TRENDY: Business Plan for a Retail Clothing Store in London

This document presents a detailed business plan for TRENDY, a proposed clothing store located in London. The plan includes an executive summary, background information, and a description of the products and services offered. It outlines the mission and vision statements, business structure, and a situational analysis, including SWOT analysis and recent market trends. The plan also covers the target market, competitor analysis, sales and marketing strategies, including sales forecasts for the first three years, and publicity and advertising strategies. Additionally, it details the payment policy and financial management, providing cash flow projections. The plan is supported by references to relevant books and journals, providing a comprehensive overview of the business strategy and its operational aspects.

Introduction to Business

Contents
BUSINESS PLAN...........................................................................................................................3
Executive Summary.....................................................................................................................3
Background..................................................................................................................................3
Product and Services....................................................................................................................3
Mission and vison statement........................................................................................................4
Business structure........................................................................................................................4
Situational Analysis.....................................................................................................................4
Recent Trends..............................................................................................................................5
Target market...............................................................................................................................6
Competitor’s Analysis.................................................................................................................6
Sales and marketing strategy.......................................................................................................7
Sales in the first three year will be...............................................................................................7
Publicity and advertising strategy................................................................................................7
Payment policy............................................................................................................................7
Financial Management.................................................................................................................7
REFERENCES................................................................................................................................9

BUSINESS PLAN
Executive Summary
Retail industry has the fierce competition in the global market but consumer have
tending needs to look into the varsity of clothes looking at the recent trends in the market. This
is the reason the clothes manufacturing business have sprung up in last 50 years. In the recent
trend of globalization and internationalization of business, there are various clothing design have
been involved from different corner of world. the new business will be TRENDY looking to one
who go between the manufactures and consumers as part of being clothing store or boutiques call
by some folks.
Background
TRENDY is the clothing store located in the 4 Turnham Green Terrace, Chiswick,
London W4 1QP having the size of 1700 sq. Ft being the popular and central retail location.
There have been proper conduction of the feasibility studies and marketing survey regarding the
location is the right place to launch the boutiques for the trendy apparel. We have believed that’s
the location will be supporting in growth of business as well as gaining up the competitive edge.
the property has better amenities such as use of class E, A3 use will be considered, 3 phase
electricity along with been part of ample storage and independent traders.
Trendy boutiques will ensure customer with first class treatments maintaining the CRM
software for managing up one to one relationship. There will be availability of different brands
along with customized product meeting out customer needs in every perspective.
Product and Services
TRENDY will be standards and registered clothing store that will be retailing up wide
range clothes and fashionable accessories from the local and international manufactures from
the different corner of world proving the customer the match of recent trends and customization.
These are some of the products that we will retail in our clothing store (boutique);
 Women’s clothing
 Men’s clothing
 Children’s clothing
 New-born clothing
 Maternity Clothing
 Footwear (Shoes, Canvas, Sandals and Slippers et al)
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 Other fashion accessories (belt, handbags, sun shades, caps, hats and wristwatches
et al)
Mission and vison statement
TRENDY vision is to be establish as one stop clothing store in the South Ealing area and
later on in whole London steering up the franchise in different location and providing up
maximum satisfaction to the customers.
Mission is to establish clothing store which is available with wide range of clothes and
fashion accessories from top brands at affordable prices. The retail business is planning up to
have outlets or franchise in different location.
Business structure
The business has the clear aim over developing standard one shop for customer where
thy an get into different purchase depending on their needs and wants. the business will be
targeting all the customer range form new born to old, poor to rich, classy to fashionable and
males to female. due to high segmentation expansion, it is vet important for businesses follow up
the right structure supporting up growth. company is hoping up to have the wide range of clothes
and fashion accessories from top brands at affordable prices. so the human resource structure for
the busines will be
 Chief Executive Officer (Owner)
 Store Manager
 Merchandize Manager
 Sales and Marketing Manager
 Information Technologist
 Accountants/Cashiers
 Cleaners
Situational Analysis
SWOT analyses
The business person will be quite aware regarding the several other clothing store or even
at the same location. There have been clearly conducting of SWOT analysis in manner to
identify the position establishment of business. This will be helpful in maximizing the strength,
major leverage on opportunities along with proper risk mitigation and equipped to comfort
business threats.
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Strength
 Business will be operating in both physical and online model with varsities of payment
options.
 Wide range of classy and fashionable accessories from local and international
manufacturing brand.
 The store will be open up for 24 hours a day and 7 days a week.
 Excellent customer services culture.
Weakness
 We do not have the large amount of finance creating the adverse effect of the
promotional activities.
 Threat
 There has been high level of competition in the business.
Opportunities
 Due to the viability of wide range looking out to have unlimited opportunities selling out
the item to large number of people in the location.
 Economic down turn will also have the effect on the purchasing and spending power
Recent Trends
Clothing store have experience up with tremendous growth in the all cities of United
Kingdom. In the response, due to globalization and internationalization of business, there have
been ever growing demand of clothes as well as fashionable accessories. Due to the increase
trends, various clothing owner have opened up store at different location meeting out needs for
customer desire.
The use of artificial technology in the retail store have been trending as well as predicting
upon the customer demand to gain up strategic positioning and maximining up supply chains
facilities.
Price penetrating ins important aspect now day in retail clothing store aside having
varieties and quality of the items in a convenience store, one of the easiest ways for players in
this line of business to sell the items on their racks as fast to make up with continuous restocking.
So, the TRENDY store will try up to keep the price of item such as in this format as $3.99, $99
and $199 et al as against $4.00, $100 and $200.
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Target market
As it comes to the clothing store, there will indeed have wide range for advisability of customer
as the target group won’t be restricted to just a group. But there will be more emphasis on
looking to want and desire of customer residing in the nearby location. The firm will be only
available for retail store quality with affordable clothes another fashionable accessories. while
conducting up market research and ideas in target market form the retail business are –
 Households
 Male and Female
 Toddles and New born Babies
 Bachelors and Spinsters
 Corporate Executives
 Business People
 About to wed couples
 Expectant Mothers (Maternity Gowns)
 Sports Men and Women
 Students
 Celebrities
Competitor’s Analysis
TRENDY boutiques will be launching up as standard and registered clothing store
turning out to be preferred choice in the South Ealing area and later on in whole London steering
up the franchise in different location and providing up maximum satisfaction to the customers.
the store location has the convenience to variety of customer belonging to different locations.
The clothing store have corner property on the busy road which is few meters ways form
the busy lines. There will be availability enough parking areas which is proving up the
competitive advantage against the competitors. There is wide range of quality and affordable
clothes and fashion accessories from top fashion labels available in our store at all times.
On the other hand, store will be having up with experienced and qualified management
tools offering high level of customer service culture, online stores various payment options and
highly secured facility with enough packing space will also serve as a competitive advantage for
us.
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At the end employee will be given up with proper welfare packages within the star up
category in United Kingdom. This will be help business to build and helping out to deliver
business goals by achieving business and objectives.
Sales and marketing strategy
Sales forecast is actually based on data gather through feasibility studies, market survey and
several another assumption related to market. Although the business is not so large as against
the biggest clothing store available in area of London. As per the captivity, there will be
ensuring wide range of clothes and fashion accessories et al from different brands both local and
foreign manufacturers.
Sales in the first three year will be
First Year-: $75,000
Second Year-: $250,000
Third Year-: $700,000
Publicity and advertising strategy
 The firm have the long-term business plan for the operation supply chains management
which will deliberately kept help out in building the business developments.
 There will be placing up of advertisements on the traditional (community-based
newspapers and magazines) and modern platform.
 Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, et
al to promote the brand.
 Distribution of filers and handbill in the target area where clothing store is located
 staff member wearing out the store T-shirts.
 Advertising the clothing store on official websites and employ strategies helping out to
pull traffic to the site.
Payment policy
The firm will look into the price penetrating strategy over the large fashion and clothes
accessories helping out the business establish. There will be use of the payment option as
using of bank transfer, online bank transfer, cheque, bank draft , mobile money and cash.
Financial Management
Particulars January February March April May June
Cash inflows
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Opening cash inflow 5500 6800 9182 11645.88 14191.447 16818.432
Sales revenue 10000 10200 10404 10612 10824 11041
Other income 2000 2000 2000 2000 2000 2000
Total cash inflows 17500 19000 21586 24257.96 27015.769 29859.24
Cash outflows
Material 2500 1530 1560.6 1591.812 1623.6482 1656.1212
Labour 2000 2000 2000 2000 2000 2000
Other expenses 2200 2288 2380 2475 2574 2677
Administration expenses 4000 4000 4000 4000 4000 4000
Total cash outflows 10700 9818 9940.12 10066.513 10197.337 10332.758
Cash deficit / surplus
or closing cash balance 6800 9182 11646 14191 16818 19526
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REFERENCES
Books and Journals
Online
Kurnianto, A.M and et.al., 2019. Marketing Strategy on the Project Planning of Retail Business
for Garage Shop. International Journal of Multicultural and Multireligious Understanding, 6(1),
pp.217-228.
Deering, B., 2016. Applying Academic Research on the Importance of a Small Retail Business's
Location to Construct a Business Plan for the Entrepreneurial Venture Deerhaus Decor LLC.
Prakaypun, K., Phrapratanporn, B. and Thanbhiranrak, T., 2018, June. The Human Capital
Management for Retail Business. Graduate School Conference (Vol. 1, No. 2, pp. 19-26).
Sharif, M.H.U. and Datta, R., Risk Management for a Retail Business.
Griva, A., Bardaki, C., Pramatari, K. and Papakiriakopoulos, D., 2018. Retail business analytics:
Customer visit segmentation using market basket data. Expert Systems with Applications, 100,
pp.1-16.
Barnes, Q.H., 2018. Retail business valuation: a potential management buy-out case study
(Doctoral dissertation, North-West University (South Africa), Potchefstroom Campus).
Phillips, I.J., 2020. Maintaining Small Retail Business Profitability by Reducing Cyberattacks.
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