Refined Clothing - Business Plan

1. Executive Summary

- 1.1 Business Summary ____________ Pg.1

- 1.2 Business Aims ____________ Pg.1

- 1.3 Financial Summary ____________ Pg.2

- 1.4 Elevator Pitch ____________ Pg.2

2. Owners Backgrounds ____________ Pg.3&4

3. Branding

- 3.1 Our Manifesto ____________ Pg.5

- 3.2 Brand Values ____________ Pg.5

- 3.3 Brand Identity Prism ____________ Pg.6

- 3.2 Logo Development ____________ Pg.7

- 3.3 Name Development ____________ Pg.7

4. Our Products

- 4.1 Our Products ____________ Pg.8-10

- 4.2 Customer Service ____________ Pg.11

5. The Market

- 5.1 Customer Profile ____________ Pg.12

- 5.2 Customer Demographic ____________ Pg.13

6. Market Research

- 6.1 Desk Research ____________ Pg.14

- 6.2 Field Research ____________ Pg.14

7. Competitor Analysis

- 7.1 Table of Competitors ____________ Pg.15

- 7.2 SWOT Analysis ____________ Pg.16

- 7.3 Unique Selling Point ____________ Pg.17

- 7.4 Brand Positioning Map ____________ Pg.17 - 7.5 Refined SWOT ____________ Pg.18

8. Marketing Strategy

- 8.1 Marketing Research ____________ Pg.19 - 8.2 Social Media Strategy ____________ Pg.19-20 - 8.3 Marketing Table ____________ Pg.21 - 8.6 The Women’s Institute ____________ Pg.22 - 8.7 Website ____________ Pg.23 - 8.8 Consumer Journey ____________ Pg.24 9. Packaging - 9.1 Business Cards ____________ Pg.25 - 9.2 Packaging ____________ Pg.25 - 9.3 Swing Tags ____________ Pg.26 - 9.4 Branding & Size Labels ____________ Pg.26 - 9.5 Care Labels ____________ Pg.26

10. Operations and Logistics

- 10.1 Production ____________ Pg.27 - 10.2 Delivery to Customers & ____________ Pg.27 & Returns

- 10.3 Payment Methods and Terms __________ Pg.28

- 10.4 Premises ____________ Pg.28 - 10.5 Suppliers ____________ Pg.29

- 10.6 Equipment ____________ Pg.29

- 10.7 Transport ____________ Pg.30 - 10.8 Management and Staff ____________ Pg.30 - 10.9 Legal Requirements ____________ Pg.31 - 10.10 Insurance Requirements ____________ Pg.32

- 10.11 Funding Chart ____________ Pg.33

11. Costing and Pricing Strategy

- 11.1 Costing ____________ Pg.34 - 11.2 Pricing Strategy ____________ Pg.34

12. Financial Forecast

- 12.1 Sales & Costs Forecast ____________ Pg.35 - 12.2 Personal Survival Budget ____________ Pg.36 - 12.3 Cashflow Forecast ____________ Pg.37 - 12.4 Costs Table ____________ Pg.38

13. Back-up Plan

- 13.1 5 Year Plan ____________ Pg.39

- 13.2 Plan B ____________ Pg.40

14. Appendices ____________ Pg.41-57

15. References ____________ Pg.58-68 - 15.1 Picture References ____________ Pg.69-72

16. Bibliography ____________ Pg.73&79

1.1 - B U S I N E S S S U M M A R Y

Refined is a women owned, and operated clothing company based in Manchester. Founded by five Fashion Students, across Design and Promotion, Refined has been created to fill the gap in the market for stylish, easy-wear clothing for Women over 65. Using emerging textiles alongside carefully considered design, our products bridge the gap between adaptive clothing and timeless, stylish fashion.

Refined’s name and branding reflects the classic and timeless aesthetic that will be carried out throughout the collections, that include staple wardrobe pieces that are high quality and are made to last. With no direct competitors, Refined has a large opportunity to tap into the gap in the market as more Boomers are investing in their wellbeing (Poile,2021) and are buying fewer, but longer lasting items of clothing (Poile,2021). Not to mention that by 2040, the over 65 market is projected to be at 1.3billion (Barclays,2019).

Marketing is a large and important aspect of Refined’s target market, as 44% of British women over 50 found advertising targeted at them patronising (Poile,2021) therefore, Refined will ensure that all marketing is welcoming and enticing to our target market. By hosting events through the Women’s Institute, Refined is creating a face-to-face shopping experience which gives consumers the opportunity to try before they buy, but to also to assist them with using the website and, to make it easier for them to use it on their own. Without having a singular store and using events to travel around, means that there would be less overheads for the business and that Refined would be increasing their customer base by traveling to them rather than expecting them to travel to the store.

After capital investment is contributed by all partners of Refined, the business will communicate with the factories to create samples and start production, with the aim to Launch the first collection and start attending events in April 2023.

Executive Summary.

REFINED

Business Aims

S h o r

At end ng mul p e events nat onal y every mon h hrough he Women s nst u e and U3A Bui d up a ecu e and cons s en cu tomer base hrough both even s and wo d o mouth

-

Alongside Refined’s partners each providing £2,000 and being gifted a total of £13,000 from family, the business would also benefit from an additional £5,000 from the Prince’s Trust to fund the production of the products and everyday costs such as sustaining an office and storage space.

As it is shown in the cashflow forecast (see section 12.3) Refined is projected to make a profit in April 2023, in the 4th month post-launch, therefore Refined has been set to be a profitable business from quite early on. This means that within the first year, Refined can expand the team and increase marketing budgets to increase the market reach.

Have a rave ing s ore to n rease our event appearances and o er a mo e pe sona and d s reet hopping expe ence

Crea e a w de produc range u ing mo e advanced ext es and ma e al that wou d benef the onsume s need wh s con inuing to be high qua i y and uxu ous

To col abora e w th some nf uen al ce ebr es and reate a wide p oduc range hat w appea to a wide aud ence

To nc ease ou ma ket ng budget o ta t o appea o a w de ma ket who wou d al o bene i f om our p oduct

1.4 - E L E V A T O R P I T C H

Refined is an easy wear clothing company for women 65 and over who desire clothing that is easy to wear without compromising on style. With aspirations to use emerging textiles to elevate designs, the clothing Refined will produce bridges the gap between modern, minimalist style and adaptive clothing whilst keeping the needs of the target market in mind – for example, a physical ailment such as arthritis.

1.2 - B U S I N E S S A I M S

1.3

F I N A N C I A L S U M M A R Y

Owners Background.

MEET THE PARTNERS

CATHERINE. SOPHIE.

MANAGING DIRECTOR OPERATIONS AND FINANCE DIRECTOR

As a Fashion Design and Technology student, Catherine has first-hand experience with creating and keep to Critical Paths and collaborating with others, both of which are key to her role as Managing Director. During her year as a Studio Assistant at women’s office and occasion wear brand, The Fold, she has experience in most areas of the business, including Design, Garment Technology, Production and Buying, as well as shipping and sampling costs.

Sophie is a Fashion Design and Technology student, which gives her a solid understanding of the processes and pricing involved in creating quality products, which is important for her role as Operations and Finance Director.

Her year as a Product Developer at global workwear company, Portwest, gained her experience with liaising with factories, performing quality checks on garments and negotiating pricing and freight arrangements with overseas suppliers.

GRACE. LAUREN. GEMMA.

DESIGN DIRECTOR

Being a Fashion Design and Technology: Womenswear Student, Grace is naturally creative and is experienced in designing with a customer in mind, creating inspiration boards and developing CAD’s for production. Combined With working as a Sales Assistant at Zadig & Voltaire, she has developed a keen eye for detail and fabrication within luxury design, which are key for her role as Design Director.

CREATIVE DIRECTOR

Lauren is a Fashion Design and Technology student, giving her a strong natural creative instinct and experience creating clear visuals at all stages of the design process. After interning with the Design Team at MP Activewear and working as a Stylist for Allsaints, she has significantly built her knowledge of creative processes and visual presentation within the fashion industry.

MARKETING DIRECTOR

As a Fashion Promotion student, Gemma has an in-depth understanding of a variety of fashion branding and marketing tools, as well as skills in trend forecasting, trend analysis and visual

presentation. Various part-time jobs in retail means that Gemma has first-hand experience creating visual displays retaining product knowledge and communicate with customers which are key skills for her role as Marketing Director and our marketing strategy.

3.1 - M A N I F E S T O

Branding.

3.2 - B R A N D V A L U E S

REFINED Brand Values

3.3 - B R A N D I D E N T I T Y P R I S M .

Using Kapferer’s Brand-Identity Prism model.

F u n c t i o n a l V a l u e E m o t i o n a l V a l u e E c o n o m i c a l V a l u e

Re ned re o f r ng a so u on o he 5+ w menswea ma ke o me s s y h c o h ng co c ons c n s ng o mu p e as w a p ec s ha a e so u ta e o wom n to we r w h med c cond ons uch a a hr s In o med d s gn ho ce ha e be n made wi h n he o ec on om es a ch o an nonymous n e v ew w h an r h t su e e s e app n ce 39

The e wi be o d hrough mu t p e channe su h a a webs e l t o m oc a m d a n p r on ev nt and e ev on ea u e

The onsume w ee p r o a commun y hrou h a end ng he b and n-p r on e en s h ough he Women n tu e nd U3A From th pr m r r se r h c n uc ed Re ned ound ha onsume wou d re pond po t e y o a br n th t ca e s nd a know e ges th ma ke d in th hrou h pr duc ng we -made qua y o h n co e i n w h ea e o wea n m nd hro ghout Re ned w be o e ng h gh ua t and ons de ed c o h ng t a p em um h gh-s r e p ce po n Due o he h gh qu t th w e u t in ongev y o arm nt o c n ume w l n es mo e to ur has es

S y m b o l i c V a l u e Re ned re de-r k ng he onsume pur has n ourn y by of r ng n per on e en s o phy c l s e and y on he g rm n hat th y w e buy ng th ough he webs e Th g v s he onsum r o a onf d nce pu cha ng and chang ng t ude owa d ea y wea c o h ng

Logo and font development was created on photoshop using different variations of the brands colour palette. These infographics were then taken and surveyed to find the most effective branding that communicates Refined’s values to the consumers.

From this survey (fSee appendicies 41) the brand found the most effective colour palette, font and logo for consumer, all feedback was then applied accordingly to the overall logos, name and colour palette and was implemented throughout the brand.

From the logo development, Refined trialled multiple different variations of – Refine. However, from this development the brand decided to drop the accent on what otherwise would have been the final logo, as the accent would not be able to be applied to the brands choice of media.

Initially the brand surveyed multiple names as shown in the survey above. From this the brand went with the most popular name of Refined. This survey was done as further research into choosing the correct and what the consumer was positively respond to.

In their debut collection, Refined will offer 6 pieces including knitwear, trousers, jacket and, shirt that have been specially designed with ease of wear in mind. At the forefront of the collection’s designs are the brands core values of independence, empowerment, and quality.

Underlayer Top

- To be worn underneath clothing as well as paired alone

- Super soft, close fitting stretch fabric

- Locks in warmth for joints

The underlayer top is made from a fine gauge lenzing micro modal (Discovery Knitting, No Date) that is a super soft, premium woven, with a second skin feeling when being worn, either alone or paired with any of Refined’s collection for added warmth and comfort. To care for this garment, wash gently at 30° and dry flat in order preserve the longevity of the underlayer.

Cost - £22.00

RRP - £60.00 including VAT

Underlayer Leggings

- Super soft, close fitting stretch fabric

- Locks in warmth for joints

The underlayer leggings are made from fine gauge lenzing micro modal (Discovery Knitting, No Date) this is a premium woven the characteristics of this being a super soft, second skin feel when being worn alone or paired with Refined’s collection for added comfort and warmth to the consumers outfit. To care for this underlayer wash at 30° and dry flat to ensure longevity of the garment.

Cost - £22.00

RRP - £60.00 including VAT

- Large square buttons for ease of closure

- 3 functional buttons

- Dropped arm holes

- Elasticated cuffs for ease of wear

- Pearl trim – collar and cuffs

The shirt is made from a cotton, silk mix that is kind on the skin and luxurious. Due to the fabrics composition this garment must be dry cleaned only avoiding harsh solvents (Sherwoods fabrics, No Date) to make sure the garment has longevity. This shirt can be paired with our knitted sweater and underlayers for a more casual look or can be worn alone for a formal take on this garment, paired with the underlayers wide leg trousers.

Cost - £35.00

RRP - £75 including VAT

Wide Leg Trousers

- Wide elasticated waist

- Large pockets with large watch pocket

- Wide leg

- High waisted

Refined’s wide leg trousers have been designed to be pulled on with ease due to the breathable and soft Lyocell fabric they’re made from. Designed to be compatible with the brands underlayer leggings

These trousers can be washed by machine at 30° to ensure longevity for the consumer (Lebenskleidung, No Date). These trousers are extremely versatile and can worn formally and casually, designed to be a great pairing piece with any of the Refined’s collection.

Cost - £35.00

RRP - £105.00 including VAT

Knitted sweater

- Dropped arm hole for ease of wear

- Wider neck for ease when dressing

- Wider sleeves for ease of wear

The knitted sweater made in a UK fully factored factory from a Merino blend yarn. This premium knit is soft, warm and perfect for layering in any Refined’s consumer’s wardrobe. To care for this garment handwash and dry flat to maintain the shape and make it last a lifetime.

Cost – £55.00

RRP - £125.00 including VAT

Shacket

- 3 functional buttons

- Dropped arm holes

- Large square buttons for ease of closure

- Side closure for ease of wear

- Built in scarf

The garment is made from a Wool and Viscose Blended Boiled Wool which ensures it is warm, durable and has stretch for ease of wear for the consumer. Due to the fabric composition and elements on the Shacket, it must be dry cleaned only (Higgs and Higgs, No Date). This shacket can be worn on its own or layered for further warmth, pair this piece with our trousers for an effortless and chic look.

Cost - £71.00

RRP - £150.00 including VAT

4.2 - CUSTOMER SERVICE

Refined will pride itself on an excellent level of Customer Service. Either face to face at a Women’s Institute events or via social media channels or phone calls, the customer’s enjoyment and experience will always be put first. Through research, Refined found that with their target market, “compassion and education is critical when bringing Boomers online” (WGSN, No Date:online) which solidifies why having a high-quality customer service alongside an easy-to-use website is imperative for the success of the business.

Doing this not only continues to emphasise the care that is put into the clothing and the company, but it will also help to avoid a large quantity of returns, which will affect the company’s profitability.

This is also one of the ways that Refined will attempt to be a sustainable company –as this will avoid adding to any stock that is unsold.

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5.1

C U S T O M E R P R O F I L E

Demographic Geographic Behavioural Psychographic

Gender – Female

Baby Boomers 1946 -1945

United Kingdom

Live in rural towns and village (Acorn, n.d.)

Social mediaBaby boomers are active on social media to connect with friends and shop

They pride themselves on decision-making skills

Aged 65 +

Race – All

Lifestyle – More active and youth full than their parents at this age

Exuberant spirits Retired from work from high paid job, owning their own business

Social class: Middle Class

Wealthiest generation (Green Buzz Agency, 2020)

They enjoy looking for free recipes, healthy living and looking for discount codes and like to find maximum value from their purchases (Bendoni, 2017)

like shopping in catalogue and local shops

Brand loyalty

Optimistic and realistic which make them Hard working like to have things done to a high standard (Indeed, 2022)

These consumers like to feel independent They appreciate high quality products Enjoy gardening, walking, photography

Regular holidays (Acorn, No Date)

6.1 - D E S K R E S E A R C H

It’s expected that ‘‘By 2040, 1.3 Bn people are projected to be over 65, double the level in 2015, and by 2050 the over 60s will account for one in five people globally” (Barclays,2019:Online) this shows that our target consumer will continue to grow increasing sales over the years.

With the fashion market ever changing, becoming more digital since the pandemic, boomers have found themselves shifting towards a more digital lifestyle and will remain so going forward.

Post pandemic we have seen a shift in how consumers dress with boomers becoming more body confident and leaning toward a more laid-back timeless style embracing their femininity and our willing to spend more on good quality pieces than purchase multiple pieces (WGSN, No Date) ,referring to (The WI, 2019: leaflet) “66% are ABC1 and that means that they have the social and financial status to spend on luxury products.” Our clothing line will be classed as a premium brand, as the quality will be higher than high street brands and our consumer is willing to spend more on long lasting pieces.

Refined have found from desk research that there is a gap in the market for a clothing line aimed at women over 65, with boomers being the highest spenders and willing to spend more on pieces, despite this boomers often feel as though brands haven’t considered them when marketing or when marketed to they are often stereotyped ‘‘Despite mature women being one of the biggest consumer groups in the UK spending billions each season on new pieces, 61 % of them felt as though the fashion industry had let them down or just stereotyped the older market as ‘grey haired and wrinkly and not well represented in advertising” (Smithers.R, No Date:online).

From conducting a survey aimed at women 65+ researching into their shopping habits. With over one-hundred responses, the survey built primary research as well as identifying new competitors, such as Klass.

Refined also gained first-hand knowledge regarding how many of the participants suffered with arthritis and the area that was most affected for them which then influences the clothing designs. A concern was that the market would be hesitant to spend more on products designed around their needs, however 67.4 % of participants said they would pay more for garments that are specifically designed with ease of functionality and longevity in mind.

The survey helped Refined to understand the colours and patterns that the market feels is lacking in the current offering – Results showed that blues and neutrals where the most popular colours and that checks were the most popular pattern.

For more specific in-depth research, Refined will hold a focus group to ensure that the marketing strategy would appeal to the market and gain critiques on the clothing that will be designed. Refined also plan to utilise some direct contact who will test the product before the company goes forward with production. Similar to the anonymous interview that was conducted with an arthritis sufferer (see appendices 39).

6.2 - F I E L D R E S E A R C H

T mm H ge - Ad p ve

H u Ad e p e M n Wom n n h d n O c w h V o p n n w e n k n d o e z p p

Competitor Analysis.

31 3 3

The Ab L be A p v n m n n w me O a a n h s w V n n e g b £ 0 -£ 3

u e & w a e P u y n

G o g O u G o e w o h g

H h o n S a n g b d ma

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Mo o we m d a – n g m & F e o 1 m n A g o g em n e e a d e e e e n p e c G g H d d - C n B n Am s o C h p o u h u m n C n

Mo o we m d a – n g m 1 A u w n g m n am n ma o a o k a d o e w n h h w e u me w h n c a Wo w h d e e h y o g m h om h b e 0

7.2 - SWOT A N A L Y S I S

Refined has conducted thorough research of eight indirect competitors, and through this, have indicated their Strengths, Weaknesses, Opportunities and Threats. The two companies that Refined felt were their strongest competitors were Klass, for their target market, and Tommy Hilfiger Adaptive, for their premium market level.

To view the rest of the SWOT tables, please see Appendices 42

ohn ew s

H n p me g Me Wom n n h d n e h o e a - o A s s h me a

£ 71 6 4

E e n –o o u v O n a d nw n n

R s o n h q h n om w e n o - o n e £ 3 -£ 7

F w me m o e d Sm s n o c n c a w h h e p c p n

M w c a m d a – F b k m n A v o d n g m n o u mp n a d m n V d w h c T p p k u d £ o h w C m v n o h m e o e n w h w h u c h h o y n a d v o w - n w n h a Mo e P g mp n w h b d a e o h p g d a Ma k a d Sp n e s

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M w c a m d a – F b k 1 4 A v o d n g m n e o u me k o h p e e e d me - D d B h m e em n p o e L d n P mp c G m s

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T A B L E O F C O M P E T I T O R S

Company Nam Produ t de cr p ion Pr ce Low - H gh S rength Weakne se Marke ing Summa y

7.5 - R E F I N E D SWOT

Upon completing thorough competitor research, the partners devised a SWOT analysis for Refined to highlight any potential threats and weaknesses that could be managed or avoided in future.

P O I N T

Refined offers a product and service to women who feel their age group is forgotten by the high-street. (Smithers, 2014) A community of empowered women who want to feel confident in what they wear.

By bridging the gap between adaptivewear and easy-wear, and providing a service travelling to our consumers, making the shopping experience easier - Refined have no direct competitors.

Redefining easy-wear, embracing independence, empowerment and quality

Marketing Strategy.

8.2 -

8.1 - M A R K E T I NG

R E S E A R C H

From research, it was clear that social media marketing is the best way to promote and create brand awareness for Refined. Data shows that baby boomers are 58% likely to shop brands links from social media post (Rodela.J,2022). Through their social media accounts, Refined will be offering exclusive discounts for those who follow us, as research from sprout social states that baby boomer uses social media to find discounts and promotions (Sproutsocial,2022)

As well as social media marketing, Refined will also be using traditional, offline marketing techniques such as including direct sales and tv marketing. ‘‘Study by crowd springs show that 34 % of customers our more likely to make a purchase at a tradeshow/event than other marketing options” (Kimbarovsky.R, No Date:Online)

Tv marketing has also been found to be one of the successful marketing methods for baby boomers, as they enjoy simple straight forward marking with information on the product they are buying, Baby boomers grew up with the rise of television and enjoy simple advertisements. (Morley.L,No Date)

Instagram

From the Social Media survey (See appendicies 27)

, Instagram was popular with consumers to shop and look at their favourite brands products. Data shows consumers aged 35-65 + are most active of Instagram making it a great platform to promote Refined and engage with customers. Results from the Social Media Survey shows people spend over an hour a day using the platform.

Annual Cost: £0

Pre-

Launch

Facebook Instagram

2 Weeks before Launch date

- Create Facebook page and begin to launch product information with product sneak peaks

- Links to sign up to the website when you sign up get exclusive sign-up offer

- Exclusive details about events coming near customers soon

2 Weeks before Launch date

- Create Instagram page and begin to launch product information with product sneak peaks via post and story post and reels of close of products

- Links to sign up to the website when you sign up get exclusive signup offer – on story’s

- Link in bio to website

- Exclusive details about events coming near customers soon – post on feed and story – story’s saved to highlights

April 2023

- Posting content of products

- Links to website

- Facebook is best for getting website clicks or views/ engagement (marinsoftware,2022)

Launch

Facebook

Facebook is the biggest social media platform for marketing with 58% of users being women (Statista,2022) From our survey results we found that Facebook is the biggest social media platform for our customer base with 67.7 % using this main source to shop online

Annual Cost: £3,650

- Paid advertisement to reach new customers active messenger for customer service and FAQ – This one will a key feature in creating good customer service and brand transparency with 64 % of customers saying this would make them more likely to shop at a business (sproutsocial,2022)

- We will be posting 5 times a week on Facebook between the time of 8am-9am and 1pm-3pm from research we found this is the best time to post to get better engagement as people take time on their lunch break (optimseo,2022)

- Ongoing content on product and website links

- Paid advertisements carrying on

- Information on new launches, as well as the core collection

PostLaunch

- Sharing post on upcoming events, with sign up link to find out when Refined is coming near to you

- After events sharing post of Behind-the-scenes pictures to gain excitement

April 2023

- Posting content of products with clear descriptions and sharing the benefits of buying our clothing as this is something our consumer looks for when looking at item online.

- Links to website in bio

- Reels showing how to style pieces

- How to wear – showing how easy it is

- Product information via story and highlights as well feed post

- Post sharing information about upcoming events and links to where to find events

- Shoppable links of post

- Posting every day on Instagram on stories and main feed every other day – posting mid-day/week as study shows that’s whenconsumers take a break from their day to scroll (Cooper.P ,2022)

-Ongoing content on product and website links

-Information on new launches, as well as the core collection

-Sharing post on upcoming events, with sign up link to find out when refined is coming near to you

-Behind the scenes pictures and short videos to gain excitement - on story highlights and feed

-Posting customers wearing out products to gain customer relationship

S O C I A L M E D I A S T R A T E G Y

Television Marketing

Another main marketing st ategy for Refined w l be having thei products eatured on Televis on. A study by S at s a shows tha “baby boomers watch l ve v for over three hours or more a day compared to the younger generation” (statista,2022 onl ne

Th s Morn ng gets around one m l ion v ews a day and 35 % of the be ng baby boomers YouGov,N.d making t a good marketing pla form for Ref ned s c oth ng as they have a fash on segment with everyday women as mode s and often cover rea i e stories. Re ined’s consumer looks or a company that they can trust so having it show that they rust da ly gives Ref ned some c edabi ity.

As we l as This Morning, Ref ned wi l a so be ng send ng their cloth ng to QVC Shopp ng Channe ; W th ts core consume being the same as Re ined’s and that they have 30 years experience in se ling products with customer service through interacting with customers w l help boost sales as he show is aired 24 hours a day. Be ng on QVC w l a low Refined to be showcased to a new customer base as they wi l be ab e to send in ques ionswh lst they shop and talk to us about the brand. Engag ng wi h customers s one of Refined’s core va ues. I ’s been proven that se l ng on QVC s a successfu formula for new business to ach eve success (Monoso f T 2006)

Both of these opportun ties gives the v ewer a chance to see the clothes move on a model f nd out nforma ion about the abr c and how to sty e and therefore making an informed purchase wh ch s some hing that the consumer looks for lots o info mation before mak ng a purchase bigcommerce 2019)

Photoshoot

Before aunch ng, Re ined wi l conduct a pho oshoot to shoot e-commerce mages of the products, as we l as some f a mages to display the c othing we l These w l be shot n a studio with wh te back drop and o der models

Influencer Marketing

As Refined onl ne commun ty g ows, the Marketing Director wi l star reach ng out to o der micronfluencers, who have large boomer fo lowing and they trust the op nion off which is important to boomers (Pixlee TurnTo n,d Re ined wi l send clothing pieces to nf uencers for them to share how they sty e the piece with honest rev ews for urther feedback to mprove the brands uture col ect ons. The cost of th s wi l be decided amongst the directors when the t me comes

8.4 - T H E W O M E N ‘ S I N S T I T U T E

Annual Cost - £26,400

The Women’s Institute also known as The WI, the WI has over 212,000 members in the UK with 26% aged over 71 and 43% aged between 61 and 70. (The WI, No Date) Refined’s customer lives in rural areas and often members of the WI do as well, as there are over 6,000 clubs. The institute gives women opportunity to meet new friends and discuss topics that our important to them giving them a voice to be heard and make change for women.

The Women’s Institute hold monthly meetings which are staple meetings for the business - as a new brand it will be key marketing to present the brand at these meeting to gain new customers and talk about the brand, to offer styling advice and convince them why they should be wearing our clothing compared to others on the market, selling the key feature such as Easy-Wear.

Refined will be bringing the 6 initial launch pieces in all sizes for members to try on before making an online purchase. Styling advice would be offered to those purchasing aalongside demonstrations on how easy the clothing is to wear.

In addition to the WI Monthly meetings, Refined clothing will be also featured in the WI magazine; Refined will have a quarter page spread which will cost £2,400 per feature. This gives those who could not attend the meeting an opportunity to view the products and give the company an opportunity to reach over 190,000 members, providing further sales for Refined. (The WI, No Date)

Collaborating with events and vendors insures maximum social media promotion to drive turnout for the event (Shea, No Date). As The WI has guest speakers and even celebrities at their meetings, it gives Refined the opportunity to ask about future collaborations.

8.5 - W E B S I T E

Refined will outsource the website development with Digital Starter Pack, as none of the team have the right skill set to create the website. The website should be of a high standard and easy to access and navigate.

The website will be the sole option to buy Refined’s products therefore, the website must be easy to use and have the target market in mind through the design process. Examples would be having a clear font, headings that are easy to read and prompts to guide the user to the checkout section.

As the 65 plus market are the biggest online shoppers since Covid 19, spending 49 % more than other years, it is important that the website is easy to use for this demographic (Dailey.N,2021)

CONSUMER JOURNEY

At all pop-up events, each buying customer will receive a business card which will reiterate their order number and ways to contact Refined. The business cards will also be sent out in every order.

Packaging.

9.3 - S W I N G T A G S 9.4 - B R A N D I N G L A B E L S 9.5 -

‘Personalisation of packaging can enhance the experience a customer receives, making them feel unique and connected to the product.’ (Lewis,No Date:online) Whilst Refined want to keep their packaging personalised, we want to do it with as little waste as possible. Opting to personalised stickers and plain recycled cardboard postage boxes, keeping Refined’s packaging personalised and eco-friendly.

Refined’s swing tag design have been kept clean and simple. To reduce waste, Refined have opted for size stickers. All swing tags will have Refined’s logo, tagline, and website handle printed on and a space for the size stickers.

9.2 - P A C K A G I N G

Operations and Logistics.

10.1 - P R O D U C T I O N

10.2 - D E L I V E R Y T O C U S T O M E R S & RETURNS

Refined will outsource a UK garment manufacturer to complete production as research shows UK manufacturing can be cheaper than overseas (see appendices 4). Using Cut, Make, Trim (CMT) production would mean Refined providing the factory with; designs, technical specification, full patterns, first toile, fabrics, and trims, as Refined consists of four Fashion Design and Technology students who are able to provide everything listed (see appendices 5). As a start-up business, order quantities will need to be low for cost efficiency which the UK can provide. Although UK manufacturing is more expensive, Refined have made this decision to eliminate freight costs with not being able to provide a Full Container Load, (DFS, 2022) plus delivery from the London port to Refined’s storage space (see appendices 13 & 14).

Delivery charges will apply to all customer orders using Royal Mail as research shows that they are ‘cheaper for parcels under 1kg on seven occasions’ (Goodson, 2022). Starting out, Refined wouldn’t be sending over 20 parcels a week meaning they are not able to obtain a business account (Royal Mail, No Date, a). There will be two delivery options for customers: 3-5 business days delivery costing £2.85, or next business day delivery costing £3.95 (Royal Mail, No Date, b). For returns, Refined believe that their returns rate will be low due to having easy fit garments with less critical measure points, alongside charging for returns which will deter customers to return.

10.3 - P A Y M E N T M E T H O D S & T E R M S

PayPal will be an online payment option alongside the standard debit and credit cards, as Refined’s target customer payment habits show ‘Users over 50 years of age are the fastestgrowing demographic of PayPal customers’ (Dautovic, 2022: online). Alongside speaking with target customers who confirmed they would feel safer to pay with PayPal than other brands as it is well trusted. PayPal monthly costs are displayed in cashflow forecasting (see appendices 37) charging 2.9% transaction fee plus a £0.30 fixed rate alongside a £20 monthly fee for a virtual terminal.

Refined won’t have a brick-and-mortar store, the partners will travel across the UK, attending WI events; this means that there would be no cost for renting out buildings or buying a premises for sales, which is the most cost-effective option after business premises research (see appendices 14). Located in Stockport Reddish, Safestore offer office space alongside storage rooms for stock - after speaking with Safestore, they recommended 50sqft storage space and a 250sqft office space. The office space includes, all utilities (including Wi-Fi, kitchen areas, toilet facilities and onsite parking (see appendices 12) With the office space Safestore offer to accept deliveries and load deliveries into Refined’s storage space if no member is present at the time which is very beneficial to the business (see appendices 13). Refined have based their office in Stockport as all staff are living in the Manchester area but also because it is very central to the UK making travel much easier.

10.4 - P R E M I S E S

10.5

10.6 -

- S U P P L I E R S

Refined chose Fashion Enter as their garment supplier from manufacturer research (see appendices 21). Although they are based down in London, Refined’s partners are willing to travel to attend fittings from the renowned service. Payment for production will be paid in two halves, paying the first half upfront to secure the order, then the second half when production is complete. This offers security for Refined so that production standards are met before the full total is paid. Refined will pay for all fabric and trims costs upfront as order quantities are not big enough for wholesale at the start; they will be ordered online and delivered to the factory (see appendices 36)

The table shows a costing list of all the equipment needed to attend Refined Clothing events. Alongside one size of each piece of stock which to begin with Refined will have six different styles in five different sizes ranging from Size 8 to Size 16. See appendices 38 for office equipment.

10.7T R A N S P O R T

Refined partners live in Manchester making it easy to commute to the office via car or public transport (see appendices 14).

Transport to events will be a key part to Refined’s business as they plan to travel across the UK using the Design Director’s Fathers van. Refined will only need to use the van two days of the month to begin with as events will be every other week. The partners will also need to travel down to their manufacturers in London for fittings. With the rise and fall in fuel prices, it is hard to predict an annual consumption so Refined will keep all receipts making a record of fuel consumption costs.

10.8 - M A N A G E M E N T & S T A F F

Running the business independently, Refined’s partners will all take part in the business upkeep. Each partner has initially invested £2,000 each to create on owners’ capital of £10,000.

Refined partners have concluded that they will not be paid within the first year as there will not be enough profits at this point. In the second year Refined predict their profits will increase enough to be able to hire new members, the business will determine if there is enough profit to pay each partner.

Twice a month, three partners will attend Women’s Institute (WI) events and this will rotate each event. Their roles will include setting up event equipment, business introduction to all WI members, personal styling advice, assistance in online ordering and packing event equipment away. WI events last approximately 2 hours, setting up and packing away will take 1 hour however, the commute to the event will vary depending on location. Basing travel time on the first event at Wilberfoss, WI travel time from Manchester will take 1 hour 30 minutes (see appendices 18)

Refined’s total annual costs of legal requirements for their first year of trading will cost £1,325 (plus VAT if necessary), in their second year this will go down to £1,115 (plus VAT if necessary) as the business registration and trademarking is a one-off payment. Refined will receive legal advice from their accountant which is included in the price shown in table no.

This table shows all the insurance which Refined will purchase to ensure their business, employees, and customers are protected. Hiscox has been the chosen company for Refined to purchase their insurance with as they provide very flexible covers, additional business support, and are an award-winning company (Hiscox, No Date, a). The partners wanted to invest in a well-established company who they know are trustworthy.

The table shows how Refined will acquire all their funding pre-business set up. This will not be continued in future years unless necessary.

When the business is looking to expand, the partners will apply for funding from Women in Innovation as Refined is a women owned business who believe their product is innovative and new to the market however, this can only be applied for once the business have been running for over 12 months (Innovate UK, No Date).

Costing and Pricing Strategy.

The table shows the target costing for Refined’s most complex and expensive garment the shacket. Using a reverse pricing strategy totalling all known costs, deducting this from the price per unit gave a target manufacturers cost. Research shows that the two main competitors The Able Label and Tommy Adapitive’s average jacket price would be £93.67 which is a mid to high range pricing (see appendix 40).

Refined’s personal survival budget shows that they have more income than outgoings therefore, none of the partners are costing the company.

Refined will breakeven and start profiting in April when they launch, April was chosen to allow time for the partners to have all the necessary marketing and production to be completed. The start-up costs in money out are less than in start-up costs table (12.4) as 304 garments have already been costed for in the sales forecasts which is shown on ‘Income from Sales’ money in section therefore, the production for 304 units have been deducted from the original star-up costs (36,720.02 – 18,240 = £18,480.02).

Back Up Plan.

13.1 - 5 - Y E A R P L A N

A five-year business plan gives an overview of what a business does, what it intends to do and how it plans to do it.

(Sullivan, 2022)

Refined’s 5 Year Plan details the growth of the business, including customer base, financial goals, and product goals.

Year One Year Two Year Three Year Four Year Five

Maintain a large customer base across the UK Sel at least 70% of stock Have created two seasonal collect ons

Become a regular guest at WI and U3A Events

Hire a dedicated customer service team Buy a van to start to convert into a trave ling store to become more accessible to customers Order larger quantities of popu ar sty es Start to use emerging texti es

Explore Marketing Overseas

Ma ntain a secure customer base Approach inf uencers to co laborate w th Be featured in magaz nes Move product on overseas Apply for government backed grants including Women in Innovation

Be confident in using emerging textiles and create styles based on best se lers

Continue to market us ng QVC

Increase staff in HQStylists to present at multiple events

Increase Marketing team and outreach to nc ude different markets

Continue to turn a arge profit Invest in more emerging textiles to create ‘smarter’ and more effective products Increase Market ng Budget

Increase staff in HQAssistants and Production Specialists

13.2 - P L A N B

If manufacturing their own garments doesn’t create enough profit to sustain the business, Refined would become a styling service. Whilst continuing to utilise events held by the WI and U3A, Refined would outsource clothing that they believe is easy-wear or has excellent design elements that would aid someone who struggles with Arthritis or other physical ailments and recommend them to customers. A demonstration of the Styling Service would be shown during the events, but a full Styling Service would involve an extra cost. With five stylists in the business, Refined would be able to make more profit as a service than with products whilst still utilising the office space and events equipment bought beforehand.

Ultimately, if both Plan A and Plan B fails, Refined would file for bankruptcy and announce liquidation.

4

3 (Make it British, 2021) 5 (Jess, 2022)

8

7

Task

Marketing: Website Development Working with Right Angle Websites

Plan Photoshoot

Scout Photoshoot Location

Contact Models

Plan Social Marketing Strategy

Get in contact with QVC, This Morning and Loose Women Shoot Samples

Send photos to website developer Increase Social Media Presence Website Launch

Maintain Socials WI and U3A monthly Meetings

Promote Product on QVC, This Morning and Loose Women Plan Photoshoot for new Collection

Scout Photoshoot Location Contact Models Plan Social Marketing Strategy

Get in contact with QVC, This Morning and Loose Women Shoot Samples

Send photos to website developer Increase Social Media Presence

Promote new product on QVC, This Morning and Loose Women

Product:

Create Tech Packs for all 6 designs

Communicate with factories for Samples

Sample Development

Production Sample Approved Production Lead Time

Production QC Approved Shipping lead time

Production Recieved into storage unit Website Launch Fabric Research for next collection Designs for next collection

Create Tech Packs for all designs

Communicate with factories for Samples Sample Development

Production Sample Approved

Production Lead Time

Production QC Approved

Shipping lead time

Production Recieved into storage unit Second Collection Launch Fabric Research for next collection Designs for next collection

Create Tech Packs for all designs

Communicate with factories for Samples Sample Development

Production Sample Approved Production Lead Time

Interview:

After speaking with a target consumer who suffers from rheumatoid arthritis Refined found out the following:

- Arthritis attacks all joints; it is beneficial to have tight underlayers supplying warmth

- Baggy clothes are easier to get on over underlayers

- Long sleeved tops with thumbholes are beneficial to wrist joints

- Garments that wrap, have elastic, Velcro or magnets are easiest to use

- Fake fastenings are good as still make the garment look nice

- Dressing stick in a changing room would be helpful

- Chairs in the changing room at good height with back and arms help

Create Facebook page and begin to launch product information with product sneak peaks Links to sign up to the website when you sign up get exclusive sign-up offer

Exclusive details about events coming near customers soon

Launch 2023 Posting content products Links to website Facebook best for getting website clicks or views/engagement (marinsoftware,2022)

Paid advertisement reach new customers active messenger for customer service and FAQ This one will key feature in creating good customer service and brand transparency with 64 of customers saying this would make them more likely to shop business (Sproutsocial,2022)

We will posting times week on Facebook between the time 8am-9am and 1pm-3pm from research we found this the best time to post to get better engagement people take time on their lunch break (Optimseo,2022)

Post launch Ongoing content on product and website links

Paid advertisements carrying on Information on new launches, as well the core collection Sharing post on upcoming events, with sign up link to find out when Refined coming near to you

From Research from our survey, we also found Facebook as well, Instagram was popular with consumers shop and look at their favourite brands products, see appendix. Data from statistic shows consumers aged 3565 our most active of Instagram making great platform to promote our brand and engage with customers. Instagram free post on and results from our survey show people spend over an hour day using the platform.

Pre-launch weeks before –mock ups next info Create Instagram page and begin launch product information with product sneak peaks via post and story post and reels of close products Links to sign up to the website when you sign up get exclusive sign-up offer on story’s Link bio website Exclusive details about events coming near customers soon post on feed and story story’s saved to highlights

Launch 2023 Posting content products with clear descriptions and sharing the benefits buying our clothing as this something our consumer looks for when looking at item online. Links to website in bio

£3,650 (Facebook, 2019)

Arthritis Charity – providing support, talks, forums, potentially funding.

UK suppliers to provide quality and customers would pay more for items made in the UK.

Looking to source in UK so less freight prices (higher cost of make but quality assured.)

Use of 100% cottons, bamboo recycled fabrics

One to one customer service in shop environment with styling advice.

Providing a good customer service assisting customers in store to find the right clothes to assist them but also how to style them.

Women over 6 who wear adaptive clothing in a fashionable way.

Segmented market. Baby boomers.

Reels showing how to style pieces How wear showing how easy Product information via story and highlights well feed post Post sharing information about upcoming events and links to where find events Shoppable links of post Posting every day Instagram on stories and main feed every other day posting mid-day/week as study shows that’s when consumers take break from their day scroll (Cooper.P ,2022)

Post launch Ongoing content on product and website links Information on new launches, as well the core collection Sharing post on upcoming events, with sign up link to find out when refined coming near you Behind the scenes pictures and short videos to gain excitement on story highlights and feed

The main marketing strategy for Refined will joining with The Women's Institute also known as The WI, the WI has over 212,000 members the UK with 26% aged over 71 and 43% aged between and 70. (The WI, n.d.)

Refined's customer lives rural areas and often members of the WI do well, as there are over 6,000 clubs. The institute gives women opportunity to meet new friends and discuss topics that our important them giving them voice heard and make change for women.

The Women’s Institute hold monthly meetings which are staple meetings for the business new brand will be key marketing present the brand these meeting to gain new customers and talk about the brand, to offer styling advice and convince them why they should be wearing our clothing compared others on the market, selling the key feature such as Easy-Wear.

The Women's Institute

Refined will bringing the initial launch pieces sizes for members try on before making an online purchase. Styling advice would offered those purchasing aalongside demonstrations on how easy the clothing is wear.

In addition to the WI Monthly meetings, Refined clothing will also featured the WI magazine; Refined will have quarter page spread which will cost £2,400 per feature. This gives those who could not attend the meeting an opportunity to view the products and give the company opportunity to reach over 190,000 members, providing further sales for Refined. (The WI, n.d.)

£26,400 (Lawston.A, (2022,) Sophie [Student] 31st November 2022

In future potentially could offer repairs.

Providing clothing to aid ailments and made easier to wear with uniquely designed outfits.

Postal and ordering.

Potential buy in shop or order in pop up.

Future Values we want to add:

- Repair services

- Loyalty Scheme

- Better design for more adaptive wear e.g magnetic buttons etc

- Better production processes/quantity

op up shop website, catalogue

Marketing: TV (most expensive – most viewers) WI magazine (cheaper –smaller market) Mail posting

The U3A

The U3A gives older people the chance learn new skills and share their knowledge also an opportunity join group and meet new people study groups, lessons, and weekly meetings. With over 400,000 members around the UK (U3A, n.d) Refined plan to make monthly visits to the U3A well The WI, they tend to have meetings around the same time. As part of Refined's manifesto, they have chosen collaborate with the U3A as they value their consumer. As some baby boomers are computer savvy, some still struggle getting online and ordering products from brand they haven’t before; The U3A about learning gives members not only chance see our products but also talk member the team and learn how easy the website and how each product made with the consumer in mind which something that can work Refined's advantage.

Another main marketing strategy for Refined will having their products featured on Television. study by Statista shows that "baby boomers watch live for over three hours or more day compared to the younger generation" (statista,2022:online)

This Morning gets around one million views day and 35 of the being baby boomers (YouGov,N.d) making good marketing platform for Refined's clothing they have fashion segment with everyday women models and often cover real life stories. Refined's consumer looks for company that they can trust having show that they trust daily gives Refined some credability.

Television Marketing

As well as This Morning, Refined will also being sending their clothing to QVC Shopping Channel; With its core consumer being the same as Refined's and that they have 30 years experience selling products with customer service through interacting with customers will help boost sales as the show aired hours day.

Being on QVC will allow Refined to showcased to new customer base as they will be able send in questionswhilst they shop and talk to about the brand. Engaging with customers one Refined's core values. It’s been proven that selling QVC successful formula for new business achieve success (Monosoff.T,2006)

Both these opportunities gives the viewer chance see the clothes move on model, find out information about the fabric and how style and therefore making an informed purchase, which something that the consumer looks for lots information before making purchase (bigcommerce,2019)

Instagram £0 -

Website

Refined will outsource the website development with Digital starter pack, as none the team have the right skill set create the website. The website should of high standard and easy access and navigate. The website will be the sole option buy Refined's products therefore, the website must be easy to use and have the target market mind through the design process. Examples would be having clear font, headings that are easy to read and prompts to guide the user to the checkout section. As the 65 plus market are the biggest online shoppers since Covid 19, spending 49 more than other years, important that the website easy use for this demographic (Dailey.N,2021)

Photoshoot Before launching, Refined will conduct photoshoot shoot e-commerce images the products, well some flat images display the clothing well. These will be shot in studio with white back drop and older models.

Influencer Marketing

Total Cost

£829 (Michael, 2022) (Digital starter pack, n.d.)

£785 per shoot (Uniq studios, n.d.) Hornby.S (2022) Gemma [Student] 20th November

As Refined online community grows, the Marketing Director will start reaching out older micro-influencers, who have large boomer following and they trust the opinion off, which important boomers (Pixlee TurnTo,n,d) Refined will send clothing pieces influencers them share how they style piece with honest reviews for further feedback to improve the brands future collections. The cost this will decided amongst the directors when the time comes. £31,664

Manufacturing in UK and premium fabrics will be large cost. Website creation and upkeep

Packaging

Finance throughout the year, personal styling customer service, HR, garment tech/quality – All jobs we can do.

Fixed pricing – customers would be willing to pay more (will be getting results from survey

Receiving service as well as product so happy to pay more and if UK made.

51 52

Team meeting - Fashion Enterprise 202

Meeting Date 4/10/2022

Team meeting - Fashion Enterprise 202 2

Meeting Date 07/10/2022

Meeting Attendees: Gemma Gray Catherine Ward Lauren Blackmore

Absent: Grace Wildgoose - Ill

Minutes taken by: Catherine Ward Next Meeting Date 2/10/2022

Key points iscussed today:

Item 1: Whether we were going to provide service or product

Sophie Woodliffe

Item 2: Which ailments occur the most the 50+ market and whether they are being tended to

Item 3: Marketing Points

New Actions

Reference Action details Status Assigned to Due By

Research Tech fabrics and potential competitors To Do LB 14/10/22

Research Stats of arthritis/stroke survivors/parkinsons To Do SW 14/10/22

Research Looking at and potentially contacting some charities To Do GW 14/10/22

Research Adaptive technology/fit To Do G 14/10/22

Research pending habits/Average Pensions Locations To Do CW 14/10/22 General Look at job roles/business plan and allocated sections To Do ALL 14/10/22

Points carried over from last meeting

Reference Action Items Status Who Due By Last meeting was when we were grouped together

Team meeting - Fashion Enterprise 202

Meeting Date 12/10/2022

Meeting Attendees: ▪ Gemma Gray ▪ Catherine Ward ▪ Lauren Blackmore

Sophie Woodliffe Grace Wildgoose Absent: ▪ ▪

Minutes taken by: Catherine Ward Next Meeting Date 14/10/2022

Key points discussed today:

Item 1: Narrowing down ideas Fashionable Clothing for 60+ with Arthiritis Item 2: Broader look at competitors Item 3: Marketing discussion continued

New Actions

Reference Action details Status Assigned to Due By Cont. Continue research points from previous meeting To Do ALL 14/10/22 Skills Audit Complete Skills Audit To Do ALL 14/10/22 Points carried over from last meeting

Reference Action Items Status Who Due By N/A All was covered and completed Reference = for example Look Book Action item = discuss the layout and formatting of the Look Book Status = use the green, amber, red colours to highlight progress Who = name or

Meeting Attendees: Gemma Gray Catherine Ward Lauren Blackmore

Grace Wildgoose Absent: Sophie Woodliffe

Minutes taken by: Catherine Ward Next Meeting Date

Key points iscussed today: Item 1: Highlighting initial

Item 3: Drafted the survey/questionnaire

New Actions

Reference Action details Status Assigned to Due By

Research/Product Look into different fabrics/technologies that we could use to justify our high price point To Do All 19/10/22

Research - Primary Draft survey questionnaire To Do All 19/10/22

Points carried over from last meeting

Reference Action Items Status Who Due By

Team meetings - Fashion Enterprise 202

Meeting Date 21/10/2022

Meeting Attendees: Gemma Gray Catherine Ward Lauren Blackmore

Sophie Woodliffe Absent: Grace Wildgoose – Online for meeting with tutor

Minutes taken by: Catherine Ward Next Meeting Date 25/10/2022

Key points iscussed today:

Item 1: Decided on brand name - Refiné

Item 2: Focus on competitor analysis start designing

Item 3: Deciding against having store somewhere due our target market being very saturated across the UK but to have ‘pop up shop’ instead to allow customers to try before they buy

Item 4: Determined our main competitors: John Lewis, Marks Spencers, Tommy Adapative, The Able Label, Sainsburys’ TU and Karen Millen

New Actions

Reference Action details Status Assigned to Due By

SWOT Look at M&S and Sainsbury’s TU To Do G 28/10/22

SWOT Look at John Lewis and The Able Label To Do W 28/10/22

SWOT Look at Karen Millen and Tommy Hilfiger To Do 28/10/22

SWOT Look at Best Sellers for all of competitors and pricing To Do W 28/10/22

Finance Research Looking at general costs for starting company To Do W 28/10/22

Marketing Study QVC channel to gauge how to use as advantage To Do G 28/10/22

Questionnaire Put questions into google form to start send out To Do G 21/10/22 Branding Design Logo and colour palette To Do 21/10/22

Points carried over from last meeting

Reference Action Items Status Who Due By

Team meeting - Fashion Enterprise 202

Meeting Date 28/10/22

Meeting Attendees: Sophie Woodliffe Catherine Ward Grace Wildgoose

Absent: Gemma Gray Lauren Blackmore

Minutes taken by: Catherine Ward

Next Meeting Date 01/10/22

Key points discussed today:

Item Agreed on Branding and colour palette

Item Amended questionnaire questions

Item iscussed potential supply chain strategies – To produce in the UK or overseas/FF or CMT

New Actions

Reference Action details Status Assigned Due By

SWOT Look at & analyse M&S and Sainsbury’s TU To Do GG 28/10/22

SWOT Look at & analyse John Lewis and The Able Label To Do GW 28/10/22

SWOT Look at & analyse Karen Millen and Tommy Hilfiger To Do LB 28/10/22

SWOT Look at & analyse Best Sellers for all competitors and pricing To Do W 28/10/22

Finance Research Looking at general costs for starting company To Do W 28/10/22

Marketing Study QVC channel to gauge how to use as advantage To Do G 28/10/22

Points carried over from last meeting

Reference Action Items Status Who Due By

Questionnaire Put questions into google form to start send out Done Gemma 21/10/22

Branding Design Logo and colour palette Done Lauren 21/10/22

Team meeting - Fashion Enterprise 202

Meeting Date 01 11 22

Meeting Attendees: Gemma Gray Catherine Ward Sophie Woodliffe Grace Wildgoose

Absent: Lauren Blackmore Minutes taken by: Catherine Ward Next Meeting Date 04/11/22

Team meeting - Fashion Enterprise 202

Meeting Date 04.11.22

Meeting Attendees: Gemma Gray Catherine Ward Lauren Blackmore

Absent: Grace Wildgoose

Minutes taken by: Catherine Ward Next Meeting Date 07.11.22

Key points discussed today:

Item 1: Fine tune formative submission including reference slide

Item 2: Record voice over for formative submission

Item 3: Discuss further exploration for independent study week

New Actions

Sophie Woodliffe

Reference Action details Status Assigned to Due By

Formative Submission Upload Powerpoint of Submission To Do CW 04.11.22 9PM

Products Fabric research and developing Initial designs To Do GW 07.11.22

Marketing Marketing research & look into photoshoot costs To Do GG 07.11.22

Customer Customer board. Brand positioning map and start Business Plan Layout To Do LB 07.11.22

Premises Research into containers/conversions personal survival plans To Do SW 07.11.22

General Start populating Business Plan, create owners’ background summaries To Do CW 07.11.22

Points carried over from last meeting

Reference Action Items Status Who Due By

Formative Submission Create infographic for Survey responses Done GG 04/11/22

Formative Submission Create visuals for manifesto slide and plan slides Done LB 04/11/22

Formative Submission Compile marketing research e.g the WI and U3A Done SW 04/11/22

Formative Submission Continue writing script for submission Done CW 04/11/22

Products Start drafting initial designs and looking into fabric Ongoing GW 14/11/22

SWOT Look at analyse Best Sellers for all of competitors and pricing Ongoing CW ASAP

Finance Research Looking at general costs for starting company Ongoing SW ASAP

Team meeting - Fashion Enterprise 202 2

Meeting Date 07.11.22 – Reading Week

Meeting Attendees: Gemma Gray Catherine Ward Lauren Blackmore

Absent: Minutes taken by: Catherine Ward Next Meeting Date 16.11.22

Key points iscussed today:

Sophie Woodliffe Grace Wildgoose

Team meeting - Fashion Enterprise 202

Meeting Date 16/11/22

Meeting Attendees: Gemma Gray Catherine Ward Lauren Blackmore

Absent: Minutes taken by: Catherine Ward Next Meeting Date 18/11/22

Key points discussed today:

Sophie Woodliffe Grace Wildgoose

Item 1: Reading Week – all members to continue any unfinished tasks set 04.11.22

Item 2:

Item 1: Discuss outcome of research into horse boxes/mobile store conversions = Concluded as being too expensive

Item 2: Look at initial designs and critique

Item 3: Decide on Instagram Handle

Item 4: Discuss promotional extras e.g. business cards etc

New Actions

Reference Action details Status Assigned to Due By

Finance Start populating start-up cost table To Do SW 18/11/22

Marketing Conclude

Item 3:

New Actions

Reference Action details Status Assigned to Due By

General Complete all unfinished taks set from 04.11.22 To Do All 16.11.22

Points carried over from last meeting

Reference

Marketing

General

Team meeting - Fashion Enterprise 202

Meeting Date 23/11/22

Meeting Attendees: Gemma Gray Catherine Ward Lauren Blackmore

Absent: Minutes taken by: Catherine Ward Next Meeting Date 25/1 /2022

Key points discussed today:

Sophie Woodliffe Grace Wildgoose

Item 1: Look at results of branding survey and come to decision on colours and fonts etc

Item 2: Decide on packaging as a group

Item 3: Complete consumer journey discussion

Item 4: Continue social media strategy discussion

New Actions

Reference Action details Status Assigned to Due By

Marketing Social Media Strategy research To Do 25/11/22

Visuals Consumer Journey Infographic To Do GW 25/11/22

Packaging Compiling costs for finance To Do LB 25/11/22

Finance Continue start up cost tables To Do SW 25/11/22

Business Populat ethe business plan To Do CW 25/11/22

Points carried over from last meeting

Reference Action Items Status Who Due By

Business SWOT of our business, Critcial Path and investigate intellectual property rights Done CW 23/11/22

Products Create Coloured CADS Colour Palette ne GW 23/11/22

Brand Identity Summary of font choice and brand colour scheme Done LB 23/11/22

Packaging Decide on packaging and costs Done LB 23/11/22

Marketing Look at and plan Marketing/Social Media Strategy Done LP & GG 23/11/22

Marketing Marketing Reports – rationale Done GG 23/11/22

Customer Define customer demographics Done GG 23/11/22

Branding Create and send out questionnaire for Branding Done SW 23/11/22

Team meeting - Fashion Enterprise 202 2

Meeting Date 25/11/22

Meeting Attendees: Gemma Gray Catherine Ward Lauren Blackmore

Absent: Minutes taken by: Catherine Ward Next Meeting Date 30/11/22

Key points discussed today:

Item 1: Start to plan Look Book and it’s visuals

Sophie Woodliffe Grace Wildgoose

New Actions

Reference

Branding Create and send out questionnaire for Branding To Do SW 23/11/22

Points carried over from last meeting

Reference Action Items Status Who Due By

Finance Start populating start-up cost table Ongoing SW 18/11/22

Marketing Conclude research and provide costing for each method D ne GG 18/11/22

General Go through research and highlight any missing areas Done All 18/11/22

Item 2: Decide on costs and fabrics for first products

Item 3: Discuss some of the costs and how to reduce them

New Actions

Reference Action details Status Assigned to Due By Business Plan Start re-reading sections and editing To Do CW 30/11/22

Finances Finalise tables To Do SW 30/11/22

Marketing Complete research sections and marketing table To Do GG 30/11/22

Design Plan out Look Book and start to create To Do LB 30/11/22

Design Colour CAD’s of products and start descriptions To Do GW 30/11/22

Points carried over from last meeting

Reference Action Items Status Who Due By

Marketing Social Media Strategy research Done GG 25/11/22

Visuals Consumer Journey Infographic Done GW 25/11/22

Packaging Compiling costs for finance Done LB 25/11/22

Finance Continue start up cost tables Done SW 25/11/22

Business Populat ethe business plan Done CW 25/11/22

57

Team meeting - Fashion Enterprise 202 2

Meeting Date 30/11/22

Meeting Attendees: Gemma Gray Catherine Ward Sophie Woodliffe Grace Wildgoose

Absent: Lauren Blackmore

Minutes taken by: Catherine Ward

Next Meeting Date 02/12/22

Key points discussed today:

Item 1: Focusing on populating the business plan template ahead of draft submission

Item 2: Clarifying marketing strategy

New Actions

Reference Action details Status Assigned to Due By

Business Plan Continue Populating business plan for submission To Do All 02/12/22

Points carried over from last meeting

Reference Action Items Status Who Due By

Business Plan Start re-reading sections and editing Done CW 30/11/22

Finances Finalise tables Done SW 30/11/22

Marketing Complete research sections and marketing table Done GG 30/11/22

Design Plan out Look Book and start to create Done LB 30/11/22

Design Colour CAD’s of products and start descriptions Done GW 30/11/22

Meeting Date 07/12/22

Sophie Woodliffe Grace Wildgoose Absent: Minutes taken by: Catherine Ward Next Meeting Date 09/12/22 Team meeting - Fashion Enterprise 202 Meeting Date 09/12/22 Meeting Attendees: Gemma Gray Catherine Ward Lauren Blackmore

Team meeting - Fashion Enterprise 202

Meeting Date 14/12/22

Meeting Attendees: Gemma Gray Catherine Ward Lauren Blackmore

Absent: Minutes taken by: Catherine Ward

Next Meeting Date 25/10/2022

Key points discussed today:

Item Reduce word count in Business Plan

Item Prepare for Summative hand in

New Actions

Sophie Woodliffe Grace Wildgoose

Reference Action details Status Assigned to Due By

Summative Hand-in Submit Business Plan To Do CW 15/12/22 by 9pm

Summative Hand-in Submit Lookbook To Do LB 15/12/22 by 9pm

Summative Hand-in Submit group policy To Do All 15/12/22 by 9pm

Points carried over from last meeting

Reference Action Items Status Who Due By

Marketing Write desk and primary research sections Done GG 07/12/22

Designs Work on design descriptions Done GW 07/12/22

Layout Make infographics from large information and adjust layout Done LB 07/12/22

Team meeting - Fashion Enterprise 202 2

Meeting Date 02/12/22

Meeting Attendees: Gemma Gray Catherine Ward Lauren Blackmore

Absent: Minutes taken by: Catherine Ward

Next Meeting Date 07/12/22

Key points iscussed today:

Item 1: Finalise business plan draft before submission

Item 2: Re-order business plan in template/layout

Sophie Woodliffe Grace Wildgoose

New Actions

Reference Action details Status Assigned to Due By

Submission Submit formative Business plan draft To Do CW 02/12/22 by 9pm

Marketing Write desk and primary research sections To Do GG 07/12/22

Designs Work on design descriptions To Do GW 07/12/22

Layout Make infographics from large information and adjust layout To Do LB 07/12/22

Finance Summarise paragraphs more to reduce word count To Do SW 07/12/22

Points carried over from last meeting

Reference Action Items Status Who Due By

Business Plan Continue Populating business plan for submission Done All 02/12/22

Sophie Woodliffe Grace Wildgoose Absent: Minutes taken by: Catherine Ward Next Meeting Date 14/12/22 Key points iscussed today: Item Finalise business plan draft Item Adjust areas highlighted by MD that need more work New Actions Reference Action details Status Assigned to Due By Submission Complete Group Policies and reference Gibbs model To Do All 14/12/22 Business Continue with looking over and improving business plan To Do All 14/12/22 Points carried over from last meeting Reference Action Items Status Who Due By Marketing Write desk and primary research sections Ongoing GG 07/12/22 Designs Work on design descriptions Ongoing GW 07/12/22 Layout Make infographics from large information and adjust layout Ongoing LB 07/12/22 Finance Summarise paragraphs more reduce word count Ongoing SW 07/12/22 Business Complete sections that are still small or need improvement Ongoing All 09/11/22 Lookbook Create Lookbook and share with group Ongoing LB 09/11/22 Layout Adjust layout with improved section Ongoing LB 09/11/22 Business Re-read sections and check

Finance Summarise paragraphs more to reduce word count Done SW 07/12/22

Business Complete sections that are still small or need improvement Done All 09/11/22

Lookbook Create Lookbook and share with group Done LB 09/11/22

Layout Adjust layout with improved section Done LB 09/11/22

Business Re-read sections and check for spelling and grammar Done CW 09/11/22

Finance Research Looking at general costs for starting company Done Sophie 09/11/22

Referencing Ensure all links the referencing section have been used and referenced properly Ongoing All 09/11/22

Submission Complete Group Policies and reference Gibbs model Ongoing All 14/12/22

Business Continue with looking over and improving business plan Ongoing All 14/12/22

for spelling and grammar Ongoing CW 09/11/22

Finance Research Looking general costs for starting company Ongoing Sophie 09/11/22

Referencing Ensure all links the referencing section have been used and referenced properly Ongoing All 09/11/22

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Baran, C. (2022) Best Times to Post on Social Media in the UK | Optim SEO. optimseo. [Online] [Accessed on 23rd November 2022] https://optimseo.co.uk/best-times-to-post-on-social-media-in-the-uk/#:~:text=What%20are%20the%20Best%20Times%20to%20Post%20on%20Facebook%20in.

Baran, C. (2022) Best Times to Post on Social Media in the UK | Optim SEO. Optimseo. [Online] [Accessed on 23rd November 2022] https://optimseo.co.uk/best-times-to-post-on-social-media-in-the-uk/#:~:text=What%20are%20the%20Best%20Times%20to%20Post%20on%20Facebook%20in.

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Bendoni. W, (2017) Social Media for Fashion Marketing, Storytelling in a Digital World . London [Online] [Accessed on 2nd December 2022]

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Chambers, S. (2021) Fashion retailers’ Brexit plans come apart at the seams. Business | The Sunday Times. [Online] [Accessed on October 21, 2022] https://www.thetimes.co.uk/article/fashion-retailers-brexitplans-come-apart-at-the-seams-0kwn8vf3w?gclid=CjwKCAjw79iaBhAJEiwAPYwoCF-I6uybeIOUEsj8raFrvgKRXh1Zwmarf-JRmwk9WX2tMGeA9hDRXBoCiB0QAvD_BwE

Checkatrade. (2022) Shop Renovation Cost. [Online] [Accessed on 25th November 2022] https://www.checkatrade.com/blog/cost-guides/shop-renovation-cost/

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Companies House. (No Date, b) Register a limited liability partnership (LL IN01). GOV.UK. [Online] [Accessed on 28th October 2022] https://www.gov.uk/government/publications/register-a-limited-liability-partnership-ll-in01

58 15 - R E F E R E N C E S

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Dutton, K. (2022, a) Sophie [Student] 8th November 2022

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Innovate UK. (No Date) Boosting innovation through Diversity. [Online] [Accessed on 2nd December 2022] https://ktn-uk.org/programme/women-in-innovation/

InSpec. (2018) CMT vs Fully Factored Manufacturing in Apparel Industry [Online] [Accessed on 28th October 2022] https://www.inspec-bv.com/cmt-vs-fully-factored-manufacturing-in-apparel-industry

Instagram (2022a) Instagram John Lewis. Instagram [Online] https://www.instagram.com/johnlewis/?hl=en.

Instagram (2022a) Instagram The Able Label. Instagram. [Online] [Accessed on 8th November 2022] https://www.instagram.com/theablelabel/.

Instagram (2022a) Instagram Uniqlo Instagram [Online] [Accessed on 10th November 2022] https://www.instagram.com/uniqlo/?hl=en.

Instagram (2022b) Instagram M&S Instagram. [Online] [Accessed on 9th November 2022] https://www.instagram.com/marksandspencer/?hl=en.

Instagram (2022b) Instagram, Klass Collection. Instagram. [Online] [Accessed on 12th November 2022] https://www.instagram.com/klasscollection/.

Instagram (2022b) Tommy Hilfiger (@tommyhilfiger) • Instagram photos and videos. Instagram [Online] [Accessed on 7th November 2022] https://www.instagram.com/tommyhilfiger/?hl=en.

Instagram (2022c) Instagram,Karen Millen Instagram. [Online] [Accessed on 12th November 2022] https://www.instagram.com/karen_millen/?hl=en.

Instagram (2022d) Instagram,Tu clothing. Instagram [Online] [Accessed on 10th November 2022] https://www.instagram.com/tuclothing/?hl=en.

Jess. (2022) Sophie [Student], 21st October 2022

Edited (2022) John Lewis & Partners: Email UK Edited. [Online] [Accessed on 9th November 2022] https://app.edited.com/#vm/new/new/john-lewis/1018?date=month&order_by=default&query=John%20 lewis&show=all.

Similar Web (2022) Johnlewis.com Traffic Analytics & Market Share [Online] [Accessed on 9th November 2022] https://www.similarweb.com/website/johnlewis.com/#interests.

Kaye Middleton & Co. (No Date) Business start-up. [Online] [Accessed on 28th November 2022] https://www.kayemiddleton.co.uk/services/business/business-startup

Kimbarovsky, R. (n.d.) Small Business Marketing Guide: Types of Traditional and Online Marketing. crowdspring Blog. [Online] [Accessed on 12th December 2022] https://www.crowdspring.com/blog/small-business-marketing-guide-types-of-traditional-and-online-marketing/#:~:text=Traditional%20marketing%20relies%20on%20offline.

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Klass (n.d.) Klass - dresses, tops, knitwear, skirts, trousers. Dresses, Tops, Blouses, Knitwear, Cardigans, Coats, Jackets, Trousers And Skirts. [Online] [Accessed on October 31, 2022] https://www.klass.co.uk/

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Office Boffins. (No Date) Cita Reception Chairs (Pack of 2) [Online] [Accessed on 15th November 2022] https://www.officeboffins.co.uk/cita-reception-chairs-pack-of-2.html

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Pearl Company. (2022) “The Ultimate Pearl Earring Collection.”

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PHV (2021) Tommy Hilfiger Takes Next Steps Towards Long-Term Minority Representation. PVH [Online] [Accessed on 8th November 2022] https://www.pvh.com/news/tommy-hilfiger-peoples-place-program-partnerships.

Pixlee TurnTo (n.d.) Does Influencer Marketing Work with Baby Boomers? Pixlee TurnTo Blog. PIXLEE [Online] [Accessed on 12th December 2022] https://www.pixlee.com/blog/does-influencer-marketing-work-with-baby-boomers.

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Rodela, J. (2022) How to Market Content to Baby Boomers in 2022. ClearVoice. [Online] [Accessed on 23rd November 2022] https://www.clearvoice.com/blog/baby-boomer-content-marketing/.

Rodela, J. (2022) How to Market Content to Baby Boomers in 2022. ClearVoice Blog. [Online] [Accessed on 23rd November 2022] https://www.clearvoice.com/blog/baby-boomer-content-marketing/.

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Shea, M. (n.d.) 7 Ways Events Can Help Grow Your Fashion Brand. Fashion Mingle. [Online] [Accessed on 27th November 2022] https://fashionmingle.com/use-events-grow-fashion-brand/.

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SimilarWeb (2022) Similar Web Tommy Hilfiger. SimilarWeb. [Online] [Accessed on 8th November 2022] https://www.similarweb.com/website/uk.tommy.com/#display-ads

SimilarWeb (2022). theablelabel. SimilarWeb. [Online] [Accessed on 12th November] Available at: https://www.similarweb.com/website/theablelabel.com/#traffic-sources

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The WI (No Date) THE WI AT 100: A CENTURY OF INSPIRING WOMEN. The WI, pp. 4–8. [Online] [Accessed on 27th November 2022] https://www.thewi.org.uk/__data/assets/pdf_file/0006/498264/The-WIat-100.pdf

The WI. (2019) Media Pack WI Life 2019. [Leaflet]

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TikTok (2022b) TikTok John Lewis. TikTok [Online] https://www.tiktok.com/@johnlewis?lang=en.

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Wadham, C. (2021) Brexit’s broken promises heap more pain on fashion retail. Drapers. [Online] [Accessed on October 21, 2022] https://www.drapersonline.com/insight/analysis/battling-with-brexits-administrative-burden

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Youtube (2022a) YouTube, The Able Label Clothing Youtube. [Online] [Accessed on 8th November 2022] https://www.youtube.com/channel/UCfypWgpeEA2EZfDtnMGC3rQ.

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Third Eye Traveller (2022) The Bridge over the River Bybrook. [Online Image] [Accessed on 16th November 2022] https://thirdeyetraveller.com/castle-combe-travel-guide/

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