industry also
provide entrepreneurs with significant opportunities for immense profitability, adding to their
appeal (Birley and Stockley, 2017). This report focuses on creating a successful business plan
and action plan for a newly launched business venture called Retail For All which is a retail
business venture that operates within the retail markets of UK and also provides e-commerce
services to its customers through its online digital stores in order to generate maximum profits
for Retail For All.
MAIN BODY
Target Consumer Markets for Retail For All
For any business venture to operate successfully in the consumer markets, they need to
identify and focus on their target customers which can help the business venture operate with
increased productivity and profitability in the operational industries. As Retail For All is a retail
business venture operating within the retail markets of UK, they too need to identify and focus
their operations of their target customers for successful operations within the retail industries.
The retail markets of UK include diverse customers from all economic classes of the population,
who belong to different cultures, backgrounds, religions, genders, demographics and
geographical locations for Retail For All to choose their targeted customers from. Retail For
All’s target customers include all individuals from the middle and upper economic classes of the
UK population, as these customers possess disposable personal income which can be used for the
goods and products provided by Retail For All (Nsereko and et.al., 2018). Further within this
customer sector, the target customers of Retail For All include individuals of all genders within
the age range of 15-50, allowing Retail For All to cater to and service a wide range of customers

for optimum productivity and profitability within the retail markets of UK. Further, with Retail
For All selling a wide variety of home appliances and peripheries their target customers also
include families which can come together and shop at Retail For All for all their basic needs and
requirements, further increasing the productivity and profitability of the business venture. As
Retail For All also operates digital online stores, their target customer for their online stores are
also similar, but must be additionally focused towards the needs and requirements of the youth
demographics in their target customers, as it has been statistically proven that young individuals
within the UK population are more inclined to conduct their shopping operations online digitally,
than older people within the population (Costa and Redford, 2017). The online stores of Retail
For All also allow for them to provide service to target customers who are not near their physical
stores in the UK, allowing for increased range of target customers to be serviced effectively
irrespective of their geographic restrictions to physical stores of Retail For All, resulting in
further increased operational productivity and profitability in the retail markets.
Competitive Analysis of Retail For All
Operating in the retail industries of UK would make Retail For All a competitor to the
retail giants in the industries such as Tesco, Asda and Aldi. The competitive environment of the
retail industries in which Retail For All can be evaluated by applying the Porter’s 5 Force Model
to its operations.
Bargaining Power of Customers (HIGH): As the number of business organisation operating
within the retail markets of UK is high, this provides retail customers with a lot of choice with
regards to which business to interact with for their needs. This gives them high bargaining power
in the retail markets, as if their needs, requirements and preferences aren’t met, they can easily
switch to other businesses in the retail markets of UK. To combat the high bargaining power of
customers, Retail For All should focus on providing effective customer service to their
consumers so that their satisfaction and loyalty metrics can increase.
Bargaining Power of Suppliers (LOW): As there are numerous suppliers available to Retail For
All, all of whom offer similar services and products to Retail For All, the suppliers within the
retail industry of UK have decreased bargaining power over retail businesses.

Threat from New Entrants (HIGH): As Retail For All is also a new entrant in the retail markets
of UK, it also faces intense threat from the businesses that newly enter into the retail markets of
UK, as these businesses bring with them new innovation and drive to improve the existing
structure of the retail markets of UK (Lewis, 2017). Retail For All can decrease this threat from
new entrants by investing into their manufacturing equipment, logistical and supply chain
operations.
Threat from Competition in the industry (HIGH): Retail For All faces intense competition
within the retail industry from various other business organisations all of whom operate with the
intention to increase their own market share, customer base, productivity and profitability in the
retail markets such as Aldi, Asda, Tesco etc. In order to decrease the high threat from
competition in the retail industry, Retail For All should focus on the quality of service they
provide to their customer, which would result in an increase in their customer satisfaction,
loyalty and existing customer base.
Threat from Substitutes (Moderate): Retail For All also faces moderate threat from substitute
products available in the retail markets of UK. This is because some of the products sold by
Retail For All are similar to those sold by their competitors. To address this, Retail For All can
invest into research and development of innovative products who cannot be substituted.
Porter’s Force Retail For All Tesco Aldi
Bargaining Power of Consumers HIGH HIGH HIGH
Threat from New Entrants HIGH LOW MODERATE
Bargaining Power of Suppliers LOW LOW LOW
Threat from Competition in the Industry HIGH HIGH HIGH
Threat from Substitutes MODERATE LOW MODERATE
Internal Analysis of Retail For All
The internal analysis of the Retail For All details us on the internal strengths and
weaknesses of the business venture. These are as follows:
Strengths:

 Diverse Products: Retail For All sells to its customers in the retail markets of UK a
variety of diverse goods and products with the intention to meet the numerous different
requirement and needs of their customers in the retail markets (Gürel and Tat, 2017).
These diverse products of Retail For All include clothing, home appliances, peripherals,
food items, books, toys, groceries and general merchandises.
 Affordable Costs: The prices charged by Retail For All are priced on a competitive
strategy with the intention to most products being significantly affordable by most target
customers of Retail For All so that their productivity and market share can increase.
 Supply Chain: Retail For All has established reliable and productive relations with their
suppliers so that consistent procurement of input raw materials from their suppliers can
occur at proportional costs.
 New Manufacturing Equipment: As Retail For All is a new business venture, all of its
operational manufacturing equipment are advanced machines that are capable of
performing at optimum performance and efficiency when compared to the older
manufacturing equipment of its competitors in the retail industries.
Weaknesses:
 Inexperience: Retail For All is inexperienced with regards to operating within the retail
markets of UK and its inexperience with regards to the intense competition within the
retail industries and changing customer trends is a significant weakness.
 Logistics: Retail For All does not have a well structured logistical network for their
distribution operations, hindering their productivity and profitability.
 Brand Value: As Retail For All is a new entrant in the retail markets of UK, its brand
value, awareness and reputation amongst the retail customers is non existent, which is
also a significant weakness of Retail For All.
 Limited Resources: Retail For All being a new business venture has limited financial,
human and operational resources which can be used for investing into their current
operations to enhance and improve them.

Tangible and Intangible Resources
For a business venture to operate successfully, they need significant resources for their
sustained optimum operations. The resources required to successfully launch, sustain and grow
the operations of Retail For All are categorised as follows:
Tangible Resources: These tangible resources of Retail For All include all physical resources
that the business venture has for its operations. As Retail For All is a new business venture its
tangible resources are limited (Kamasak, 2017). The tangible resources of Retail For All include
various operational resources such as financial resources, suppliers, manufactured products,
infrastructure, human resources, logistical assets, information technology systems etc., all of
which are important for the operations of Retail For All.
Intangible Resources: These consist of Retail For All’s operational resources which cannot be
physically experienced and verified. The intangible resources of Retail For All include its brand
awareness, value and reputation in the markets, customer loyalty and satisfaction levels, the
skills of its employees and workforce, and the effective capabilities of its leadership and
management.
Skills and Capabilities
For the sustained successful operations of Retail For All, it is immensely necessary for
the business venture to develop the skills and talent of its employees and workforce. This would
allow for Retail For All to operate with increased performance and efficiency and also allowing
to implement diverse business and operational strategies so that the productivity and profitability
of Retail For All can be improved. Retail For All can develop the skills of their employees by the
following methods:
Training: The management of Retail For All can organise professional training sessions for their
employees so that their operational skills and knowledge can be further improved. Retail For All
can make use of various training methods such as group discussions, seminars, mentoring,
supervising, management games etc., with the intention to develop the communication skills,
analytical skills, management skills, increase their operational performance, decision making and
efficiency of their employees for increased productivity of the business.

Motivation and Encouragement: Retail For All can also use motivation and encouragement of
their employees to make them learn and develop skills themselves such as communication,
analytical skills, theoretical models and frameworks, decision making and leadership skills
(Hisrich and Ramadani, 2017). Inspiring their employees with encouragement to learn and
develop themselves for their personal and professional development will effectively result in
increased skill level of the workforce of Retail For All leading to increased performance,
efficiency, productivity and profitability in the retail markets of UK.
Marketing Strategy
For the successful operations of Retail For All in the retail markets of UK, it needs an
adequate marketing strategy as part of its business plan, which focuses on the marketing
endeavours of Retail For All in the consumer markets. The aim of Retail For All’s marketing
strategy needs to be the advertisement and promotion of their goods and services to as large an
audience as possible so that their productivity, customer base, market share and profitability in
the retail markets of UK can effectively increase (Chaffey and Ellis-Chadwick, 2019). For this,
the marketing team of Retail For All can make use of both traditional and digital channels of
marketing with the intention to use marketing tools that these distinct channels provide in order
to market to a wide range of UK population. The marketing strategy of Retail For All must
include following marketing tools such as:
Social Media: This marketing tool provided by the digital marketing channel would allow the
marketers of Retail For All to make use of various social media platforms for their digital
marketing operations with the intention to advertise and promote the goods and services of Retail
For All to a very large base of customers, at little costs incurred compared to other marketing
tools. As social media platforms attract a vast audience of customers, Retail For All can use them
for their marketing operations to engage and interact with their customers and promote their
goods and services in an effective manner. Marketers of Retail For All can further make use of
digital monitoring tools such as Google Analytics and Hootsuite, which would allow for them to
monitor and record the performance of their digital marketing efforts, which on further analysis
would allow the marketers of Retail For All to improve their digital marketing schemes to
increase its productivity and success rate.

Paid Advertising: Retail For All can also make use of traditional marketing channels and pay
external sources to run their promotional advertisements through TVs, radios, newspapers,
magazines, billboards etc., in order to advertise and promote their goods and products to a very
large section of the UK population. For this the marketers of Retail For All need to create
engaging and entertaining marketing content that can engage and interact with customers so that
they can effectively promote and advertise their goods and services to a large section of the UK
population.
Sponsorships: In addition, the marketers of Retail For All can also sponsor various sports events,
TV and radio shows, news programs, YouTube Channels etc., all of which tend to attract huge
number of potential customers, which can be effectively marketed to (Morgan and et.al., 2019).
Sponsorship also has the added advantage of significantly increasing the brand awareness of
Retail For All amongst sections of the UK population, which is of immense importance to Retail
For All, as their current brand awareness and value in the retail markets of UK is non-existent.
Cash Budget
The cash budget allocated to the operations and functions of Retail For All includes all
operational expenses that might be incurred by the business venture both pre and post launch.
For the business venture to operate in the retail markets with optimum profitability, it needs an
effective cash budget that detail how much financial resources it has available for its diverse
operations prior and post launch (Adam and Bevan, 2016). The pre-launch cash budget of Retail
For All includes all expenses that the venture might incur such as:
Operational Expenses Amount(£)
Procurement of Raw Materials 2500£
Legal Expenses 500£
Employee Wages 2000£
Distribution and Logistics 1000£
Marketing and Promotions 1500£
TOTAL 7,500£

The post launch cash budget of Retail For All includes all the expenses which the
business venture might incur for the next 18 months from its launch. The post launch cash
budget of Retail For All is as follows:
Operational Expenses Amount(£)
Procurement of Raw Materials 1250£
Legal Expenses 250£
Employee Wages 1500£
Distribution and Logistics 500£
Marketing and Promotions 750£
TOTAL 4,250£
The leadership and management of Retail For All have to account for all the expenses of
their business venture prior and post its launching into the retail markets of UK, so that Retail
For All can operate successfully in a productive and profitable manner.
Legal Requirements
The administration and management of Retail For All also need to adhere to various
legally mandated rules and regulations placed by relevant local and national authorities so that
they can legally operate within the retail markets of UK. Failure of Retail For All to adhere to
and follow these legally mandated rules and regulations can result in fines, penalties,
cancellation of license and decrease in brand value and reputation amongst the consumers, all of
which negatively impact the business venture’s productivity and profitability in the retail markets
of UK. The most significant legal requirements that Retail For All has to adhere to are as
follows:
License: For operating in the retail markets of UK, the leadership and management of Retail For
All is legally mandated to register their business venture with the relevant governing authorities
and procure a legal license before they can start their operations within the retail markets of UK.
Health and Safety at Work Act 1974: The leadership and management of Retail For All are also
legally mandated to implement the tenets of Health and Safety Act 1974 and provide their
employees and labours with a safe and healthy working environment that does not jeopardise the

safety or health of their employees in any operational manner (Morrison, 2019). Based upon this
act, the leadership and management of Retail For All are also legally mandated to provide their
employees with all necessary safety equipment such as safety goggles, helmets, shoes and
relevant training so that they can safeguard the safety and health of all their operational
employees and labour at workplace.
Employment Rights Act 1996: The management and administration of Retail For All also needs
to implement this act into their operations and functions with the intention to ensure that no
workplace discrimination or abuse takes place against their employees which can interfere with
their basic fundamental rights. Based on this act, the administration also is mandated to create
employee contracts in a legal manner, to safeguard their rights.
Minimum Wages Act 1998: The administration and management of Retail For All also needs to
adhere to the Minimum Wages Act 1998 and ensure that all their labours are paid wages in
accordance with the act (Barnard, 2017). This act also encourages Retail For All to have a fair
and equal payment structure for their employees.
CONCLUSION
Based on the findings of the report, it can be effectively concluded that launching a
business venture such as Retail For All requires adequately researched business and action plans,
which can help the business venture perform successfully in the consumer markets. This report
identifies the target market of Retail For All and performs competitive analysis using Porter’s 5
Force Model. The report also evaluates the strengths and weaknesses of Retail For All along with
the tangible and intangible resources required by Retail For All. Further the report assesses the
development and training methods which Retail For All can use in addition to a marketing
strategy for the business plan of the venture. Then the report evaluates and calculates the cash
budget that is required for Retail For All pre and post launch. Finally, the report identifies the
legislative requirements which are to be adhered to by Retail For All for their successful legal
operations within the retail industries of UK.

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