2. 1. Does the business have a strong USP? We bring fashion to environmentally conscious crowd It won’t be just for shopping bags, for people trying to get extra green points at Tesco – We need something more than just another tote bags We work to Include future customers for sustainable creativity Fashion items made by recycled material has been limited to concepts – we bring that concept to customers at affordable price We have unique designs, nothing will be exactly the same People who use our product will know that they are helping to save this planet Customers will be buying fashion items made by future fashion giansts - it will also help us get contributions or build ground to get good design products – for customers it will be a good investment strategy, like collecting art pieces
3. 2. Is the target market well understood? Our target will be women in their 20s who won’t be afraid to try new concepts We’ll also be creating future population who will be aware of environmental issues at a time when the issue is under focus Survey conducted at Penrhyn Road LRC, women in their 20s loved our products and are willing to spend money to buy even though materials are recycled – from responses from around 10 women
4. 3. Have key distribution channels been identified? Offline – Weekend markets, renting a stall at places such as Photobello, Reinbow, or carboots/ We can work with fellow classmates Online – Ebay.com / Amazon.com / gumtree.com / play.com / etsy.com / artfire.com / vastreet.co.uk(registered as business sellers), Facebook presence, setup our own online shopping site We will offer each customer a survey after each project completes. We will send hand-written “Thank You” notes to every prospect that comes to an initial meeting. We will send gift certificates(need to design) to all past customers good for £1 -5 off voucher to buy recycled bags. For loyal customers.
5. 4. Is the revenue model viable and clear? We provide tangible products, so if we sell it, it will be our revenue. Since we are using recycled goods, we don’t have financial burden, so what we sell is our sole profit except for fees and tax. Thus, as we sell our products, we’ll have immediate cash to reinvest in new business ideas.
6. 5. Have key business risks been addressed? Procurement – finding the right material for our design may not be easy If we become real popular, we need to hire more people. We have to expand our business. Our target audience can be altered if response lukewarm Currently we are very much dependent on one creative designer Since we are making unique designs our customers won’t recognize us like LV/Channel bags, brand image will be hard to build – thus, we’ll go for metal label, promote our brand name (marketing strategy is making people remember our brand name 3J+Z) Bags made of recycled materials is not a new market, but not widely practiced.
