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Business Plan
HENRY GARMENTS, UNITED STATES, NEW YORK
177, A, LOWER MANHATTAN
546-234-9876
Date of Incorporation of Henry Garments, US: September 14, 2019
Management Team of Henry Garments:
Chief Executive Officer: Henry Louis
President: Clara Watson
Finance Officer: Claire Mary
Operation Officer: Robert Bernard
Human Resource Head: Jane Austen
Table of Contents
5Executive Summary
6Vision/Mission Statement and Goals
6A. Vision Statement
6B. Goals and Objectives
6The goals and objectives of Henry Garments are:
6C. Keys to Success
7Company Summary
7A. Company Background
8B. Resources, Facilities and Equipment
8C. Marketing Methods
9D. Management and Organization
9E. Ownership Structure
10F. Social Responsibility
10G. Internal Analysis
11Products and/or Services
12Market Assessment
12A. Examining the General Market
13B. Customer Analysis
14C. Industry Analysis
15D. Strategic Alternatives
16Strategic Implementation
16A. Production
16B. Resource Needs
17C. Sourcing/Procurement Strategy
18D. Marketing Strategy
18E. Performance Standards
19Financial Plan
19A. Financial Projections
20B. Contingency Plan
21References
Executive Summary
In this business proposal, detailed business plans are prepared for Henry Garments, US so that the company can soon attain more success. The business plans comprise the vision statement of the company, the details of the company and the activities of the company without the proposal. After this, the details of the products the company now sells and what will be better for them in the future has been also analyzed. The aspect of differentiation of market and segmentation of the market has been also described in the plan. Finally, all the expected outcomes from all the plans recommended to implement has been also illustrated.
Vision/Mission Statement and Goals
A. Vision Statement
The vision Statement of Henry Garments, US are to provide the best comforts to the customers from the garments of the company. Apart from this, the company also intends to establish relationships with the customers beyond sales that will serve as an additional impetus for the growth of the business. In brief, the vision statement of Henry Garments is “To create a better and comfortable life for the customers through the dress materials of Henry Garments”
B. Goals and Objectives
The goals and objectives of Henry Garments are:
· To initiate a high number of sales of Henry Garments so that the company can be more financially potential
· To establish a friendly and personal relationship with the customers of the company so that they can rely on the company
· To offer the best products to the customers and get a good competitive advantage in the competitive market
· To launch Henry Garments at international level also after success at the domestic market, US
· To mitigate all probable risk factors with adequate planning
· To infuse innovation and creativity within the ambit of the company
C. Keys to Success
For the success of any business organization, several factors are dependent upon it. Especially in this competitive market, all the rival companies of Henry Garments are adopting and implementing several marketing strategies for their respective organizations so that they avail good marketing advantages from the market. Now coming to the aspect of Henry Garments being a startup company it is highly critical for the company to ensure their success soon and attain a competitive advantage.
However, if the company can understand the current demands and inclinations of the customers then it will be easier to boost up their sales and thus make the foundation of the company more strong. Thus for ensuring the swift and speedy success of Henry Garments the best way is to cater to the attraction of the customers by offering them innovative and new modeled dress materials at affordable prices. If this can be achieved, the success of the company is not too far and for this organization, customers are the keys to attaining success.
Company Summary
A. Company Background
Henry Garments sells dress materials to the customers of the US and the company sells different types of dress materials both to male and female customers and also for the children. The main individuality that Henry Garments maintains as compared to the other company is they always try to bring some touch of creativity and innovation in their dress material. Due to being a startup company, the organization has at present five stores in different areas of the US that mostly include Los Angeles and Lower Manhattan.
The Garment was founded by the collaborative efforts of the Current CEO and President of the company, Henry Louis and Clara Watson respectively. They are very good friends and the organization was incorporated by the collaborative agreements of these two partners of the company.
Starting from a zero point until now the company has been able to inaugurate five stores and recruit more than 500 employees including all the different divisions of the operation of the company and they have achieved this success only upon depending upon the customers by understanding their needs and requirements.
B. Resources, Facilities and Equipment
Apart from the five stores of the company, the Henry Garments also owns two manufacturing units where the dress materials are manufactured by the experts of the company. For this, the company has several pieces of machinery and equipment that are required for the manufacturing procedure.
When the company was incorporated at the formative sessions the management hired some machinery and after initiating some success, they machineries and the equipment were purchased.
Now, coming to the employees of the organization, all the employees are recruited through talent-hunt type interview sessions and the employees are considered as the human resources of the organization. As rewards, the employees are provided with handsome and lucrative incentives for additional workload and timely salaries.
C. Marketing Methods
At present, the annual total units of the company are 1200 units of dress materials annually making a profit of $14 profit per unit. Currently, the company has partnership alliances with some other reputed textile limited of us that include Albany International, American Enka Company and American Woolen Company.
In the stores of these organizations, also the dress materials of Henry Garments are sold, as the company has no adequate stores to address all the customers. The company has a contract agreement with all the above-listed companies for allowing to display and it sells the products of Henry Garments at their stores and for this, they charge $2678.11 annually.
D. Management and Organization
The management team comprises of:
Chief Executive Officer: Henry Louis
President: Clara Watson
Finance Officer: Claire Mary
Operation Officer: Robert Bernard
Human Resource Head: Jane Austen
Apart...