Business Plan: D'Light Handbags (2007)

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Business Plan: D'Light Handbags (2007)

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Abstract

D'Light Company produces exclusive, fashionable handbags with unique lighting system build inside each product. The built in light makes it easier for the user to find the desired items in the handbag regardless of the outside conditions (during the night, in the dark etc.).The handbags are available in various, fashionable colors, designs and sizes. D'Light Company manufactures the handbags itself in rented premises at the outskirts of Coventry. The ready made light-up system is bought from a British producer and afterward fixed inside the handbags during the production process. D'Light Handbags high quality products are unique and exclusive, and its target consumers are young successful women with upper-middle to upper-end incomes who are fashion conscious, value their comfort, are up to date with technology and innovations and are not afraid to stand out from the crowd. Keeping in mind the target customers, D'light Co. will sell its products in the big cities of the UK market. At the beginning the products will be available in fashion shops, women accessories retailers and fashion boutiques.

Executive summary.
1. Description of business.
2. Financial summary.
3. Business differentiators.
4. Business credibility.
The company and industry.
1. Purpose of the company.
2. Company founders and skill sets.
3. Competitive differentials.
Products and services.
1. Main products, services and markets.
2. Distinctive qualities.
3. Technological capacity.
4. Future potential.
Markets: Market size, history, competition, potential and growth.
1. Market segmentation and expected market share.
Marketing: Promotion and sales, success, benefits and sales expectations, postioning.
Design and development.
Management.
Finance: Financial requirements and analysis.
1. Key ratios, balance sheet, sensitivity analysis and break-even point.
Risks: Risk analysis.
Objectives and milestones.
References.
Appendix.

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[...] Without exception, all accessories shown find greatest favor among the more affluent socio-economic groups, although there is less variation in purchasing patterns for handbags and purses and wallets. As with warm scarves and gloves, both handbags and purses widen the appeal of the accessories market by offering broad ranges of styles and price points Purchasing decision makers A quarter of the population has not purchased any accessories over the last year, retired and less affluent socio-demographic groups most likely to have abstained from purchasing. [...]

[...] Therefore, D'Light with its unique light-up handbags of high quality and style can be easily recognizable and differentiated from the other companies producing women accessories in the British market Business credibility D'Light will prove its credibility by introducing the product made using the highest possible quality of leather, of high level of innovation (light–up system), finding the perfect combination between its customers' tastes and expectations and the latest trends in world fashion. In order to reach highly set standards, the company will hire a talented and creative designer and a skilful manufacturing team with long term expertise. [...]

[...] The current ratio indicates if a business can meet its short-term debts with its available assets. It underlines the liquidity position of the company in its short term. Between year 1 and year the ratio will slightly decrease. The company will still have enough cash to cover its immediate liabilities. So the company can have a short-term investment. The quick ratio is the same as that of the current ratio except that the stock is deduced as it can be hard sometimes to be quickly converted into cash. [...]

[...] D'Light Company is not planning to sell handbags via Internet because it weakens the brand image and recognition as a good quality product. iv. Word-of-mouth advertising Since the target customers of the D'Light Co. are women, the word-to-mouth aspect of advertising needs to be thought of. Women like to talk and discuss new trends of fashion. And the opinion of others has an immense impact on their buying behavior. For that reason, D'Light Co. gives attention to the communication to its customers, it tries to follow the needs and preferences and reply to them, constantly improving the company's products and image Measuring success In order to measure the success of the handbag, a questionnaire is the best thing to use. [...]

[...] D'Light handbags focuses on specific and demanding consumers, that is why the brand needs to have a carefully planned and high quality image. In the eyes of the customers, D'Light handbags should not only be seen as high quality products but also as fashion accessories. That is why the key factor in the short-term strategy is a successful advertising campaign. The company decided to adopt a strategy that aims at attracting the target customers towards the new product. For that reason, the promotional means include: Fashion Magazines: The known and respected women's fashion magazines are a perfect way to present and gain interest for the handbags among the customers. [...]

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