Small Business Plan

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Small Business Plan

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Executive Summary
Proposed Name of business: Chocolate Milk
Proposed address:
Prime function of the business: providing a variety of clothing to men Mission statement of the business: to provide Men with quality clothing, having a variety and a great location. Vision of the business: aim of the business is to expand and franchise to allow customers to purchase quality clothing Legal structure of the business: legal structure of Chocolate Milk is a private company that is an incorporated business with limited liability. Chocolate Milk has become a sole trader, positive highs of becoming a sole trader is that you are able to make your own decisions. If the business is interested in expanding in the future it will then become a franchise, doing so will expand the business so it then becomes well known and is a great marketing strategy. C

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The products your business will sell:
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Casual T-shirts
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Dressy tops (club wear)
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Jeans pants (long /and shorts)
Jackets / jumpers (ranging from all different materials)
Swimwear (trending shorts)
Accessories ( backpacks, sunglasses, bracelets)
Financial goals of the business:
Expanding into a franchise
Having a variety of men’s clothing (shoes, hats, jewellery)
To expand and produce chocolate milks own clothing line
Social goals of the business:
Personal goals of the business:

Situation Analysis
Target Market: the target market of chocolate milks business is targeting the ages of 17 to 26 these are the ages that continue to stay with the trend, the most popular clothing being casual but indie, meaning fashion that will stir the normal trend, and may even bring the old ones in.

Key competitors:
The key competitors of chocolate milk are a variety of high fashion trend stores that have become very popular are:

These stores are high competitors because they have franchised and expanded their business. They have gone further to put up a online store for their brand, which has expanded them further, it is a good market plan that boosts up your business, and gets your name/brand known all over the world. These stores are a main threat to chocolate milk because they serve for the same age group and have the same fashion trends.

The establishment stage of the business:
Chocolate milk has many characteristics of the establishment stage of the business life cycle some are:
Positive cash flow
Creating name/brand of the business and registering it as your own
Monitoring the business and evaluating the weakness’s and improving on it to then set a firm foundation for your business, for the future years, and continually improving
Having a healthy customer base flowing in
Benefiting your business by having a positive amount of profit
Having high quality staff that will represent your business
Continually staying on top of all the financial work within the business

Swot Analysis ♦| | | |
Outline strengths(internal)| | Outline weaknesses (internal)| Outline opportunities (external)| Outline threats(external)| * Customer loyalty * Having popular products * Keeping up with fashions trends within the market * Having high quality staff that are continually proving themselves| | * Main weakness the business faces is that it hasn’t expanded to be an online store to further more opportunities * And having only one location is a very big challenge because advertising has to be very high * Only targeting men| * To target the online market sales * Having new technology to increase our customer base (advertising on high end sites that will gain interest of customers)| * Customers are continually using the online buying instead of...
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