Uk Business Proposal

Business proposal, APA style(Aparna Mukherjee)
MEMORANDUM
To: John James, senior head, Human resources
From: Aparna Mukherjee, Intern, academic content writer
Subject: Proposal for setting up of new fashion store named “Pretty People”
Date: 26 July 2024
Nowadays, the fashion industry is growing fast-paced. According to a research report, it will increase
from $197.05 billion in 2028 at a compound annual rate of 8.5% (The Business Research Company,2022).
This is an excellent opportunity to capture the market by setting up a new fashion store in the United
Kingdom. This is a wonderful time to begin a new business of clothing and footwear.
The United Kingdom holds the title of the fifth-largest economy in the world. According to a research
report on the fashion industries of the UK, it has been said that the average household expenditure on
clothing and footwear is around 4% of their budget. Hence on average, they spend $25 per week, $109
per month, and $1,308 annually(Fashion United,2022).
Benefits of capturing this opportunity-
As per the above reports, it is clear that this niche provides a life-changing opportunity to set up a
business in the fashion niche. Since the demand for clothes, footwear, and eyewear is increasing day by
day, the entire UK market and the world market can be captured easily and earn handsomely. The
benefits of capturing this opportunity where the competition of the brands is less it can be said that the
fashion market can be penetrated easily. Moreover due to the advancement of technology clothing and
other fashionable products and be sold online. Hence capturing the online market of the entire world
will also be a good idea(Future of fashion strategic considerations for growth, n.d.).
Implementing the ideas-
A thorough business plan must be sketched before keeping a foot in the business world. The first and
foremost thing for any business is to have a great advertisement plan. The advertisement plan will help
to capture leads and customers. The business can collaborate with various influencers to make it more
attractive to people. Initially, the brand must provide attractive discounts or offers to the customers to
attract them in huge numbers. It is also a great idea to study the already established brands about how
they rose and captured the market like Zara, Gucchi, and many more(How to stand out in fashion
business model transformation,2023)
The most important thing that must be kept in mind while entering the fashion industry is that the brand
must keep its customer’s preferences on top. The customers must be treated very well in the sense that
the customer service must be well structured. This is because the customer must find an easy way to file
their problems and must get the solution in a less duration. The priority must be given to the customer’s
problems and solving their problems.
The recruitment of the staff for various departments must be made carefully and priority must be given
to talents rather than degrees. Moreover listing the brand online is an important matter as it attracts
huge customers all around the world. The idea that has to be kept in mind is to capture as many as
customers possible and offer them attractive products and offers. Moreover capturing customers
shouldn’t be the only goal but retaining them is more important in any business.
Obstacles: individual and financial-
The individual obstacles are of a nature such that motivation plays an important role. For starting a
business the obstacles are going to be part and parcel of the business. One has to be motivated enough
to keep sailing through those obstacles. Competitors are going to play an important role in setting up a
successful business. Brands like Zara, Gucchi, and many more are already ruling the fashion market for
years. So to match their pace one has to be consistent and motivated to establish a brand like them or
succeed them. Moreover, the brand has to avoid copycats of the designs that are to be
showcased(Vishaka Somani,2022).
To compete in this fashion industry one has to come in front of financial struggles and one must be smart
enough to handle those obstacles positively. In this fashion industry, it is important to be a going concern
as the new brand will reap its profits sooner or later. For financial obstacles, the brand must be
registered and can get various loans from various banks and organizations which will somewhat ease the
financial stress. Our company should always be ahead of our competitors. I want to thank you for your
time, and I look forward to discussing this proposal with you further.
References-
Fashion United. (2022, December). UK Fashion Industry Statistics. Fashion United.

https://fashionunited.uk/uk-fashion-industry-statistics
FUTURE OF FASHION STRATEGIC CONSIDERATIONS FOR GROWTH. (n.d.).

https://www.britishfashioncouncil.co.uk/uploads/files/1/BFC_Future_of_Fashion_v9_lo_res.pdf
How To Stand Out With Fashion Business Model Transformation. (2023, April 18).
Digitaltransformationskills.com. https://digitaltransformationskills.com/fashion-business-model-
transformation/
The Business Research Company. (2022, October). Fast Fashion Market Analysis, Size And Trends Global
Forecast To 2022-2030. Www.thebusinessresearchcompany.com.
https://www.thebusinessresearchcompany.com/report/fast-fashion-global-market-report
Somani, V. (2022, March 25). 5 common problems faced by the fashion industry (with solutions!). WFX.
https://www.worldfashionexchange.com/blog/5-common-problems-faced-by-the-fashion-industry-with-
solutions/

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Uk Business Proposal

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Business proposal, APA style(Aparna Mukherjee)

To: John James, senior head, Human resources

From: Aparna Mukherjee, Intern, academic content writer

Date: 26 July 2024

Benefits of capturing this opportunity-

Implementing the ideas-

Obstacles: individual and financial-

Fashion United. (2022, December). UK Fashion Industry Statistics. Fashion United.

FUTURE OF FASHION STRATEGIC CONSIDERATIONS FOR GROWTH. (n.d.).

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