Business Planning Of An Apparel Store †MyAssignmenthelp.com

Question: Discuss about the Business Planning Of An Apparel Store. Answer: Business Planning Brunei Kulture is an apparel store that is instrumental in creating and selling clothes. The primary motto of this company is to become the top retail store in the market. Successful operation and building up a strong customer base will allow the company to earn huge profits within a year or two. It is necessary to conduct market research before venturing into a business (Ferraro and Briody 2017). Learning more about the competitors and about the features of their products can help to a great extent in earning profit in the business. The skills that will be required and the number of employees that is required to start an apparel business are important factors that should be well-decided about before foraying into the world of business. The financial capital that is required to start the business should be properly decided after sitting with the marketing experts and industry specialists. Contacts should be established and the market should be researched thoroughly before emerging into the world of business (Rosenau and Wilson 2014). It should decide about the suppliers and franchises that is required for the growth of the business. Money management proved to be a hindrance as a large amount of capital was required for starting a new business. One needs to be heavily capitalized if one has to start a business. Good bond between the team members proved to be positive for us as co-ordination was extremely necessary for any business venture. The partners in our business understand the meaning of trust and values that proved to be positive factors for our business. Maintaining the records helped us in assessing the strength of the company and to highlight the loopholes. Execution of Business Brunei delicacies are being sold to the shops in the area of Muara. The opening of the business necessitated the sharing of ideas and there was hardly any conflict since the people emerging into the business were all new people who had no prior experience (Schaper et al., 2014). There was controversy regarding the fact where the food should be sold. Some of the members wanted to sell the food in and around the area of the Koperasi in the university or local shops should be set up. No unanimous decision created rift and tension among the various members of the Brunei group. Food safety and food hygiene are two important considerations that should be kept in mind while starting a business related to food. The local authority should be contacted who can help in registering the food business (Khojasteh and Raja 2017). The organisation of the waste and the recycling should be done in the right manner to make the business sustainable. Written records should be kept of the different suppliers who are providing the food. Proper record should be maintained in relation to the income and expenses so that the profitability of the company can be measured. Having proper time at the disposal is essential for opening a business. Building relationships along with connections proved to be of great help in spreading the influence of our business. There was positive attitude between the members of our business that helped our business to a great extent. References: Ferraro, G.P. and Briody, E.K., 2017.The cultural dimension of global business. Taylor Francis. Khojasteh, M. and Raja, S., 2017. Agents of Change: How Immigrant-Run Ethnic Food Retailers Improve Food Environments.Journal of Hunger Environmental Nutrition,12(3), pp.299-327. Rosenau, J.A. and Wilson, D.L., 2014.Apparel merchandising: The line starts here. AC Black. Schaper, M.T., Volery, T., Weber, P.C. and Gibson, B., 2014.Entrepreneurship and small business.