The task set to do was for my business studies coursework was to choose a vacant local business site and make recommendations on how it may be developed for business purposes. I have decided for my project to start a business that would be providing a service of selling clothes and accessories that have been imported from America. The store would contain American well-known label clothing. I want to go into this line of business because I feel there isn’t enough variety of clothes for the young youths as well as adults. There would be a variety of clothes ranging from hats to shoes.
I wouldn’t manufacture the clothes; I would buy well-known labels from factories. The items in the shop would be cheaper than any other shop in England. The labels that would be sold in the shop would contain: Fubu, Timberland, Nike, Adidas, Reebok, Sean John, ruff ryders, Rocerwear and many more. There would be designer clothes that would be sold. There would also be accessories like sunglasses, goggles, swimmingtrunks, hats, wristbands and headbands. There would be a wide range of trainers that England don’t manufacture. Most or almost all of the products would be American.
I want to use the skimming method. I feel this would be risky but the products would sell quickly after the prices go down. I am positive I can cope. I am very self driven, diligent, inventive, independent and diligent. This would be a full timeresponsibilitythat I would strive try to overcome any problems. I am going to write out a start up plan to try and help me anticipate what I am going to do with the business. It would be essential that my business have a clear aims and targets set. After choosing my vacant site and made recommendations.
I will peruse my aims and objectives. The business plan would state information like where I am going to locate, my objectives, strategies and my overall outcome. This should also help convince financial backers that this is a sound investment because this would be shown to them to authorise a financial loan to me. Also if the business were a bad idea the financial backer or me would recognise this at the planning stage. Which would be before anymoneywas invested into the business or any time was wasted on a business that wasn’t going to work.
At the end of my business plan you should be able to understand what my requirements are and I how I want to fulfil them. Preface I went on holiday to Saint Lucia on the 25th June to 21st July 2002. It is a beautiful country and I extremely enjoyed myself there. I went to loads on parties and celebrations, but there seemed to be something different about the way people dressed. Most of them looked more presentable and ‘cool’. Most of my cousins had that type of clothing especially the youths (around 14-20). I had asked them where they bought their clothes because I was interested in buying some for myself.
I went to the store and the clothes were absolutely brilliant. I couldn’t believe my eyes when I say the prices. I bought a few and came home back to England with them. I was going to a party and my friends were asking me where I had bought the gear. I explained and they thought of an idea ‘I wish they sold those types of clothes. I would go there every minute! ‘ While I was waiting at the bus stop on my way to the party, 4 people came up to me at different periods of time asking where I had got my clothes from. I was only at the bus stop for ten minutes.
After that encountering I decided that I would try and open a business of some sort selling this category of clothing. Clothing is one of the needs for human beings so this business idea has some significance, which would be noticed by the public. I though to myself it would make a lot of money if this is what people want to wear then my business would be a success. Also I don’t know of any shops that sell these products so I would have much competition. This field of business suits my skills, in a way of persuading the customers to buy the product.
Also I am going to establish the right image to the market. Also treating my customers withrespect. I don’t have much experience in this field of business but I am hardworking and a desire to succeed. It suits my ambitions, as I want to control my own business. I am also a good leader I have had many positions of leading groups of people. I am a natural leader. I get on well with other people. Lots of people seek advice from me. I feel I have the mental and physical strength to take on this business.