business proposal

Diamond Designers (hapinexemerald fashion trend)

ABSTRACTA business proposal that covers a business idea that diamond designers and hapinexemerald fashion trend have in mind and how there intend to develop this idea.

Happiness D. Okora Bme1309017Proposal to: Institute of Technology and Management

Contact:

dfdc@crsg-itm.gov.n

happinessemerald.blogspot.com

www.facebook/danielhappiness1994

Business Management and Entrepreneurship ND1

Entrepreneurship Innovation (ENI1)

Mr. Samson Musharu

Proposal from new Ideas

29th June, 2015

A business proposal report that contains two innovative ideas and how diamond

designers intends to develop this business ideas, also evaluating the pros and cons,

the definition of business proposal, purpose, vision, potential customers,

competitors, SWOT analysis for the business, potential return on capital invested,

barriers, protection of the idea we have and the sources of advice given to us that

are found in such business.

This business idea of establishing a fashion designing company in Ugep was

developed by Diamond Designers and Hapinexemerald Fashion Trend as a result of

imagination creativity method which helped me to see the need for a company like

this due to the benefit it will bring to us and to community where I intend to establish,

one of the benefits to my potential customers is quick delivery while to the

community is employment.

Pros of diamond fashion designing Cons of diamond fashion designing

New Trends: (Crystal, 2015)as a

designer you always have your eyes on

new styles and know the best outfit for

an event.

Long Hours: this is as a result of

working under deadlines and also

working to meet a client needs.

Publicity: as a fashion designer you

have opportunity of advertising your

new trends on media and also gain

Daily Chores: this comes as a result of

designers doing different task on a daily

fame. basis e.g. measurements and sketching

Laid-Back Setting: designers interact

with their client as friends because they

tend to practice after sales customer

based relationship with their clients.

Competition: due to already existing

brands in the industry e.g. Gap and

Zara and the rate of attraction into the

industry.

Human Art: due to the nature of job

designers use the human body as

canvas and get to dress all types of

people because when they put on the

clothing they become a piece of art.

Location: this kind of businesses are

mostly situated in big cities where you

have closeness to raw materials.

Low starting salaries: the salaries paid

to an entry level designer position

cannot be compared to the work done.

PROS OF HAPINEXEMERALD

FASHION TREND

CONS OF HAPINEXEMERALD

FASHION TREND

Resources: as a result of African prints

(Ankara, wax and high-target)available

Workforce: this due to the fact that

people who can make Ankara

in Cross River State accessories are not within the location

Location: the business has no specific

area where it will sell

Time consuming: this is as a result of

not been able to produce more than five

design a day.

Creativity: as a designer of such fashion

you have to think critically on the kind of

styles you design.

Styles go out quick: as a result of

innovating new styles every day you

find out that every day you have to

create a new style.

Competition: due to the fact that this

business is not yet fully blown in the

clothing industry

Publicity: this will make you to feel the

comfort of seeing your designs on

media and people talking about your

trends

DEFINITION OF BUSINESS PROPOSAL

A business proposal is a written document that offers a particular product or service

to a potential buyer or client. There are two kinds of business proposals: solicited

and unsolicited business proposals. (Ruben, 2014)

This business proposal is to give my prospective investor the overview of the kind of

business I intend to establish and the business sector which it operating.

PURPOSE

The purpose of doing this business is to promote African made fabrics through

fashion and to give my potential customers the best and the latest design of Ankara

accessories (Jewry, shoes, bags and clothes) design and to also create employment

for the unemployed.

Fashion is an aspect of the culture of a vibrant, passionate and flamboyant people.

The Nigerian Fashion scene is an outlet or another face of a people that brings out

the creative nature and passion of the people who are colourful, expressive, curious,

rich and daring (Olubukola, 2013)

VISION

To be among the top five world Ankara accessories and dresses designers in 2025

POTENTIAL CUSTOMERS

Boutiques

My Asho

Pageants

Highly influential people

Festivity

COMPETITORS

Jewels by Lisa

Do It Yourself (D.I.Y).com

Fulfilment stiches

SWOT ANALYSIS

Strengths

1. Quality Design

2. Latest trends

3. Affordable prices

4. Availability of resources

5. Distribution channels

Weaknesses

1. Location

2. Man power

3. Brand recall

4. Low productivity

Opportunities

1. Employment

2. Publicity

Threats

1. Competitors

2. Power supply

3. Expansion into other states

4. E-commerce

5. Training from experts

3. Poor road network

4. Poor communication network

5. Consumer switching

POTENTIAL RETURN ON CAPITAL INVESTED

Hapinexemerald fashion trend intend to start-up this business with the sum of

N1.2million and if we are been granted funds to execute this business we will return

the total sum invested at the end of two (2) years due to the kind of profit we expect

to make in a week.

Calculation on the return on capital invested

Subtract capital invested from the present value of the investment

1,200,000 – 1,500,000 = 300,000

Divide change in value by the original investment amount to calculate the return on

the capital invested as a decimal

300,000 / 1,200,000 = 0.25

Multiply return on capital invested as a decimal by 100 to convert to percentage

0.25 x 100 =25%.

Therefore, at the end of each month Hapinexemerald fashion trends will return 25%

on the capital invested.

BARRIERS

Barriers are factors that prevents new businesses from entering a particular market.

Product Differentiation: (Porter, 2013) incumbents have brand identification and

customer loyalties.

Capital Requirements: these is the financial resources required in order to establish

this business.

Switching Costs: these are one-time costs the buyers (Hapinexemerald fashion

trends) faces when switching an existing supplier’s product to a new entrant.

Government Policy: the government bodies regulating the designer’s right can limit

or prevent entry into this industry with various controls (licensing requirements, limits

to access of raw materials).

Economies of Scale: these are declines in the unit costs of a product as the

absolute volume per period increases.

PROTECTION OF THE IDEA

Hapinexemerald fashion trend intend to protect the idea of this business by using the

(Queensland, 2013):

Registered Designers Act

Designs Right

Patent

SOURCES OF ADVICE

Parents

Friends

Everyday surrounding (opportunities around me)

Competitors

In summary a well-structured business proposal will sell your creativity idea to

prospective sponsors and investors capitalist and they will not hesitate to invest in

the business, as an entrepreneur that want to establish a business and you are

proposing to get funds for your business you must do a market research on the

industry and also know the total amount you will be returning to your prospective

investors if granted the funding’s.

Reference

Crystal,L.(2015). Advantages of being a fashion stylist

Available at: http://www.ehow.com/info8586948advantages-being-fashion-stylist.html

(Accessed: 19th June 2015)

Olubukola, B. (2013) The Emerging role of Fashion Tourism and the need for a

development strategy in Lagos, Nigeria

Available:http://www.publications.theseus.fi/bitstream/handle/10024/63259/

Olubukola%20Bada%20%20Final%20Thesis.pdf (Accessed 22nd June 2015)

Porter, M. (2013) Barriers to entry factors preventing start-ups from entering a

market Available at: http://www.marssdd.com/mars-library/barriers-to-entry-factors-

preventing-startups-from-entering-a-market/ (Accessed 25th June 2015)

Queensland,(2013) Protect your business idea.

Available at: https://www.business.qld.gov.au/business/starting/before-you-start/

business-idea/protect-idea (Accessed 26th June 2015)

Ruben, G. (2014) How to write a business proposal.

Available at: https://www.blog.bidsketch.com/articles/how-to-write-a-business-

proposal/ (Accessed 19th June 2015)

References