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Trendz Getter UK-business plan

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Table of ContentsIntroduction................................................................................................................ 3

Scenario 1.................................................................................................................. 3

Task 1........................................................................................................................... 3

Task 2.........................................................................................................................3

Involvement and role of stake olders!................................................................3

Scenario 2.................................................................................................................. "

Task 3...................................................................................................................... "

#conomic s$stem in te allocation of resources!.................................................."

%onetar$ policies of te or&anization!................................................................."

'ompetitors and pricin&!......................................................................................(

)emand and suppl$!............................................................................................ *

'ultural inspirations!............................................................................................+

Scenario 3.................................................................................................................. +

Task ,...................................................................................................................... +

International trade and &lobal factors!.................................................................+

#uropean Union on UK business!..........................................................................

'onclusion..................................................................................................................

eferences................................................................................................................1/

2

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Introduction

In this particular project paper the business plan of a clothing shop in UK is being undertaken.

The name of the clothing shop is chosen to be “Trendz getter”. The clothing shop is associated

with the retail and selling of clothing items of all age groups and irrespectie of season! religion

and gender. "part from proiding clothing items the store is also proides serices and products

like shoes! gloes! mufflers! winter caps and man# such items. $pecial attention is being gien to

the line of fashion trends and also in children%s wears. The following business plan anal#sis is

being conducted keeping in mind the business format and industr# of the aforesaid business plan

of clothing store &'ernie! ())*+.

Scenario 1

Task 1Please refer ppt

Task 2Involvement and role of stake holders:

$takeholders are the driing force of an# business organization and without them the

functionalit# of the specified business cannot be completel# successful. In this particular case

scenario the success of the business plan of a clothing store is also dependent on the inolement

and e,ual and important participation of the stakeholders &Taplin! ())-+. The organization of the

authorities in organizing the stakeholders in the right perspectie and using them in their

specified sectors should be the major aspect of concern for the clothing store business.

3

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Supplier

0orkers

'ustomers

.a1 material suppliers

a+ $uppliers The suppliers are responsible for the delier# of raw materials and other such

useful accessories without which the manufacturing as well as the final delier# of the

cloths cannot be possible. The business plan focuses on deliering the suppliers with their

necessar# re,uirements of training in the specified field of fashion and clothing. The

suppliers must be paid with a sufficient sum of mone# in order to keep their long relation

with the business organization. b+ /orkers The manufacturing unit contains numerous workers those who are actuall#

responsible for the manufacturing and entire st#ling process. The manufacturing process

includes the staining! stitching! cleaning of the garments. The st#ling team contains the

designer! colour semantics proider and te0ture artists &ale! ())2+. The cumulatie

effort of these members makes the whole manufacturing and st#ling of the trending

clothes in the market. $o a good pa# scale might be beneficial for the workers that the

business plan will include.c+ 3ustomers " er# good and cordial relation with the customers will increase the market

preference of the clothing store in the UK market. There must be inclusion of offers in the

clothing store on occasions of festiities so that the customers can get attracted to the

latest trends of the market. The customers must be handled b# specific sales e0ecuties so

that the# can understand the specific needs of the customers and respond to their

re,uirements accordingl#.

,

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d+ 4aw material proiders In the clothing manufacturing and designing industr# the ,ualit#

of the cotton used in the garments are needed to be of supreme ,ualit# in order to make

the clothing line trending and at the same time of high ,ualit# &4ath! ())(+. The ,ualit#

of the products attracts more and more customers to the business. The clothing business

organization team must ensure the gathering of materials like cotton! stitching tools!

buttons and other accessories from reliable sources.

Scenario 2

Task 3

Economic system in the allocation of resources:

The business plan is associated with a clothing store located in UK which has been organized

keeping in mind the major concern of attraction to be the #outh of the societ# as the garments

supplied b# the clothing store are mostl# designer made and trending in the market. The

entrepreneur is now planning to e0pand the business and include some more inestors in the

business.

The first thing about including inestors and building up a partnership with other entrepreneurs is

that the# should be included from the same industr# in order to sustain the business forward. The

entrepreneur must educate the inestor from another working background about the economic

market of the present region of UK &5ones! ())6+. The market of UK is er# progressie when it

comes to garments and fashion clothing lines. $ome of the er# eminent garment designing

brands is present in the countr#. $o establishing a business in the region is er# much profitable

from the economic stabilit# of the business. The entrepreneur must educate in the proper market

of the present scenario and the trending st#les of the fashion industr# that might be implementedin the clothing line of the store to make it more persuasie for the isitors.

Monetary policies of the organiation:

"

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The basic necessit# and inolement of an inestor in the organization%s business structure needs

to be precise in all respects. The monetar# and fiscal policies of the business organization

determine the participation of the inestors in the business organization and their desired

outcomes. The authorities must set and e0plain the monetar# policies to the inestors before

signing them into their business. The monetar# policies are aligned with the economic structure

of the region in which the business is being conducted.

7Trendz getter% is situated in the heart of the cit# of 8ondon and thus the amount of customer

base for the organization is immense and is deeloping da# b# da#. To accommodate this strong

customer base the entrepreneur should look out for establishing new stores in new locations so

that more customers are inoled in the business &8ewin! ()1)+. The major inestment of the

business is in the sector of purchasing raw materials and in the cost of suppl#! store maintenance

and logistics. The partners of the business must be aware that with their participation in the

business the business structure will increase and their inestments will also need to be more than

the# usuall# needed to be so that the proper and highl# efficient facilities must be proided to the

retail shop and the customers. /ith the increase in the business of the retail stores the share of

profit will also increase.

Competitors and pricing:

9uropean market is filled with enormous garment and fashion clothing mega retail stores with a

large part of the market share in their pockets. The oerall share of competition in the market of

the entrepreneur compan# is listed under the famous names like "sda! :e0t! "rcadia! ;rimark!

TK <a00! 4ier island clothing and man# other such clothing t#coons. Thus the entrepreneur

must pierce into this widel# distributed market and look for its own place with high ,ualit#

products and a er# cost effectie price &4austiala! ()1(+.

The increasing number of supplier ariations and market specifications in the garment industr#

makes it much more difficult for the new business organizations to establish. The entrepreneur

must consult with the associated partners to inole in actie marketing and promotional

actiities that might be useful for the business deelopment of the organization. ;roper care must

also be put forward in the latest trending st#les and fashion statements that are being introduced

(

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in the market. "n artist with the best creatie artwork and ideas must be appointed as the lead of

the designing team of the garment store so that the customers can get the taste of the latest

fashion statements in the market.

The cost of the raw materials is the major inestment in the industr# of garments along with the

manufacturing cost &'afchamps! ())(+. $ince the cost of manufacturing is standard for all

garment units and for all st#les of clothes the major cost cutting mechanism should be

ascertained in the gathering of high ,ualit# raw materials at the best possible prices. /ith the

proper scrutinizing of the market there are seeral such distributors who can proide such offers.

The partnership of the entrepreneurship organization must be in association with mutual

distribution of responsibilities and trust. The final selling price of the clothing garments are being

set up b# the consent of both the partners according to their related market distribution and

trending st#le statement in that region.

!emand and supply:

In an# business organization the smooth flow of funds and products are related to the demand of

the market of that particular product and the suppl# of the business organization. The demand of

the garment industr# in UK is flourishing and the growth is predominantl# indestructible so the

demand graph is alwa#s high. "ligning with the high market demand the entrepreneur and the partners must increase the productiit# with the inclusion of more and more manufacturing

workers and designers.

The clothing mega store is also inoled in the sales of shoes! caps! winter socks! children%s

wears and much more such garments. The seasonal clothing range in alwa#s in the market with

high demands and the partners should anal#se the proper re,uirement of the market in this

regard.

*

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Cultural inspirations:

UK is a er# progressie market where the people are not afraid to tr# new looks and new outfits

so the range of clothing garments does not restrict to an# specific cultural background. ;eople

from an# part of the countr# ma# be inclined to an# st#ling garments irrespectie of its cultural

inclination. Though there are certain specific st#le statements that are predominant in the

9uropean countries that are associated with corporate looks and part# wears and speciall#

designed children%s wear &=lack! ()1>+.

?ccasions like 3hristmas and :ew @ear appears to be the most faourable for e0perimenting

with cloth wears and speciall# st#led garments in the market. There are man# such eents like

these that make the clothing industr# culturall# inclined to a specific st#ling and designing phase.

Scenario "

Task ,

International trade and global factors:

UK is a er# ast market where the scope of international market distribution is er# ast and the

market penetration of UK based garments in the international trade industr# is also growing. The

UK market alue of clothing industr# is around A B) billion off which around one seenth is

imported goods and clothing items. The UK te0tile sector accounts for nearl# 12C for manmade

+

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fibres! ()C for cotton and silk made cloths! 1>C household te0tile items and 1)C for other

accessories items &$toler! ())*+.

The global market share of the UK clothing industr# is mainl# based on some of the world%s

largest clothing brands like ;rimark! :e0t etc. These brands hae penetrated the market with

their cost effectie price ranges and the ,ualit# of the materials the# proide in the competitie

market. The UK market is comprised of almost (2C of retail stores in the countr# with *C of

them in departmental stores! 1)C in home shopping portals! and BC for discounter and gift

shops along with sports shops. (.BC in supermarkets and (.(C in market stalls. <ost of the

departmental stores are also engaged in distributed marketing with top super markets and online

business groups that makes them more precise in the clothing industr#.

European #nion on #$ business:

"ccording to the recent market anal#sis the present market share of the UK garment and clothing

industr# accommodates around B.(D C of the global market and is the - th largest in the world

map. The market share for the specific sectors of the garment industr# in UK compromises of

2>C in women wear! (6C in menswear! ()C in kids wear and 1.6C in other such accessories.

The UK market of garments and te0tiles proide the bu#ers with packaging and deliering of

shipments and also in the manufacturing part. This helps them in reliabilit# of their product

maintenance and sales as well &"rntzen! ()12+.

Conclusion

UK is a ast market in clothing and garment manufacturing and sales. The countr# has been

established itself with the greatest and the most trending fashion outfits and clothing ranges. The

8ondon fashion week installs the prospect of fashion buffs in the countr# and makes it a huge

hub of customer inclusion around the world. " clothing store in the heart of the cit# of 8ondon

with the name of 7Trendz getter% will increase the market demand of the compan#. The

entrepreneur and its partners should anal#se the particular needs of the market re,uirements and

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should also be in lined with the best designing artworks aailable &<ajumdar! ()1>+. The project

paper includes a brief understanding of the business needs and the gathering of opportunities.

%eferences

"rntzen! <.! ;ierce! K. and ;ierce! K. &()12+. Dress code. 8ondon! UK 4eaktion =ooks.

=lack! $. &()1>+. The sustainable fashion handbook . :ew @ork Thames E udson.

'afchamps! <.! 9l amine! $. and Feufack! ". &())(+. Learning to export . /ashington! G.3.

/orld =ank! Geelopment 4esearch Hroup! <acroeconomics and Hrowth.

'ernie! 5. and $parks! 8. &())*+. Logistics & retail management . 8ondon Kogan ;age 8td.

ale! ". and /ills! 5. &())2+. Threads of labour . <alden! <" =lackwell ;ub.

5ones! 4. &())6+. The apparel industry. ?0ford =lackwell ;ub.

8ewin! G.! Kaufman! =. and Hollan! ;. &()1)+. Advances in industrial and labor relations.

=ingle#! UK 9merald.

<ajumdar! ". &()1>+. Process control in textile manufacturing . ?0ford! UK /oodhead ;ub.

4ath! 5. &())(+. Unravelling the rag trade. ?0ford! UK =erg.

4austiala! K. and $prigman! 3. &()1(+. The knockoff economy. ?0ford UKJ ?0ford Uniersit#

;ress! U$".

$toler! ".! 4edden! 5. and 5ackson! 8. &())*+. Trade and poverty reduction in the Asia-Pacific

region. 3ambridge! UK 3ambridge Uniersit# ;ress.

Taplin! I. and /interton! 5. &())-+. anaging organisational commitment . Talence =ordeau0

cole de management.

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