BA (Hons) Business and Management
Enterprise: Creating your Business
Learn to identify opportunities, develop innovative ideas, and craft a watertight business plan. We'll equip you with the skills to launch and manage your own venture, or thrive in the fast-paced world of startups. This program is your springboard to becoming a successful business leader and shaping your own future.
Table of Contents
Section 1
- Finance
- Resources
- Marketing Strategy
- Knowledge of Rivals
- Knowledge of Clients
- Personal Features
Section 2
- Overview of Business
- How clothes using plastic bottle will be made
- Why clothes made by recycled plastic bottles shall be good
- Why people buy clothes made from recycled plastic bottles
- Targeting Clothing Sellers in the UK
- Lifespan of Product
- Effects of Brexit on the clothing industry and its Limitations
- Research on Population of London and Clothing Products
Section 3
- Business Model Canvas
- Key Business Activities
- Value Proposition
- Segmentation of Customers
- Partners
- Resources
- Revenue Stream
- Distribution Channel
- Relationship with Customers
- Structure of Cost
- References
Smart Eco-Clothing
BA (Hons) Business & Management: Enterprise - Your Blueprint for Business Success With Diploma Assignment Help
Question: You are asked to ‘pitch' your business launch strategy and describe what you will do in the first 12 months of operating the new business
Section 1
Smart Eco-Clothing Inc is a firm selling garments across the UK manufactured from recycled plastic bottles. We are the best clothing firm that will manufacture innovative clothes, we will manufacture jackets, pants, undergarments, and jackets from recycled plastic materials. Since the firm will manufacture the product from plastic material so due to it the business operating cost of the firm will be low (Rodriguez, 2020). Our business aims to serve the needs of customers and to keep the surroundings clean and green. The legal form of Smart Eco-Clothing Inc is because all the customers are liable to investment and a firm that has a perpetual life.
Finance
Finance is the essential resource needed by businesses across the globe. The outstanding business plan by Smart Eco-Clothing Inc will be eligible for more than sixty thousand pounds. Furthermore, it is essential to say that Smart Eco-Clothing Inc transportation shall be carried across the UK via car finance.
Resources
For Smart Eco-Clothing Inc skilled human resources will be needed to look after the business operations. Sufficient Financial Resources, a Skilled Workforce, andlatest Machinery will be the resources needed for the firm Smart Eco-Clothing Inc. Polyester Textile Recycled will be formed using clear water plastic bottles.
Marketing Strategy
The marketing strategy of Smart Eco-Clothing Inc shall be concentrated heavily on the sales promotion of the product in the retail shops, and mass market positioning in the market. The financial plan of the department shall increase by 10% of the annual sales of Smart-Eco Clothing Inc.
Knowledge of Rivals
Patagonia, D-grade, Mountain Equipment Coop (MEC), REI, the North Face, etc. are producing the same product we will be producing, in different foreign markets. Large clothing retailers in the UK, like Marks & Spencer have also started to use recycled polyester in some of their clothing ranges.
Knowledge of Clients
Smart-Eco Clothing products will have a high demand in the local and international market due to the increase in global warming and environmental pollution. Due to it, the customers will desire to choose Eco-friendly clothing.
Personal Features
Leadership skills, Motivational skills, risk taker, creative thinker.
The graphical estimated values demonstrate that how synthetic fibres and fabrics are utilised in the fashion industry, and the sources that is behind these fabrics depends on the polyester mainly.
FAQ:
- How much startup capital will you need?
- What are your funding options?
- What resources will you need?
- How will you reach your target market?
- What is your marketing message?
- Who are your competitors?
- Who is your ideal customer?
- What skills and experience do you bring to the table?
Section 2
Overview of Business
Smart Eco-Clothing Inc is a clothing business entity that manufactures clothes via recycling plastic bottles. The firm will sell innovative clothes in the UK market and manufacture the clothes by applying innovative business strategies. Smart Eco-Clothing Inc. manufactures Jackets, Blazers, T-Shirts, and Trousers. We manufacture clothes via recycled plastic so due to it the manufacturing cost of Smart-Eco-Clothing Inc. is less which will help the firm to maximise its profit margins. The firm desires to locate the business in the posh areas of Manchester. Our business aims to provide customers with innovative clothing products and to attain a higher return on investments (loiske, 2022). The target market of the firm will be middle-class and high-income earners. The business of Smart-Eco Clothing Inc. is classified as a manufacturing and retailing firm because the firm is manufacturing clothes from recycled plastic material. The core competency of the firm is manufacturing procedure because the products offered by Smart Eco-Clothing Inc are less defective.
How clothes using plastic bottle will be made
The following is the whole process through which Smart Eco-Clothing Inc made the clothes from the recycled plastic bottles. The cycle of the clothes made from the plastic bottles follows a sequential procedure which includes: 1) Plastic Bottles shall be collected for recycling 2) Caps will be removed and bottles will be sorted by bottles. 3) Bottles will be cleaned and sterilised to remove the nasties 4) The plastic will be dried and will be shredded in the small flakes. 5) Flakes will be melted and squeezed into yarn 6) Yarn will be spooned into threats 7) Threats will be woven into fabric rolls 8) The fabrics will cut and will be sewed to manufacture new clothes (Meng and Leary, 2021)
Why clothes made by recycled plastic bottles shall be good
By manufacturing the clothes of high quality from the recycled plastic bottles, it shall help the firm to decline the requirement to purchase the new clothes. Manufacturing of clothes from the discarded plastic bottles means that the firm will reuse the plastic that would end up in the landfills, or worse.
Why people buy clothes made from recycled plastic bottles
People prefer to buy the clothes that shall be made from recycled plastic bottles. It shall help the firm to reduce the requirement to buy the new clothes by the customers in future in the market. It is one of the major reasons due to which people across the world will prefer to buy clothes made from recycled plastic bottles. Since the clothes made from the recycled plastic bottles will help the countries to get control over the environmental pollution, it can be said that it will urge the people to buy the clothes made from the recycled plastic bottles in near future.
Targeting Clothing Sellers in the UK
The products to be sold by Smart Eco-Clothing Inc shall be purchased by the customers in online stores and through the retail stores. The clothing sellers aim to search for cost-effective Clothing brands. By adding all the costs engaged such as Manufacturing, Business Innovation Human Resources Management, and Finance costs, and being capable to sell the products. The profit of the firm in the UK shall be increased through sales of the products in the global market.
Lifespan of Product
Determining the lifespan of the plastic material used in the clothes is significant when conducting business planning ahead. It can be said that plastic clothing products have a long-duration life span. So the clothes offered to sale by the Smart-Eco Clothing Inc. shall be durable and shall have high demand in the market.
Effects of Brexit on the clothing industry and its Limitations
Brexit means the referendum occurred across the UK to leave the EU. The U.K and EU struck a free-trade contract to ensure the free trade of products without imposing tariffs or quotas. Though, the main explanations and information of the future association remain unpredictable for example trade in services, which forms more than eighty percent of the economy of the UK (Bongardt, 2020). This has saved a no-business deal Brexit, which would have been damaging the Economy of the UK which is not a favourable condition for the UK.
Brexit has carried various modifications in the financial regulations. A kind of such change among all the changes in the EU retailer selling goods in the UK shall need to pay the VAT from POS (Point of Sales) despite the importation. All these are required to place the account with Majesty Revenue and Customs. Furthermore, brands such as Amazon and eBay shall now be capable of gathering the Value Added Tax to be collected from the sellers and remit it to HMRC. It can be said that in 2016 a referendum was held in the UK (Müller-Ibold, 2018). Certain clothing products utilised by the customers to manufacture the clothing and all the clothing accessories such as sewing machines, yarn, and cotton fabrics sold in the UK have now come under the regime of duty-free businesses across the UK. Though there are some goods such as finished goods and footwear across the UK that shall have tariffs.
Following Brexit, the government of the UK has ended tax-free sales at the airports for the goods such as clothes for passengers travelling to non-EU countries. The decision taken to end tax-free sales of all such kinds of classes was obtained from the clients at airports. Furthermore, it can be said that in various situations all such kinds of tax-free goods are carried back to the UK by the residents, all these ultimately put high and high street sellers of the clothes at a disadvantage.
All the sectors across the UK have been suffering from a significant loss during the recent past few years and textiles has been no exception. As compared to the same period in 2020, between January and September it can be said that the EU recorded a dramatic decline in imports. The data showed that the most affected EU countries on exports of the country (Chowdhury et al., 2018). Concerning the effects of the textile sector across the UK in May 2021, the UK Fashion and Textile Associations (UKFT) surveyed one hundred and thirty-eight businesses which also include clothing and fashion businesses, wholesalers, manufacturers, and retailers in the Clothing Industry across the UK.
A survey back in early 2021 of the UK clothing and apparel recommends that fifty-nine percent were already observing the effects of Brexit on the business operations, however with seventy-seven percent of the firms forecast that true effects lockdown impose because of COVID-19. According to UK Fashion and Textile Associations (UKFT), it has been seen that ninety-eight percent of UK fashion and textile business surveyed in 2021 observed high cost of business via bureaucracy, 92% of people has experienced raises in the customer costs, fifty-three percent of the customers in the industry has cancelled orders from the EU clients and forty-four percent have observed a rise in the refund of the rejected goods because of the custom costs and issue of Value Added Tax (Flake, 2022)
Research on Population of London and Clothing Products
The short research on the chosen product has been conducted on the population of London and the composition of people who desire to wear or wear environmentally sustainable clothes. The population of London in 2022 is more than nine million and it ranked thirty-seventh of the population of people living in the urban agglomeration of the entire globe. The total area of London is more than one thousand and five hundred square kilometres.
The active use time of clothing across the UK is an average of more than three years. So, it has been observed that textile re-utilised material and recycling are deliberated as essential solutions for fast fashion clothing articles across the UK. According to the research study conducted in 2020 from the Imperial College London, the researchers found that plastic performs the best way to manufacture clothing products as compared to the manufacturing of clothing products from cotton, it needs about one-thousand and four hundred gallons of water, however, it has been found that the polyesters do not needs virtually water to manufacture the clothing products and even the virgin polyester production utilise water in small quantity as a coolant in the manufacturing process (Lang and Armstrong, 2018). The manufacturing process is the production technique that helps firms across the world to manufacture the products by assembling the supplies, and raw-material by using particular manufacturing techniques. It is utilised in industries across the globe that manufacture goods in bulk quantity such as Food Products, Beverages, Refined-Oil, Gasoline, Pharmaceuticals, Chemical products, and so on.
It can also be said that Recycled Plastic also assists to keep control over the emission of carbon across the globe and in London. It will help the government of the country to offer a clean and green environment to live for all humans and all living beings. At the customer level, polyester clothes are affordable and have pocket-friendly rates. Furthermore, it can also be said that polyester fabrics are more and more durable in contrast to the other fabrics manufactured from traditional materials such as Wool, Cotton, Satan, and Silk. It is also rational to say that plastic-made fabrics need less water in the manufacturing process to launder and keep the clothes clean (Laitala, and Klepp, 2018). As per the research conducted by EPA, it has been found that textile-to-textile recycling is in its infancy, with thirteen percent of the clothes and shoes recycled. However, it has been found that the Plastic Industry focuses on searching for various creative techniques to convert even more and more waste of plastic into clothing.
For the European Clients, it can be said that Brexit has led to some modifications in the Value Added Taxes, price, and ease of purchasing and having offered the UK fashion products. However, from the onset of the departure of the UK from the EU, clients of the UK products pay local Value added Tax, which could be beneficial for the firms. However, the goods that are sold by the suppliers across the UK market that are manufactured in other countries such as China might also observe some extra work added as all these firms across the continent (Sorensen and Johnson Jorgensen, 2019). A market is a place where all the customers and the business entities meet each other to acquire and sell intangible or tangible goods to meet their needs and wants and to exchange financial resources against the products and services as a consideration. It has been found that the clothing industry of London has been a greater influence on the universal fashion world in recent past few years. Therefore, at present, the industry players are exploring how fashion in the UK market has been modified since 1800.
The phenomenon of the disposable fashion rules: purchase it, wear it and chuck it is the mantra that has been followed by the industry across the UK. Clients in the market expect the firms in the industry to charge low prices and increase their income which is the key to raising financial activity. Clothing and fashion purchase decisions are focused mainly on what the users want rather than the needs of the customers. It relies on how the client desires to be perceived. The rivalry between the firms is so fierce and the market is characterised by the discounting which is provided to the customers by the firms in the industry.
FAQ: External Analysis (Opportunities & Threats)
- How will the clothes be made from recycled plastic bottles?
- What are the environmental benefits?
- Why would people buy these clothes?
- Why target clothing sellers in the UK?
- What is the expected lifespan of the product?
- How will Brexit impact your business?
- How does London's population fit your target market?
BA (Hons) Business and Management: Your Guide to Success with HND Assignment Sample
Section 3
Business Model Canvas
Business Model Canvas (BMC) is the strategic plan of action for the formation of new businesses. BMC offers transparency to the activities of the firm. It is the strategic management template that is utilised to form new business models and document the current. It provides visual charts that show the factors that explain the value proposition of the firm, infrastructure, customers, and financial resources (Hamwi et al., 2021). It helps firms across the world to align their business activities by showing the trade-off. The following is the business structure of the business model canvas that shows all the elements that are included in the business model canvas:
Key Business Activities
One of the key business activities of Smart Eco-Clothing Inc. will be conducted in Manchester. These shall be gathered from the UK. One of the key activities of Smart Eco-Clothing Inc is the formation of proper supply chain activities, financial operations, and human resources (Renfors, 2020). All these business activities will help Smart Eco-Clothing Inc to conduct its business activities successfully across the area and to get a sustainable competitive advantage in the local and global market over its rivals. Business Innovation is also one of the key business activities that help the firm to implement business innovation and to eat away the local and global market share.
Value Proposition
The value proposition is the statement that recognises the advantages of the products and services offered by the firms in the market that a firm delivers to its customers. It has been perceived that a well-defined value proposition shall differentiate the firm in the market and among the target market of the firm (Khandual and Pradhan, 2019). The firm will focus on retaining up with the fast-changing fashion trends. It can be said that the activities performed at Smart-Eco Clothing permits its spot trends and also focuses on launching sustainable and eco-friendly clothes in the market to its target audience.
Segmentation of Customers
Based on the needs and wants of the customers, it can be said that Smart Eco-Clothing Inc, will target the niche market of all men and women ages from twenty-five to sixty years. Manchester is a developed area in the UK so in this market segment, the firm will easily increase the market share and also increase the profit margin.
Partners
To decrease the risk and increase the business operations, Smart Eco-Clothing Inc needs a strategic partnership with various service providers if they will focus on developing and manufacturing the collections. Other key partners of Smart Eco-Clothing Inc will be the major holding firms, Zara needs strategic business partnerships, with various product service providers.
Resources
The key resources that are observed as the assets of Smart Eco-Clothing Inc form the value of the consumers of the firm. During the initial 1.5 years, the firm relied on 10 people, 5 stores, enough financial resources, 1 container, and 1 expert fashion designer. The firm will work on the business operations by using these resources (Buchel et al., 2022). All these resources will play a vital role in the success of Smart Eco-Clothing Inc to manage its business activities successfully.
Revenue Stream
Smart Eco-Clothing Inc shall make the income by selling the clothing products in the market. However, Smart Eco-Clothing Inc also increases the other revenue by investing the funds in the mutual fund in various asset management firms. The profit from the investment is also reported as the revenue inflow by the Smart-Eco- Clothing in its books of accounts.
Distribution Channel
The channels of Distribution comprise wholesalers, retailers, and the internet. Distributors will help firms across the world to deliver the right product, at the right time to the target customers in the target market of Smart Eco-Clothing Inc. Smart Eco-Clothing Inc aims to sell fast as well as cost-effective and efficient goods in the market. The Wholesalers, distributors, agents, and retailers will be included in the distribution channel of Smart Eco-Clothing Inc.
Relationship with Customers
To make sure that the best design of eco-friendly clothes is delivered to the customers by the firm, develop the best relations with the customers. It will help Smart Eco-Clothing Inc to retain potential customers and to maximise its market share (Khare et al., 2021). To strengthen the relations with the customers Smart Eco-Clothing Inc will provide a lot of after-sale services to the customers along with startling rebates to the retained customers. All these strategies will help Smart Eco-Clothing Inc to build strong relations with its customers.
Structure of Cost
Smart Eco-Clothing Inc will be the cost-driven firm that is concentrating on cost reduction and increasing profit margins. The firm aims to deliver the best value goods to the customers at affordable prices. It means that Smart Eco-Clothing aims to adopt the best cost strategy Smart Eco-Clothing Inc has to bear the fixed cost which includes salaries, wages, and rent however the variable cost will include the price of purchasing materials, and plastic.
FAQ:
- What are the key elements of a good business launch strategy pitch?
- What should I focus on in the first 12 months of operation?
- How can I make my pitch stand out?
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