Business in the Retail Clothing Sector - Paper Example

The retail clothing sector is one of the most competitive and ever-changing sectors in the industrial sectors as a new trend, fashions and design emerge daily. There is always a climatic or weather change year round; there are new upcoming activities and games coming up which makes people always desire for more as their needs are repeated and insatiable. This trend of the unpredictable, unsteady state of the want of these repeated and insatiable needs makes one be on toes to get the required products thus as an industry we also have to put up with the pace by offering reliable, fashionable and effective products to stay in the market.

While deciding on the business idea, research was carried out in the town of Sydney, the neighboring towns and its outskirts by a group of 10 personnel for one month to research on the market wants and needs and the industries providing these goods and services. From research, it was found out that there is great need of providing head wears as activities needing these services were increasing.

The research was carried out by use of questionnaires, face to face informal interviews and through observation on the livelihood of the people in the stated areas and through the trending activities. The research showed that more people were opting to play soccer, cricket, and rugby which are quite dangerous games that may affect the head which is a vital organ and head damages are fatal (Varley, Gabbett, & Aughey, 2014). It was also found out that changes varied from warm and hot summer to mild winters; hot summers needed sun hats that would protect and cover the head from the direct effect of the scorching sun (Vardoulakis et al., 2014). Finally, leisure activities carried out included horse racing that could cause breathing problems due to the difference in pressure between the nose and the outside due to the high speed of the racing horse thus a headgear covering the nose needed to be developed.

The headgear is a hat, helmet or any item worn on the head. Headgears need to be light and also provide a space for nose and mouth to avoid suffocation (Salvaterra, 2016). The main headgears I decide to offer are baseball and golf caps, helmets, bowler hats, knitted hats, sun hats and Marvins.

The knitted hats will be obtained from the local knitting firm, the helmets, bowler hats, golf caps and baseball caps will be imported from the USA, Germany, and England while the sun hats will be made locally and also imported from China.

Advertising and promotion of our products are to be done through the use of social media platforms such as Facebook page through sales promotion and end cap-marketing. Finally, we will support the cause activities that would sensitize the public on the dangers of head damages and advocate for the use of headgears. Finally, our strategy of ensuring customers satisfaction is to provide classy, fashionable headgears at reasonable prices and as per the demand.

The promotion activity we are to use is supporting the cause of project that dealt with sensitizing on the dangers of head damages by organizing games, leisure activities, and road shows. The slogan will be Headwear save a life. We would market our product and why they need to be used to reduce the damages caused if we are supporting the sensitization promotions. During these shows and tours, we will also sell some of our products. Finally, we will assure our customers of affordable price, quality product, and adequate supply.

The budget on such tours and activities will be funded by part of the profits the company is making, support of the government and non-governmental organization involved. After sensitizing and promoting our products by tours and cause activities, follow up is to be done and also further promotional activities are to be done by our social services Facebook page.

Any complaints and any information will be catered by our customer care service and feedback dispatched to our customer.

Monetary Costs

Sources of Capital

My trust fund

Loans from Saccos

Government supports

Personal savings

contributions Amount

$ 200

$500

$200

$200

$100

Expenses

Rent

Payroll

Advertisement

Buying supplies

transport $ 300 per month

$ 100 per worker per month

$ 50 per month

$650

$100

Income

Sale of headgears

At least 10 headgears per day @ at $25

SWOT Analysis

Strengths

The motivation any man desires is knowing there is something they can have faith in. One such desire is knowing your business has strengths to compete in the industry. As a headgear product and service business, we are not left behind. Our strengths include;

Strategic location the business will be located in Sydney-one of Australias largest cities and with a population of about 5 million people. Further, the great countries of the USA, Germany, and England are Australias neighbors. What more strategic position would one desire other than this?

Business niche walking into an assured business gap gives me a heart relieve. Most companies have either neglected or just ignored the importance of headgear provision. Knowing that there is a ready market yet no available supply or if any, insufficient, then I boldly step into this business.

Favorable government policies free advice for you. If you are to succeed in business, let the government be on your side. Favorable government activities such as low taxation on the headgear importation make this business viable. Finally from the research included the government is supportive of the idea to protect their athletic citizens from injuries. Wilding, M. (2017).

Weaknesses

Whenever there are ups, then be ready for downs. Like any business, ours is not excluded from having weaknesses. I will, however, major in one major weakness we face.

Ignorance if you thought dealing with a learning toddler is hectic, then you need to rethink. Dealing with an educated, learned but ignorant person especially an adult exceeds them all. Most people are aware of the head effects that are included but are ignorant. Embracing use of headgear to most people is hard. This factor makes it hard for a new business venture such as ours.

Opportunities

When there are favorable junctures of circumstances, please utilize them. As an individual, I saw opportunities in the headgear market, and here I come to face my demons. These opportunities are;

Availability of a business gap there are few companies offering headgear provision.

Ready market most people in Sydney play the games that need headgear, these people offer the ready market for services.

Online marketing its a gift of nature. I intend to promote and sell my products and services using an online platform such as Instagram and Facebook.

Threats

They make me shiver a little threats. As a business, the biggest threat will be competitors and the fact that headgears are durable.

Competitors If there is something mind-blowing, is when you think of your business falling out because of other businesses. As a startup business, we have to brace ourselves to remain relevant in the market.

SWOT Analysis Quad Chart

STRENGTH

Strategic location

Business Niche

Favorable government policies WEAKNESSES

Ignorance

OPPORTUNITIES

Business gap

Ready market

Use of online platforms THREATS

competitors

Will you continue with the business venture? A friend would ask. I would just smile and reply Is that a confirmatory question? The headgear business venture is one thing am certain I am willing to die for to see it thrive. So yes, I will do it over again better, once I set it up.

References

Salvaterra, G. (2016). Evolution of sports-related headgear. Sports medicine and arthroscopy

review, 24(3), e34-e41.

Vardoulakis, S., Dear, K., Hajat, S., Heaviside, C., Eggen, B., & McMichael, A. J. (2014).

Comparative assessment of the effects of climate change on heat-and cold-related mortality in the United Kingdom and Australia. Environmental health perspectives, 122(12), 1285.

Varley, M. C., Gabbett, T., & Aughey, R. J. (2014). Activity profiles of professional soccer,

rugby league, and Australian football match play. Journal of sports sciences, 32(20), 1858-1866.

Wilding, M. (2017). Henry Kendall's recovery at Brisbane water. Quadrant, 61(6), 75.