Business Plan - finishingschool

Report
INDI
2
…a revival of Indian Wear…
Disclaimer
This is a sample business plan, so the company and
business information are fictitious
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INDI2 is a retail store for women’s wear with fine
quality and latest trends in the Indian Wear
Our focus is to promote Indian handicraft Chikankari
through launching a line of reversible Chikankari
Indo-western wear, and position ourselves as the top
retail store servicing this particular market
This business will cater to women (age 25 to 40)
The store will be located at South Extension, Delhi
Our brand has centralized itself directly in position to
the residential location and social activities of our
target market. We believe that this is critical to our
initial success and long-term growth
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INDI2 is an apparel store that caters to the people
who have true knowledge of embroidery, taste of
fashion and appreciate design innovations
Our forte is to offer different looks at the same time by
creating ‘reversible garments’ where one side is
completely Indian and the other is contemporized
Indian and in a variety of colours, designs and prints
We are the first and only brand bringing up this
concept in Indian Wear.
We believe in the use of natural organic fabrics like
cottons, silk, matka, chanderi, tussar
We also focus on very fine quality along with comfort
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To cater to the changing apparel needs of the Indian
Women.
To fill the gap between two varieties of garments
To introduce an innovative line of traditional Indian craft
To earn 70% market share and become the number one
ethnic Indo-western wear apparel store in Delhi
To receive a 50% profit margin within the first year
To have a customer base of 1,000 by the end of the first
operating year
To achieve a net profit of 55% by year two and 65% by year
three.
To promote revenue generation amongst Indian craftsmen as
our social responsibility
To promote environmental and craft sustainability
This is a fictitious graph to give an idea of our sales, gross margin and
profit. The actual will be derived after the financial plans.
The goal is to expand your income so you
don’t have to shrink your dreams
DREAMS
Home
Travel - Car
Education - Charity
Early Retirement
Investments
Pay off debts
Hobbies
Income
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To promote Indian handicraft and offer continuous
value added products to our customers
To offer quality and utility based designer wear
garments in an assortment of sizes and styles to
accommodate all varying body styles and shapes.
To showcase well-constructed fashions from
prominent and cutting-edge designers
To accomplish this, we focus on exceptional design,
innovation, quality, convenience and interactive
communication.
To help women learn what clothing and styles go
best with their unique personalities
To generate buzz and sales through top-notch
exclusive services
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To promote Indian
craft worldwide and
concentrate on its
sustainability
To be a distinguished
Indo-Western wear
retailer known in
Fashion capitals for
the concept, quality
of products, setting
new
trends
and
lifestyles
http://marknutting.com/blog/top-10-traits-of-successful-personal-trainers-4/
Having a good location in a high-shopping area
 Quality product and good relationships with
vendors
 Outstanding customer service
 Carry an assortment of sizes to fit the more ample
frames
 Provide customers with top notch personalized
customer service in an atmosphere of hospitality
 Advertise and promote in areas that our target
customer base will learn about our store
 Continuously review our inventory and sales and
adjust our inventory levels accordingly
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INDI2 is organized as a partnership among the two partners of
Nisha Bhawani and Sruti Jindal
All decisions are made in-line with the company objectives.
The duo will handle the designing responsibilities
Chandra E. Miller will handle all administrative and
managerial duties. She will assess the productivity and
perform informal employees evaluations of all employees
every six months
Derrick L. McCoy will head the merchandising section
Employees will be encouraged to work within their creative,
physical, and intellectual boundaries
All duties will be divided and delegated according to
strengths and weaknesses
Jobber
Manufacturer
40%
Advertiser
Broker Wholesaler
5%
25%
Employees
You
Store
30%
100%
Independent Business Owner (IBO)
Jobber
Manufacturer
40%
Advertiser
Broker Wholesaler
5%
25%
Employees
You
Store
30%
100%
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SWOT Analysis
5Q Model
Competitor Analysis
Market Scenario
Market Trends
Strengths
 Weaknesses
 Opportunities
 Threats
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We are the pioneers of reversible garments in
Indian wear with the use of this embroidery
India has a large no. of skilled human resources
and has the lowest labor cost in the world
Quality control is essential for us in terms of
trims, material, finishes and color fastness
Availability of natural fibers. India is the 3rd
largest producer of cotton and 2nd largest
producer of silk
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Raising funds: As a new name in the industry,
persuading investors to consider our business
plan
Lack of experience: The first store may have
drawbacks unknown before hand
Marketing and Advertising: Getting customer
attention needs funds and expertise
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People focus on sustainability; Rapid growth of
sustainable culture
New Product in Existing Market: There would be
a rapid growth in the market since many
customers invest in innovative products
Government incentive: It promotes Indian craft
and gives subsidies for providing livelihood to
rural workers
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Competition: Even though we are the first to
do reversible, we are not the first to do
Chikankari embroidery
Plagiarism
Poor state of economy: Indian market is
unorganized and inefficient in innovation
Market doesn’t value product correctly: they
need to understand the multi-utility of the
product
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Variety of two garments, in terms of style, color
and embroidery at the price of one
Personally customized outfits, depending on
the color combination and size
Customers who cannot change for different
functions or don’t want to repeat their clothes
either
Saves space at home and while travelling
Online shopping for customers who live in
places where there are no stores
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Establish stores under own label and follow the
Independent Business Owner (IBO) concept
Source natural fabric
Hire skilled human resource from rural villages
for exclusive embroidery techniques
Hire well trained tailors for construction and
finishing
Availability in sizes S-XXL
Customized garments as well as alteration
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Concept of reversible garments in Indian wear
has never been explored, so fashion conscious
people would be willing to invest in such
clothing
Catering to people who want to make a style
statement and a range for high end customers
By doing market research, we concluded that
9/10
shoppers
are
enthusiastic
about
innovative designs
Monopolistic Competition
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Our uniqueness is in the concept itself since it
has never been touched upon in Indian wear
We would sell reversible kurtas and reversible
chudidars as a set, so the wearer can choose
between wearing a tonal or contrast ensemble
Offer great taste and variety of colors,
embroidery and style
We also offer styling tips and other fashion
coordinates along with the garment
PATENT: We can have copyright for our
concept so others can’t do the same
 Providing after sales services to maintain
brand image and loyalty
 Visual Merchandising is key. Fancy and
interesting window displays associated with
our signature style
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Indian fashion retail industry is transforming rapidly,
thanks to growing organized retail, increasing
purchasing power and the new-found “look goodfeel good” concept in the youth.
Despite the economic downturn, Indian clothing
apparel industry registered a 9.9% value growth
reaching a staggering Rs. 28.10 billion
Women’s branded apparel markets are growing
annually at rates of 23%
Penetration of organized retail chains has
contributed to the growth of fashion apparel in these
markets. But price-conscious consumers and the
threat of imitation pose enormous challenges for
apparel manufacturers
http://tejas-iimb.org/articles/83.php
Clothing and Textile has the largest pie of
organized retail market
http://india.omretail.com/2008_02_01_archive.html
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"Fashion is a requirement for those who are
high in their success." -Luxury Consumer
Consumer confidence is the most important;
people don't shop when they are not feeling
good
The final purchase decision by a customer
depends upon rational factors of importance
and the willingness to pay for the same.
Factors of Importance
1. Signaling Style and Status
2. Fabric Quality
3. Value for Money
The following brands/outlets are our main
competitors since they work on a similar Indian
crafts line:
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Abu Jani & Sandeep Khosla
Surekha Jain
Dilli Haat – Sir Aurobindo Marg
Cottage Emporium - Janpath
Handloom House - Gurgaon
SEWA – Lucknow
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Manish Malhotra: One of the most famous
Indian fashion designers, used chikankari work
in his latest 2011 collection
He used a tone-on-tone embroidery to give a
patterned lace effect, combining it with gota
(a dull gold fabric for the borders)
The color palette included whites, pale
greens, aquas, and beiges
http://www.manishmalhotrablog.com/manish-malhotra-the-fashionicon/
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SEWA Lucknow: Chikan embroidery is done on
fine cotton fabric like muslin, cambric, silk,
crepe, organdie chiffon, and tassar
Their signature motifs are flower, leafs and
paisley patterns
Initially they mainly worded on a white-onwhite concept but as trends changed, they
have started mixing colored threads and soft
color fabrics
Garments mainly include kurtas, sarees, skirts
and shirts
http://www.craftandartisans.com/chikan-embroidery-oflucknow-uttarpradesh. html
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http://marknutting.com/blog/top-10-traits-of-successful-personal-trainers-4/
[accessed on 2 September 2011]
http://tejas-iimb.org/articles/83.php [accessed on 1 September 2011]
http://india.omretail.com/2008_02_01_archive.html [accessed on 2 September 2011]
http://delhi.clickindia.com/tourism/delhihaat.html [accessed on 1 September 2011]
http://www.cottageemporiumindia.com/ [accessed on 1 September 2011]
http://www.business-standard.com/india/news/kitindian-apparel-market/328669/
[accessed on 1 September 2011]
http://www.trans4rm.org.uk/business_vision.html [accessed on 30 August 2011]
http://www.trans4rm.org.uk/business_vision.html [accessed on 30 August 2011]
http://www.bplans.com/clothing_retail_business_plan/executive_summary_fc.php#i
xzz1WoGmD6Tk [accessed on 30 August 2011]
http://www.manishmalhotrablog.com/manish-malhotra-the-fashion-icon/
[accessed on 3 September 2011]
http://www.craftandartisans.com/chikan-embroidery-of-lucknow-uttar-pradesh.html
[accessed on 3 September 2011]
http://www.google.com/imgres?imgurl=http://classifieds.servicesquare.in/wpcontent/uploads/2011/01/mauve_choodidaar_chikan_suit_from_lucknow_ym86248x500.jpg&imgrefurl [accessed on 3 September 2011]
Nisha Bhawani
Sruti Jindal
PGFD ‘A’

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