Reference no: EM133441145
Business Plan Proposal
Our international business plan involves exporting a sustainable apparel brand from India to UK. We will be exploring this plan in further detail below:
Product/ Service: Sustainable clothing line
Target audience:
- Young adults aged 18-35 who are environmentally conscious and interested in sustainable fashion.
- Individuals with higher incomes who are interested in sustainable fashion
Exported to: United Kingdom
Export market analysis: UK has set environmental sustainability goals that it wants to achieve by 2050 thus it will have to observe some changes in the way its consumers consume products. A Unilever study reported that 33% of the UK are choosing brands perceived to be environmentally sustainable. 53% shoppers said they feel better about their choices if they are socially responsible. There is a general uptick in people wanting to make more ethical and socially conscious choices which shows that there is potential in the UK market.
Supply chain:
| Headquarters |
Canada |
| Manufacturing |
India |
| Import |
India, China, Turkey and Bangladesh |
| Exported to |
United Kingdom |
Marketing strategy: The garment line's sustainability and environmental friendliness will be the focal points of its marketing strategy. Emphasizing the product's environmentally friendly components and manufacturing processes will be done through various promotional channels. The brand will be promoted through social media platforms, influencers, and fashion events. We can promote via trade shows as well.
Human resource management: We will have to ensure that cultural differences are addressed as our operations are across multiple countries. Additionally, we will have to provide adequate training to employees to ensure quality production, workplace safety regulation will have to be strictly implemented where labor laws are relaxed.
Financial analysis: The financial analysis will determine the manufacturing, shipping, advertising, storage, and distribution costs of the clothing line. The product pricing will be determined to ensure that the company makes a profit while maintaining prices that reflect the premium nature and high quality of our products. Our sources of financing will include private equity funding, venture capital funding, and bank loans.
Risk analysis: There are risks in the form of legal, operational, economic and political. We will be conducting extensive research on all the countries involved to plan risk mitigation.
Question:
Prepare a Cost Sheet for this business