business idea aftab

7/31/2019 Business Idea Aftab

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NATIONAL INSTITITUTE OF FASHION TECHNOLOGY, JODHPUR Page 1

A business idea is a concept which can be used for commercial purposes. It typically centres on

a commodity or service that can be sold for money, according to a unique model.

There are several methods for developing and testing a business idea. The ability to come up

with a business idea can be transformed into a viable business, where ideas supported by

feasibility and a business plan can then be sold to interested investors, firms, and interested

parties for a lump sum or a management contract, or as agreed. Business ideas, if introduced at

the right time, when demand for such service or a product introduced by the idea is expected tosurge, can lead to a very profitable business. Business ideas are always available through

different sources; however, it is the application applied on these ideas, and timing makes all the

difference in failure or success.


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1) STARTING A ORGANIZED SHOE REPAIRING RETAIL CHAIN

This is something we can go for, as there are no dedicated shops which repair branded shoes like

Reebok, Adidas, Puma, Nike etc. along with providing a little customized features to the

footwear.

ATTRACTIVENESS

Another reason to have a shoe repair and shoe care routine is your appearance . Do you want to

get ahead in the workplace ? A nationwide survey showed that 89 percent of business recruiters

rate good grooming as very important to becoming a senior executive. The most common

mistake for men, and the second most common for women, is unkempt shoes. On a personal

level, two out of three young female professionals say unkempt shoes suggest negative

characteristics about men in social situations. Half of the men feel the same about women with

sloppy footwear. The most frequent negative character traits suggested were sloppiness,

indifference to good grooming and to detail in general, and carelessness.

Shoes are a reflection of their owner's personality. That's what both personnel professionals --

who have been known to observe people closely -- and white collar workers (the people they

usually observe) said. Well kept shoes stand for professionalism, attention to detail, ambition,

efficiency, conscientiousness, organization, confidence and even friendliness.

Given the above facts this idea is attractive enough to start a business with.


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DURABILITY:

The idea of starting an organized shoe repairing retail chain is durable in the sense that certain

new features can be added like:

In addition to replacing soles and heels, here are some other footwear-related services you canfind at your local shoe repair shop.

Shoes can be stretched for increased comfort.

Shoes can be adapted to fit unique feet.

Heel tips can be changed from hard to non-skid rubber.

Heel savers can be applied to prolong the life of the heel.

Protective soles can be applied to prolong the life of the leather soles.

New Shoes

One can also visit the shoe repair shop with new shoes. Here are a few ways shoe repairers add

value to new footwear.

Protective soles can be applied to extend sole life and increase slip resistance.

Shoes can be dyed if a color change is necessary.

Shoes that are too tight can be stretched up to a quarter size.

Plastic heels can be replaced with slip-resistant rubber.

Shoes can be weatherproofed for added protection in wet or oily environments.


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More than shoes

The shoe repairers' expertise isn't limited to your feet. They can also:

Replace Zippers

Shorten belts

Repair luggage

Re-lace baseball gloves

Stitch handbags

Repair jacket tears

Refinish leather coats

Replace buckles

TIMELY

Since the target segment is more self-conscious and fashion forward so it is an appropriate time

to come up with a retail store providing such a service when there is no big commercial

competitor. Also the customers would get the facility of customizing their shoes according to

their favourite colors, attributes and other related repairs.


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VALUE FOR CUSTOMERS

Footwear isn't just part of the wardrobe, it is an investment. Spend your money wisely and the

return will be more value for your dollar, more comfort, better foot health and even a sense that

you are helping the environment. As with all investing, it is wise to have a counselor to make

sure your money is well spent and continues to pay dividends. In the footwear arena, that

counselor is your local shoe care professional.

Shoe repair and shoe care make sense for several reasons. First, shoe repair adds value to your

footwear investment.

Quality , well-maintained men's shoes can be resold seven to 10 times at a fraction of the cost of

new shoes. With new soles and heels, and reconditioned uppers, the shoes will look like new, yet

retain that broken-in, comfortable feel. It is not uncommon for a man to get 30 years out of a

good pair of shoes. Quality women's shoes can be resold three to five times.

Shoe repair can also alleviate a variety of physical problems . Worn heels will change your gait.

When you are not walking properly, your feet, ankles, knees, hips and back can all suffer.

Improper fit causes calluses, corns and bunions. Shoe repair shops offer stretching services and

fitting aids to alleviate those problems.


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2) ORGANIC FOOD BUSINESS

One must have heard about genetically modified organism or the GMO. One surely would have

heard about the possible effects it may do to the body. And with this concern, there is an

exponential increase of the number of people who are becoming more and more careful to the

type food they eat.

The organic-food business is booming: About 70 percent of Americans buy organic food

occasionally and nearly one quarter buy it every week, according to the Hartman Group, a

market research firm. For most of us, the reason is simple: We want natural food that's better for

us and for the environment

Since organic foods are 100% safe and clean, the market for this is growing at a fast rate.

Organic foods may have higher nutritional value than conventional food, according to someresearch. The reason: In the absence of pesticides and fertilizers, plants boost their production of

the phytochemicals (vitamins and antioxidants) that strengthen their resistance to bugs and

weeds.


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3) Customized Printed T-Shirts

My T-Shirt! is an exciting new business that allows people to custom design a shirt (specifically

the design on the front or back) any way that they would like. By intelligently leveraging cuttingedge technology, My T-Shirt! will harness the power of computer sublimation to allow custom

shirt printing in production runs as small as one unit. My T-Shirt! will have a storefront in

Seattle as well as a comprehensive website that allows ordering to occur anywhere.

Imagine the ability to create a totally custom shirt. You choose the material and style of the shirt,

and then the image or graphic you want on the front and/or back. This is the ultimate form of

expression. There are no limits to what you can communicate. Some people might show their

fanaticism for a particular sports team, others a musician. Or you might have a social message or

cause on My shirt. Whatever you may decide, you can print any image on my shirt.

Products

My T-Shirt! will offer customers a variety of options for creating their own custom shirts.

The majority of orders will be for t-shirts, however other style shirts will be available. My T-

Shirt! has developed a strategic relationship with Hewlett-Packard (HP) printer division. We

will use their printer sublimation technology that allows a computer image to be applied to a

shirt in a high quality, high resolution, economically feasible manner. This technology creates an

image durable enough to withstand thousands of washings. Its photo-like quality, due to

significantly higher printer resolution than anything on the market, will show off any image. The

technology is cost effective enough to offer customers the ability to order just one unit. Most

other competitors' costs prohibit printing custom shirts in one-off production runs. Finally, the

customer may choose from an extensive library of existing images, supply their own image, or

have an artist create an image for them.

Competitive Advantage

My T-Shirt! has a sustainable competitive edges to assist them in market penetration. The edge is

a enormous catalog of graphic images. By establishing strategic partnerships with companies that

have existing graphic image libraries, My T-Shirt will offer an unprecedented number of options.


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Objectives

To become known as the premier custom shirt sublimation service. Achieve profitability within 12 months.

Design and implement strict financial controls to help ensure success .

Mission

My T- Shirts mission is to offer the finest in custom shirt sublimation production. My T -Shirt!

will offer customers the best product at the best price. Customer's expectations will always be

exceeded.

Keys to Success

Leverage cutting edge technology as a competitive advantage. Exceed customer expectations by offering high quality products at reasonable prices with

quick turnaround times.

Employ careful financial and accounting analysis to ensure efficiency and propercontrols.


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4) An online retailing store for men wear

The opportunity: The advent of cable television, syndicated radio, and the internet has created a

world where a fashion statement in India will be on the streets in a matter days. Online retailing

of Mens wear will offer you ng customers, in big cities and small towns around Delhi, youth

oriented Mens Wear pr oduct and clothing that are popular nationwide. The key to success to

this idea is:

Accessible website that is easy to surf. Like a trip to your favorite store. An effective strategy for advertisement, the communities youth oriented business. Use of new technologies like 3D technology, virtual fitting room etc. Youths are more bound to use new technology.

Description of business: Online retailing of Mens wear will offer young customers, in big

cities and small towns around Delhi, youth oriented Mens Wear product and clothing that are

popular nationwide at a affordable prices.

The company will be called cavaliermen.in.


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Ranking Matrix of Ideas Idea Attractive Timely Durable Value to

customerTotal

SHOE REPAIRING RETAILCHAIN

4 4 3 4 15

CUSTOMIZED PRINTED T-SHIRTS

3 3 4 4 14

AN ONLINE RETAILINGSTORE FOR MEN WEAR

5 4 4 5 18

ORGANIC FOODBUSINESS

3 4 3 5 15

As per ranking given to the Ideas, An Online Retailing Store For Men Wear is the most

feasible idea.

The opportunity: The advent of cable television, syndicated radio, and the internet has created a

world where a fashion statement in India will be on the streets in a matter days. Online retailing

of Mens wear will offer young customers, in big cities and small towns around Delhi, youth

oriented Mens Wear product and clothing that are popular nationwide. The key to success to

this idea is:

Accessible website that is easy to surf. Like a trip to your favorite store. An effective strategy for advertisement, the communities youth oriented business. Use of new technologies like 3D technology, virtual fitting room etc. Youths are more bound to use new technology.

Description of business: Online retailing of Mens wear will offer young customers, in big

cities and small towns around Delhi, youth oriented Mens Wear product and clothing that are

popular nationwide at a affordable prices.The company will be called cavaliermen.in.

Vision

During the first year of operation we want to gain a good reputation, through affordable

prices, fast delivery and great customer service.

Accomplish a steady cash flow and long term business partners.


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Mission

To be a provide youth oriented quality products at affordable prices known throughout

India.

Target market:

Men 13-25 years of age : Youth drives the market so this is the important group to attract to the

website.

Men 26-40 years of age : They are the core group that will drive Cavaliermen Culture's

success. We will have to assure that the purchase will fit the way the customer wants it to. It

will be crucial that the return policy is hassle-free and speedy.

Lifestyle - The market mainly consists of students and young professional.

Income - Middle, Upper Middle

Management team: The firm will be owned by Aftab Alam and will be of sole proprietorship

in nature.

Organizational Chart


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Financial projections:

Statement of Financing Needed: Cavaliermen.in cost consists mostly of design and marketing.

It has Rs 10200000 in investment and Rs 3800000 as short term loan.

Funding:

Amount (in Rs)

Start up Expenses to Fund 4000000

Start up Assets to Fund 10000000

Total Funding Required 14000000

AssetsNon Cash Assets from start up 0

Cash requirement from start up 10000000

Additional Cash raised 0

Cash Balance on starting date 10000000

Total Assets 10000000Liabilities and Capital

Liabilities

Current Borrowing 0

Long term Liabilities 3800000

Account Payable 0

Other Current Liabilities 0

Total Liabilities 3800000

Capital

Planned Investment

Investor 1 5000000

Investor 2 5200000


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Other 0

Additional Investment Required 0

Total Planned Investment 10200000

Loss at startup 4000000Total Capital 6200000

Total Capital and Liabilities 10000000

Total Funding 14000000


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Financial Plan

Cavaliermen.in cost consists mostly of design and marketing. It has Rs 10200000 in investmentand Rs 3800000 as short term loan.

Money needed

Within the first year, including start-up expenses, I estimate that we will need approximately Rs14000000. This includes our one-time start-up expenses and our estimated expenses for our firstyear of operation. At this time, it is difficult to estimate expenses beyond the first year, as wewill adjust expenses on product purchases and the like based upon our first years sales/profits.

Start up RequirementsStart up ExpensesLegal 200000Stationary etc 50000Brochures 0Consultants 500000Insurance 0Rent 200000Leased office Equipments 1000000Computer Equipment 2000000Website 50000Other 0Total Startup Expenses 4000000Start up AssetsCash Required 10000000Start up Inventory 0Other Current Assets 0Long Term Assets 0Total Assets 10000000Total Requirements 14000000

The startup costs for my business are listed above, broken down into a variety of categories. Wewill require minimal office furniture and costs for space, as we will be operating from a homeoffice. Business cards and stationary will be necessary, but most of our communication andadvertising will be done online, as we are an online business (hence the high cost for advertisingand promotion). We will need to purchase goods at the start and we will need a sizeable

operating budget so that we can make additional purchases if necessary.


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Operation Plan

A variety of manufacture produce apparels, which are then sold to selected number of wholesalers from which cavalier mens wear, the online retailer purchases its merchandise.

These goods are then sold to the consumers by the retailer after taking license from different

brands like Levis, Numero Uno, etc .

The company will utilize latest technology like:

Use of ERP software

Virtual fitting rooms, 3D technology etc RFID

In marketing and selling of goods to the consumers.

business idea aftab

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