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Business Plan: Engineering Business Management

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Question:

Discuss about the Business Plan for Engineering Business Management.

 

Answer:

Introduction

This business plan illustrates the startup idea of Gorgeous Fashions Company in Australia. Its aims at providing the newest fashion designs to women and young girls in the fashion market with various ways of achieving the desired objectives. Melbourne district will serve as the market place with marketing strategies being direct and specific. The total startup capital is one million dollars coming from the developer’s savings and payable loans.

Business description

Gorgeous Fashions will open soon to manufacture and offer wholesale services of newest fashion and designs in the fashion market. Gorgeous which means beautiful and unique stands for the kind of products aimed to be provided to women and young girls in the fashion market. Clothing selection of the newest designs in the market exclusively made of high quality fabric will be available for personal desired style. Gorgeous developer has a five year experience in the fashion and design market important to developing this service[1]. Other management personnel’s include leaders of the various departments within the company.

Mission

To provide both women and young girls with manufacturing and wholesale services of the newest cloth fashion designs in an appropriate environment.

Vision

Be the best manufacturer and wholesaler of newest fashion designs in the fashion market.

Objectives

  1. To manufacture the best fabrics for fashion in the market
  2. To provide the newest fashions and designs to all women and young girls

Key to success

  1. Having a reliable manufacturing system
  2. Ensuring an outstanding and reliable customer service platform
 

Target market

Gorgeous Fashions will be the ultimate stop wholesale store for newest fashions and designs for both women and young girls in Australia. With the finest touch of designs and fashion fittings all women and young girls in Australia and those visiting will feel free to have a look as they purchase in accordance to their desired will. Gorgeous Fashions developer has a desire to give women their desired look by providing the newest designs.

Marketing Place

Melbourne as a growing business district in Australia will suit the best marketing place of the new company[2]. With most stylish women and young girls, the district is the most favorable and strategic place for Gorgeous fashion company as a first time business.

Marketing Strategy

Gorgeous Fashions developer will enhance online marketing to create awareness of the company’s existence and use of PR tactics to reaching personnel stylists to ensure a good relationship with referred customers[3]. One on one with the existing retailers in the fashion industry creates a   healthy marketing link as the retailers understands the texture of the design from the manufacturer.

Competition

As a first time business in the fashion market in Australia, Gorgeous will face stiff competition from  other companies like, Dogstar which is a women clothing with Japanese fashions made in Australia, Farage that is a women’s fashion label in Australia and Cooper street Clothing providing feminine fashions design that are inspired by international trends among many others. To save itself from this level of competition, the company has a great role to play in ensuring they give the best to their customers[4].

Financial information

The business requires approximately one million dollars (1 million) to start. Capital to buy the manufacturing gadgets, rent to pay the startup store if its rental, capital to buy fabrics, capital to pay the few startup employees including the sale and marketing activities. Source of capital will be from developer’s savings and loan.

Product                                                       price

Manufacturing machine                          0.6million dollars 

Fabrics                                                     0.3million dollars

Employees’ salaries                                0.1million dollars 

 

Reference List 

Battista, Claudia, and Massimiliano M. Schiraldi. "The logistic maturity model: Application to a fashion company." International Journal of Engineering Business Management 5 (2013): 29.

Matthiesen, Insa-Mascha, and Ian Phau. "Brand image inconsistencies of luxury fashion brands: A buyer-seller exchange situation model of Hugo Boss Australia." Journal of Fashion Marketing and Management: An International Journal 14, no. 2 (2010): 202-218.

Ogawa, Susumu, and Frank T. Piller. "Reducing the risks of new product development." MIT Sloan management review 47, no. 2 (2006): 65.

Weller, Sally. "Consuming the city: Public fashion festivals and the participatory economies of urban spaces in Melbourne, Australia." Urban Studies 50, no. 14 (2013): 2853-2868.

OR

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