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UNIT 36 P5 - Produce a proposal containing the essential information for the start -up of a business.
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Produce a proposal containing the essential information for the start -up of a business.
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Unit 36 - P5FOR NOTES AND GUIDLINE PURPOSES ONLY, COPYING THE
WHOLE DOCUMENT WILL BE COPYWRITE.
USE SENSIBLE.
In this assignment I’m going to Produce a proposal containing
the essential information for the start -up of a business.
Name of Business:KOYLE
Address:House of Fraser, 101 Victoria St, London
Business Structure:My business idea is to start up business in
within the clothing/ retail industry. My aim is to sell designer
clothing (Gstar raw, EA7, True Religion, and Creative
Recreation) and my own branded clothing (Yoke menswear).
These clothes will be aimed at trendy young adults who are into
the latest and best of the brands above.The name of my retail
business will be ‘KOYLE’. This is because it is unique and
different from all other retail names.
Description of the business:I would like to be self-employed
because the achievement at the end of it is great, and allows
you to feel proud of yourself to have come so far, and struggle
in the meantime. It would help to boost my self-esteem and
enable me to think that if I can start up my own business and it
is successful then I must be anything to do anything else I put
my mind to. Also I would gain independence as when my
business is up and running couple years after that I will be able
to go work when I feel to and leave when I feel to. My short
term business goal is to start an online chain and increase the
amount of advertising for my products and store through the
media by using Radio, internet etc. Also I would like to have the
opportunity of having a selection in department store such as
Debenhams or John Lewis. This is because they are well
established stores who have a wide customer base. This will
help me to build the customer base of my own clothing range.
My main short term financial goal is for my business to
, Unit 36 - P5
FOR NOTES AND GUIDLINE PURPOSES ONLY, COPYING THE
WHOLE DOCUMENT WILL BE COPYWRITE.
USE SENSIBLE.
breakeven. I also want to have started to pay of my bank loans
that I have been borrowed. My long term business goal is to
expand my business nationalising my store and brand. I would
like to have a store in big shopping centres such as Westfield’s,
where there is a high volume of customers on a day to day
basis due to having a national establishment. My long term
financial goal is to develop a strong relationship between me
and my suppliers, this will give me the opportunity of getting
stock and delivery’s at a discounted rate. In addition, another
long term financial goal is for my business to increase sales
revenues and start making a profit after breaking even.
The unique selling propositions for my products and services
are that as well as new and exclusive clothing I will also be
offering limited edition & dead stock clothing and footwear. In
addition to this I will be selling my own brand clothing (LMDN)
in my store. The pricing method that I will be using is
penetration pricing. I will be using this as it will mean that I will
be able to build a relationship with my customers. When my
business has ventured of I will be able to use competition
pricing as this allowed me to price my products at a price that
will compete with competitors such as urban junction and Foot
asylum. The market is currently undergoing growth. A reason
for the growth in the market is that fashion trends is becoming
a really big as they are now being influenced by worldwide
superstars such as Rihanna, Chris Brown ASAP Rocky and
Kanye West. The only threat this may cause me is if the
industry was to flip the fashion styles to the opposite of what
am doing.
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