How would you use the 25,000 finance?

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Nov 18, 2022

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I need a really strong business plan based on the below mentions points and area covered. Please read carefully. Thank you!
Business Plan for business funding application approval

Summary :

ABC Boutique designs to sell the womenswear which are high quality, chic, modern with all the flattering cuts and are comfortable to wear and affordable to buy.
Initially, my plan is to buy wholesale clothing and sell them on my online store then gradually introduce whole my own line. I have already prepared some of the designs and trialed to sell them via different channels such as Instagram, my online website, Facebook and Ebay and I have got a really good response on them so far.
Gradually I want to introduce more designs as I gather more detail about people interests. I will invest money in fabric purchase from wholesale and design dresses which are not easily available in mainstream shops or are expensive because they are mostly sourced from abroad. My main focus is on modest but stylish maxi dresses, shirt dresses, denim clothing, tops and tunics. I also need to invest in
I intend to hire the employees and train them as business grows to produce my own designs. I also want to invest in really good packaging and promote as a gift options as well.
I have registered my business as a sole trader but as business grow I intend to convert in into the limited company. My main selling channels will be my website, amazon store, ebay store and my social media and once business picks up I intend to rent a shop.

Key MileStone: I have already created the website. Customers can place order via different payment methods including PayPal, Apple Pay, Google Pay and all major debit and credit card.

Survey/market research
I have done my research and have been learning about the gap in the market and where there are modest clothing available but most of them lack the stylish touch. I am going to introduce and create the designs according to the changing environment, which will be modest as well. I will be focusing on marketing services with a targeted advertising campaigns and networking. I intend to promote the website in all sort of marketings including social media, magazines, flyers and business cards. I have gathered an email lists from the customers with their consent who have shown interest. My website is in working phase and will soon go live.

OBJECTIVES? SMART means SPECIFIC, MEASUREABLE, ATTAINABLE, REALISTIC, AND TIME BOUND
Please see below examples.
Customer relationship framework
Reducing direct cost 20% by negotiating with suppliers on higher purchase volumes.
Increase revenue by 5% each of next quarter.
Suggestive selling techniques to increase revenue by 10% by the end of financial year (assuming business start date as 01-02-2022)
Service quality survey within 30 days of their first purchase

HOW WOULD YOU USE THE 25,000 Finance?

Things to consider:
– Is all your expenditure needed at the outset? Please consider your total funding requirement over the first 12 month trading period
– Please could you provide a full and detailed finace breakdown? This needs to be very specific. Like a shopping list, please provide details of each item with a £ value alongside each item. The more specific and detailed you are, the more likely you will be successful. Please provide a brief descriiption of why each item would be useful for the business. Please see some examples below.(ITEMS TO BE PURCHASED: SEWING MACHINE, MANNEQUIN, WEBITE COST, WHOLESALE CLOTHING, )
– Equipment purchase £3000 total. £2000 for a SEWING MACHINE and £1000 for LAPTOP AND OTHER STUFF LIKE MANNEQUINS AND THINGS YOU CAN USE IN DRESS DESIGNING BUSINESS.
– Working capital – surplus of stock. For example, paying creditors
– Staff HIRE (I CAN STITCH MYSELF AND INTEND TO HIRE SOMEONE WHO CAN PROVIDE THE SERVICE AS BUSINESS GROW)
– The FINANCEFINANCE will be used to fulfil purchase orders

MY SKILLS:
I am a very creative person and have deep interest in dress designing. I always enjoyed creating designs and becoming an entrepreneur in this field as dress designing can be immensly rewarding business through online platforms. I am computer literate and have done the marketing previously as a volunteer for small scaled businesses so I have experienced with the online selling.

MARKET AND COMPETITIONS?
SALES AND MARKETING PLAN?
INTEND TO TAKE BUSINESS INSURANCE
CASH FLOW PROJECTION

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