unit 36 p5 d1

UNIT 36 P5

Prepare a proposal containing the essential information for the start up of a business

In this assignment I will be producing a detailed business proposal which addresses the essential information and relevant aspects I need to start-up a business. A business proposal is something that will give me an indication of how my business is going to do and it just focuses on the key points of the business. It will help me in order to allocate resources and to prepare myself for problems and opportunities that could be possible.

Name of Business: KANDY

What would the main products of the business be: Make-up products which will be my own branded make-up. I will be purchasing these supplies from my own wholesalers which I have a close relationship with

Address: 110 High Road, Bushey, WD23 1GE
Other locations for business: I will only be opening one store at the start because I want to see if it is going to be successful or not. Depending on how it goes, I will then reconsider opening a second store in a different location.

Type of business structure: I will be running my business as a  sole trader because this allows me to run the business alone and therefore it means I receive all of the profit alone. Also, the achievement at the end of it is great because it allows me to feel proud of myself at how far I have come. I think working as a sole trader is the best way to run the business I am introducing because it is a start-up business which means I want to keep all the profit made. The aim for my business is that I want to earn as much profit as I can to make a living, as well as getting brand recognition in order for my business to grow and be recognised by people. Another aim for the business is that, I need to increase the market share which can be challenging, however I am determined to do it. The target audience for my business are females aged between 10-50 because their are a wide range of products which are suitable for different people which is why the target audience has a large age range. The products will be priced at an affordable high street price to attract customers. However, they will not be priced too low as they fear the products represent the price. The unique selling point for my business is that it is candy themed, therefore all the make-up and the store itself is going to be decorated as different types of candy and in the store there will be replicates of candy items such as a large lolly pop, cotton candy sofa etc. I feel my business will have a high demand as it is an unusual idea and it stands out for females because they are always competing with the best make-up they can get and who has the latest, most modern brands. This is where my business comes in because it is candy themed which ever girl likes and the packaging will be made to look extremely appealing to the target audience and to look like duplicates of the candy that each product replicates. Because of this I think there will be a high demand for my products because once people start getting them everyone will want them because when something trends it gets everyone involved and every girl wants it.

Description of the business: I will be selling my own branded make-up because I have a strong passion, determination and knowledge to be able to make it successful. It will enable me to work on improving a range of skills which will help me in the future for a various number of things. I will be selling products that I enjoy selling. I would like to expand my store or build another store in another location in the future and maybe eventually be able to get my products into department stores like John Lewis, Fenwick's etc. Additionally, I would like to hope I could get my products into supermarkets because this is a huge way of making profit and they have a massive customer base because they are established businesses and extremely well-known globally.  I hope to have started paying off my bank loans that I have borrowed to help start-up my business because this will be a big weight of my shoulder and allow me to pay less back in the future. 40% of start-up businesses fail within the first 3 years which is something I do not want to face, therefore I will identify problems in my business and overcome them instantly. I will be extremely organised and keep on top of important things in the business such as the finance. Break even, profit and sales targets will constantly be checked and maintained to ensure my business is stable enough to survive however, if I am not then I will provide information for the banks to aid with extra financial backing.

Market: I will be doing market research in order to gain information from the businesses target audience to find out specific things about the products I will be selling and the make-up industry overall. I will do some primary research, in which I will produce a questionnaire because this is an accurate, reliable type of research. Additionally, I will be getting a focus group together because this is a good way to show the products to potential customers and get their opinions and feedback on them before launching them in my store and to get na idea of what they would like to see. Also, I will be doing secondary research in which I will use the Internet to look at my competitors and other make-up products to see what's already out there.

Human Resources:

Physical Resources:

Financial Resources:

Financial and Profit forecasts:

Growth and Development:

Contingencies:



Supplier one: Aulola
Location: R/O 53 Broughton Ln, Salford, Manchester, United Kingdom. ZIP: M8 9UE

Supplier two: Shure Cosmetics
Location: Unit 6 The I O Centre/Skeffington Street, Woolwich, London, SE18 6SR

Cash flow forecast for first 6 months of trading:

UNIT 36 D1

Present a comprehensive business proposal that addresses all relevant aspects of business start up

Within this assignment I will present a comprehensive business proposal which addresses all the relevant aspects of my start-up business, KANDY.

Contents Page

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ownership
choice of location
target market
products for sale
advertising methods
financial plan
legal factors