Bella clothing and accessories are the business organization that is dealing in the clothing industry. Bella clothing and accessories is an apparel store for women. This store provides all the trendy clothing and accessories for the women according to the current fashion. Bella clothing and accessories provide trendy offerings at very low prices and special discounts. This organization mostly sells women clothing like top-wear, bottom-wear and many more. On the other hand, women accessories like, watches, bracelets, necklaces and many other items which are to be used by the women on a day to day basis. The organization caters all the requirement of modern women and cultural as well. The store takes care of both the modern as well as traditional requirements. This organization gives preference to all kind of women clothing; therefore, this is one of the social characters of the store which makes it different than others. The goal of the organization is to secure a good position among other top stores existing in the clothing market and providing the customers with the best services possible. This store has so many features that have the potential to bet other clothing stores in north-south Wales, Australia. The members of Bella on their own manufacture each item that is present in the Bella store. Bella has its own designers who pick the raw items and manufacture on their own. the finest quality of raw materials is picked by the employees of Bella so that the product quality is not compromised and the customers get what they are promised. Bella has a great team of HR and other operation managers who have chosen an amazing location for the store in order to attract a large number of customers and one where the social activity rate is maximum. Bella intends to take the brand name on a whole other level with an amazing team of employees.
There are many other large stores which give a great amount of competition to Bella therefore in order to maintain the brand name and the inflows, Bella tries to provide the customers with the great quality of products with much lower rate than other brands. In the store, many different types of categories are present in which clothes are categorized according to their price and quality. For instance, there are three categories, essentials, super and prime. In the essential category, normal kind of clothes is included which are required for the daily use and comes at a low price as compared to the other two categories. Super contains those clothes which come at a slightly higher rate than the essentials and lower than prime. Prime, on the other hand, includes those clothes which are a bit costly and not for routine purpose. All these different categories allow the customers to choose the product according to their comfort and the budget. The main objective of the store is to earn around 60% of margin within the origin year along with creating a base of 2500 customers and become a great brand.
To check the viability of the Bella clothing and accessories store, feasibility analysis is one of the best approaches. This approach will help to determine the different type of feasibility of the new project like economic, technical, legal etcetera. There are mainly five type of feasibility analysis which is, legal, technical, operational, scheduling and economical. Through this approach, it can be identified whether the new project is worth investing or not (Baer, et. al, 2015). Under this approach, one can study the market to which the project is related. Feasibility analysis of Bella clothing and accessories is as follows:
Economic feasibility- This step of feasibility analysis allows the organization to evaluate the financial statements including cost and the benefits of the company. This approach will allow the company to determine the profit, cost, and the viability of the project before distributing the resources. Economic feasibility helps to increase the credibility of the project and can be very helpful for the team to determine all the profits and benefits associated with Bella project. It will allow the team to make strategies according to the economic feasibility so that more profit can be obtained from the project (Child and Breyer, 2016).
Technical feasibility- Approach of technical feasibility allows an organization to focus on all kind of technology-related resources that are available to the organization. This approach will allow the team of Bella clothing to determine their potential of converting technical ideas into the one, which would be beneficial for the company. Bella clothing company will be able to determine their technology resources and their capabilities with the help of this approach. In addition, this analysis will give an opportunity to the industry in order to evaluate their technical resources and their complete use for the growth of the company (Edelman, et. al, 2016).
Operational feasibility- This analysis step is one of the most determining steps of the feasibility analysis. This step gives a clear vision to the industry regarding the feasibility of the new project or the startup. Bella clothing and accessories can be benefitted from this particular approach since it will allow them to know if the needs of the organization will be completed by the completion of the project or not. Bella clothing will also be able to know the way in which the project will fulfill the requirements of the organizations, which were identified during the system development.
Legal feasibility- All the legal issues related to the project comes under this type of feasibility analysis. This approach is used to determine whether the new project is legally feasible or not. Which means does the new operation have any kind of conflicts with the legal requirement or interferes with the legal system in any way which is not appropriate? For Bella clothing industry, this approach can be used to prevent the company from any kind of legal conflicts in the future. It includes factors like, proper location, proper scheduling, and anything, which can affect the legal framework or the practices (He, Fu and Hagg, 2015).
Scheduling feasibility- If a goal is to be conquered in a given timeline, then the chances of achieving the goal increases efficiently. Therefore, this approach is one of the best approaches to get a project going and to be completed before the deadline. Under this approach, Bella clothing and accessories will be able to determine the time required for the completion of the project. If any project is not completed within or before the timeline, then the chances of its failure increase. Therefore, this approach estimates the project time and allow the organization to work according to that (Inman, 2016).
In order to describe the important elements required to start up the Bella Clothing and Accessories Company, a business model template is the best way (Joyce and Paquin, 2016). Key elements of the business model template are given below:
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Key Partners Bella clothing is a new brand so it will require some time to build up the brand image and get associated with bigger brands. However, for now, Bella clothing is associated with some malls like, Bourke street mall, which is in Melbourne and Melbourne central. It is also associated with Pitt street mall which is in Sydney. |
Key Activities Key activities of Bella clothing are mainly concerned with the sale of clothes and accessories. They also run an online store on which most of the products are easily available. The online store also helps to earn the extra profit for the store. |
Value Proposition Bella clothing and accessories use an excellent pricing strategy along with extra discounts to provide the customers a great and an amazing experience. This helps in the growth of the business because if customers are satisfied then the brand will eventually get the desired growth. |
Customer Relationships Since Bella clothing and accessories is a new entrant, therefore, it is trying it’s best to provide the customers with the best services. Good pricing strategy and the quality of the product is one of the best features of Bella clothing. Along with that, they are also providing all the necessary services on their online store as well, like returns and exchange. |
Customer Segments – Bella clothing is providing the customers with every help they need. All kind of products is available for the women, whether traditional or modern. Bella clothing is also going to launch plus size and the maternity wear in their wardrobe in the upcoming months. |
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Key Resources The key resources of the business corporation are the customers, the products and the services |
Channels The business entity have a varied range of channels that are utilized for various purposes such as communication, products delivery, sales and many more. |
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Cost Structure The cost structure of the above-mentioned company is so reliable that every type of customer can rely on. Different categories are included so that the customers can buy the product according to their needs and the budget as well. All the products are mostly budget efficient and friendly as well. |
Revenue Streams Bella clothing is already trying their best to provide the customers with the prices possible, which can help the company to achieve its decided margin. Although there is no compromise made in the quality of the product and along with that the price of the products is actualized too. |
Business Description-
The business model is mainly based on producing and selling the women apparel and accessories as well. Bella clothing and accessories are based in NSW, Australia. The company design and manufacture clothes for both the traditional as well as modern women and accessories (Chambers and Humble, 2017).
The mission of Bella clothing is to supply the best quality of clothes and accessories to all the women out there at an affordable price. The company’s tagline is “Wear beautiful and feel beautiful.” This statement clarifies the aim of the Bella clothing and accessories (Toro-Jarrín, Ponce-Jaramillo and Güemes-Castorena, 2016).
The business objective of the company is to create such a clothing market, which serves each type of apparel needs of the women. To earn a good brand name and around 60% of the margin with a base of 2500 customers within the first year are few objectives (Sekaran and Bougie, 2016).
Target market- Target market of the company is mostly, the working women who require all these things on a daily basis. Another target of the company is those women who require traditional dresses at a very affordable rate. Rest are the women who require maternal or plus-sized outfits (Scarborough, 2016).
Budget- The company’s budget comes under a medium range of amount required for business startup. Therefore, the company is trying to provide the best quality of clothes at a reasonable rate (Sullivan, et. al, 2014).
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Budget planning for Bella Clothing and Accessories |
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Resource |
Amount ($) |
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Miscellaneous Expenses |
1,500.00 |
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Remuneration to brand promoters |
20,000.00 |
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Equipment |
15,000.00 |
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Labor (20 Staff*$1,000) |
15,000.00 |
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Office Staff (10 officials*$2500) |
37,500.00 |
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Total |
89,000.00 |
Conclusion
The above report included the feasibility analysis of the Bella clothing and accessories in the terms of legal, technical, operational, scheduling and economical. The feasibility analysis is made in order to evaluate whether the project is worth investing or not. A business model canvas is undertaken to describe the important elements required to start up the Bella Clothing and Accessories Company. A business plan considering description, mission and vision statement, business objective, marketing strategy, target market and budget is discussed for the project. Therefore, it can be concluded that the company is making efforts to provide the best quality of clothes at reasonable prices.
References
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Chambers, I., and Humble, J. (2017) Plan for the planet: a business plan for a sustainable world. Oxford: Routledge.
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Kibler, E., Kautonen, T., and Fink, M. (2014) Regional social legitimacy of entrepreneurship: Implications for entrepreneurial intention and start-up behaviour. Regional Studies, 48(6), pp. 995-1015.
Papulova, Z. (2014) The significance of vision and mission development for enterprises in Slovak Republic. Journal of Economics, Business and management, 2(1), pp. 12-16.
Rickard, J. W., Allee, G. L., Rincker, P. J., Gooding, J. P., Acheson, R., McKenna, D. R., and Carr, S. N. (2017) 206 Impact of ractopamine hydrochloride (Paylean®) on performance of heavy finishing pigs using a 3-cut marketing strategy. Journal of Animal Science, 95(2), pp. 98-98.
Scarborough, N. M. (2016) Essentials of entrepreneurship and small business management. London: Pearson.
Sekaran, U., and Bougie, R. (2016) Research methods for business: A skill building approach. New Jersey: John Wiley & Sons.
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Toro-Jarrín, M. A., Ponce-Jaramillo, I. E., and Güemes-Castorena, D. (2016) Methodology for the of building process integration of Business Model Canvas and Technological Roadmap. Technological Forecasting and Social Change, 110, pp. 213-225.
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