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BusinessPlanI.pdf

Running head: FASHION POINT BOUTIQUE COMPANY 1

Business Plan Part I-Business Vision

Student Name

Professor Name

Course Name

Date

FASHION POINT BOUTIQUE COMPANY 2

Fashion point Boutique Company

Fashion point Boutique Company is a start-up company that will deal with the best

collections of all types of clothing and shoes for men and women. The shoe products for men

will includes sports shoes, official leather shoes, and the latest sneakers. For ladies, foot wear

will include ladies sandals, ladies open toe shoes, high heels, and closed toe flat shoes. The

business will also provide customers with the latest and high-quality clothing. Clothes will

include; the latest jeans, khaki trousers, T-shirts, official shirts, and jackets. The collection will

also offer high-quality products that will meet customers’ needs. Moreover, the main goals of

this enterprise are to meet the market size of approximately 80,000 people and market

penetration of about 25% in the period of the first two and a half years. This paper will discuss

the value of proposition, the vision and mission, feasibility analysis, and the business model of

Fashion point Boutique Company.

Mission and Vision of the company

Mission statement

Fashion point Boutique Company’s mission is to offer a clear platform in which it aims

to create awareness for community concern, welcoming customer service and reliability of high-

quality products offered.

Vision Statement

The vision of Fashion point Boutique Company is to offer a high-quality recent fashion

collection and create the best in the service provider in the entire country. The business will aim

at maintaining crucial standards which will be a great pill for future success and establish a firm

foundation for the enterprise. The standards include; teamwork, marketing skills, proactive

initiator and integrity.

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The value proposition of the company's products and services

The value proposition is a very crucial part when evaluating a startup business since it provides

answers to customers’ questions that meet their needs (Arvanitis, & Estevez,2018). This startup

business will be in a position to offer customers high-quality products and free delivery services.

This will reduce carriage and traveling costs incurred by the customers; therefore, it will make

the company more unique from the rest of its competitors. Additionally, Fashion point Boutique

Company will offer desirable collections at a discounted price. This service will benefit

customers by allowing them to purchase the products at affordable prices, which are lower

compared to other competing companies. Consequently, the business is planning to provide a

variety of clothes and shoes which are desired by clients but scarce in the market. This includes

brand name sneaker type shoes in which some people consider to be of a high class standard

from Nike and Adidas. In addition, the company with its executive board will create policies that

will enhance relationships between employees and customers.

Business model

The business model consists of various sections that correspond to very critical operations of the

business. These sections include (i) target market, which gives information on the product that

mainly serves the customer requirements; (ii) business process, which indicates all the

procedures and operations of the business to deliver value to the customers. It includes

distribution and movement of products to target audience; (iii) strategic positioning, which

explains how the business is positioned in the market relative to other competing companies and

factors considered in providing unique operations that have an advantage in the market.

Furthermore, the startup company employs the sharing economy business model to facilitate

sharing, as well as scaling the business much more quickly while also offering value in the form

FASHION POINT BOUTIQUE COMPANY 4

of sustainability. This model provides benefits both to the company and the customers because it

minimizes waste of resources and includes co-operatives, co-creation, recycling, and re-

distribution of goods (Bocken, de Pauw, Bakker, & van der Grinten, 2016). Moreover, they also

allow items to be consumed by multiple persons. Since the model has various associated risks,

the company will make sure it executes the process effectively and protect its customers’ privacy

and safety.

Feasibility analysis

Technical feasibility analysis

Fashion point Boutique Company will conduct a feasibility study in order to investigate

various tools of the business project. This is a very critical area of study that will require the

executive board of the company to plan before undertaking any business plan. The company will

conduct a market feasibility study before entering the target market in order to invent true

potentiality of a business opportunity in the market. Proposed business will conduct analysis

using data in various steps which are;

a) Evaluation of system and technological requirement

In this step, the company will establish issues related to availability and quality source of

data, data processing methods and analysis, and also software used in the project.

b) Evaluation of legal requirements

This will be the rules of publishing products to be dealt with in the market using data, soft

wares, and method. It will indicate that information stored in a metadata or company website will

be published.

c) Evaluation of economic requirements

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In this analysis, it will consist of the price of data and softwares purchased by the

company and the cost of employment to various activities that will be undertaken.

d) Time schedule requirement

This analysis step will describe the time taken to complete various procurement tasks and

data processing.

Alternative analysis

In this scenario, the company will evaluate alternatives after discussing various issues. The

analysis will help to fetch new ideas in a wider view. The participant during this analysis will

discuss alternatives to the proposed ideas and give different suggestions which can possibly work

better. Additionally, the company will establish possible pathways that will help in future

operations. This will also help to identify any limitations or challenges that might occur in the

future and how they can be resolved.

Market assessment

In this phase, the analysis will establish if the market is ready for the idea. The method can be

done through market research of data collection like the use of a questionnaire concerning the

targeted market. To earn a high revenue, the Fashion point Boutique will examine if the

collection will experience market success. This will be achieved by estimating the product

demand to calculate probable market share. To complete this analysis, the company will identify

the existing competitors and potential customers in order to have information on probable project

sales revenue in a period of at least three years (Ghezzi, & Cavallo, 2018). Depending on the

demand in the market, the company will target potential customers with new or existing product.

Economic feasibility

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The company will discuss and confirm if the rate of return on the product will be

sufficient to earn maximum profit. This is the phase of analysis in which the business will

determine whether the proposed company will earn sufficient profit, and a margin for future

expansion. Moreover, the analysis will help to determine if the proposed company will proceed

with the idea.

The mission and vision statement of the startup company is important because it defines

the business, products or services, and customers, as well as allowing the organization to

differentiate itself from its competitors. Consequently, the business model and value of

proposition are essentials in this startup business; it scales the business more quickly and

enhances the utilization of resources. Furthermore, the company conducted feasibility in five

different areas, which includes: Alternative feasibility, economic feasibility, market assessment,

and technical feasibility.

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References

Arvanitis, S., & Estevez, L. (2018). Feasibility Analysis and Study. In The Emerald Handbook of

Entrepreneurship in Tourism, Travel, and Hospitality: Skills for Successful Ventures (pp.

109-129). Emerald Publishing Limited.

Bocken, N. M., de Pauw, I., Bakker, C., & van der Grinten, B. (2016). Product design and

business model strategies for a circular economy. Journal of Industrial and Production

Engineering, 33(5), 308-320.

Ghezzi, A., & Cavallo, A. (2018). Agile business model innovation in digital entrepreneurship:

lean startup approaches. Journal of Business Research.