Fashionista Point

Fashionista Point as the name suggest is the start-up manufacturing company that facilitates customers with the upscale clothing line. The business is primarily targeted towards the customers that ranges from the age of 20 years to 40 years. Fashionista Point not only creates new line of clothing however supports it with the help of commercial and advertising campaigns. The objective of the company is to strengthen its partnership through retailers by creating the brand awareness. Fashionista Point aims to market its line of product as the alternative to the current line of clothing and differentiating the business through marketing strategies, exclusiveness and higher brand awareness. The main message that is related to business is developing a line of classy, upscale and versatility. The promotional plan of the business is to diverse and include the wide range of marketing communications. Another objective of Fashionista Point is produce 40,000 units per month to operate both on the domestic and international level.  

The main mission of Fashionista Point is to offer a new look for its customers, from the finest quality of cotton and fabrics. Fashionista Point mission is to create an inventory of unique fashion products which can create value to each potential client’s wardrobe. These products would be manufactured in Tirupur and can be imported overseas to generate sales revenue and improve the experience of customers that consider higher fashion quality with high-end design of utmost importance. The mission of Fashionista Point is to be leader in the cotton clothing by providing customers with the unique and stylish apparel at the affordable price.  

Fashionista Point keys to success remains in the believe that it has correct fashionable line of clothing with the right people desiring to attract the loyal base of customers. Notably, it is the Fashionista Point business values that would assure success. With respect to providing complete line of higher quality products, Fashionista Point would provide its customers with unique products which would promote fashion specialized distributors to consider the company first while looking for original products.

Fashionista Point is the manufacturing unit of fashion clothing made from the cotton of best quality and latest trends. The company ownership is entirely based on the sole trader or proprietorship form of business. All the operations relating to the administration or marketing strategies would be conducted by the owner himself.  

The start-up summary of the business can be stated below with the help of tables. As the business is located in the enterprise zone of Tirupur, the property taxes on the property would be subsided for the first years of operations covered by the business plan (Armstrong et al., 2014). The owners and the general business managers would be accountable for maintaining the insurance that would cover the building expense and its contents along with the insurance that covers the business interruptions along with the death or injury himself.    

The Fashionista Point is the manufacturing unit that would be located in Tirupur India. The facility’s perimeter would feature the simple garden to offer comfortable working environment for the workers. Additionally, a 150+ foot water tower forms the centrepiece of the grounds immediately that adjacent to the manufacturing business unit. The venue would feature the supporting light of the tower following the sundown which would create a safe working environment for workers even after the sun sets in. In order to house the trading activities and manufacturing operations under the well-laid out premises to ensure that the economical working of plant and equipment is maintained.

Mission

Protection of plant and equipment against the hazard of theft, fire and headstrong climate. Supporting overhead equipment would be facilitated as well. The facilities would also include the materials handling devices that would be installed and used in the factories. The buildings would be designed in a manner that would fix up the arrangements of the material handling to strengthen the primary lines of production facilities (Armstrong et al., 2014). Furthermore, heavy equipment can be installed at the premises or fixed sound formation without creating a risk of vibrations. Better natural lightning and ventilations would be constructed on the premises to make sure that there are fewer obstructions for improved performance.

Fashionista Point would offer its customers with the higher quality of 100% cotton shirt, t-shirts, tracks, trousers and jerseys. This would make a total of five manufacturing line of products. Customers can have the choice of selecting from wide range of products they want to purchase namely from colour, quantity and sizes (Lees-Marshment, 2014). The shirts are manufactured on demand and shipped inside the 48 hours of order. The product would appeal to the consumers that are comfortable in purchasing through the internet, particular for those that are located in the domestic and international market.

In addition to this, Fashionista Point plans to employ a graphic designer that would assemble its products for the customers to create a set of unique designs for both online and in store facilities when it opens (Posner et al., 2015). Fashionista Point’s proposed business would include the but not restricted to production of dresses that are custom made, ready to wear, and youth collection.

Following the start-up fund is secured by the owner, the business would expand the type of clothing products accessible with the options of customization. The additional line of items which will include the manufacturing items of Fashionista Point are the fashion T-Shirts, and tracks, base-ball T-shirts (Baker, 2016). In addition to the fashion empowerment schemes for the less-privileged in the society, interior decorations would also form the part of business services. In upcoming time, the business also aims to increases its range of business to the fashion enablement products such as good quality of sweatshirts, sweatpants and athletic shorts.

The products of Fashionista Point would be priced at high end in order to reflect the better quality so that the exclusiveness is related with the brand. Fashionista Point would use the high-end materials particularly the blend of wool and high gauge denim (De Mooij, 2018). When the mark up is placed on the Fashionista Point products, the customers would be willing to purchase the premium products due to the perceived value and guarantee of quality that would be accompanied with the products. The products of Fashionista Point will be targeted in the direction of age group that would range from 20 to 40 years.

Even though the apparel industry is growing and maturing slowly, it exists in the dynamic and competitive environment. To enhance the profitability of the business, several companies are restructuring so that it can create leaner organizations and undertake newer technologies (Shank & Lyberger, 2014). Consolidations has been prevalent in this industry in the last few years with larger companies gaining leverage in terms of market position and reduced costing. In the apparel industry, companies can function as the retailers or the manufacturers or operate both. For instances companies such as GAP, Inc., a vertical line of retailer, produces and markets their own apparel accessories. Companies such as VG Corporation is both the manufacturer and sells completely to the retail channels.

Keys to Success

Operating in the modern day marketing where the consumers are flooded with advertisements and marketing campaigns delivering the onslaught of lifestyle and fashion messages the brand name is regarded as the powerful weapon (McDonald & Wilson, 2016). Brands have turned out to be increasingly vital factor in consumer’s choice of apparel and footwear. There are consumers in the market that have less time to shop and they are spending their disposable income in a cautious manner. Brands that are established with their excellence image that would make the spending experience easy and faster for several customers (Tricker & Tricker, 2015). For manufacturers, brands create customer loyalty, that translates into the frequent business and brand loyalty.

The name of the company Fashionista Point itself symbolizes competitive advantage. The name is not related or attached to a specific goods of customer and allows the business to enter into the different segments of industry (Morden, 2016). Another notable competitive advantage of the company is Fashionista Point marketing strategy. With the help of advertisement, brand promotion and giveaways, Fashionista Point aims to create its market presence. Even though the company would be using retailers to create its presence in the market, majority of the exports to both the domestic and international markets would be done through online mode.

Another notable factor that would make Fashionista Point clothing very unique is the adaptability of each unit. A large number of clothing unit can be worn during the day at work and the same can be used again for evening outing (Hyndman & Athanasopoulos, 2018). The clothes are designed according to the fashion needs of the people bearing their hectic fast-paced lifestyles. Furthermore, a large number of pieces from the manufacturing lines would be designed in a manner that will match the offering verities for just single pay (Moriarty et al., 2014). Customers would be more inclined towards purchasing numerous pieces from every emerging line of clothing and style behind the concept. In addition to this, free shipping of the company would serve as the added competitive advantage for Fashionista Point.     

The raw materials would be sourced from Tiruppur from the Indian state of Tamil Nadu. Tiruppur is the managerial headquarters of Tiruppur district and considered as the fifth largest urban collection of cotton in India. Negotiations is underway to create a direct relationship with the cotton suppliers at the manufacturing unit as this would help in further reducing the cost of transportation and significantly speeding up the process of production (Mankiw, 2014). The business would also receive the substantial discount from the local producers of cotton for the manufacturing of premium piece shirts, T-Shirts, tracks and trousers. As the part of the marketing contract with cotton merchants, the business would prominently feature its products in exchange of discounted fixtures.  

Fashionista Point will be governed by the Trade Mark Act 1940. The entire range of creations in the menu will be necessarily protected under the law. over the last few years’ technologies have advanced significantly in the textile industry (Alonso, 2017). Even though the original machines and their procedure are yet being used, the technologies have evolved more towards technologically advanced versions of patterns. Technological advancement in the area of textile industry was once regarded as the handicraft which has currently become sophisticated, scientific and engineering activity relating to new form of fibres.

Company Ownership

Fashionista Point would make use of the scientific and engineering activity by employing skilled workers to the manufacturing unit. The company would make the use of knitting machines to create knitted materials in huge swaths, rather than using long strips which is later coiled and stitched together (Villeneuve & Pasquier, 2017). The business would then use the pleating technology that would be carried out entirely by the machines without the need of labours. Laser printing would be used on the clothes such as shirts and t-shirts to create designs on the materials more quickly and using it more precisely. Sets of digital printing will be used on the clothes in the form of layered printing to translate the clothing that makes the designs appear more appealing in the eyes of customers (Hair & Lukas, 2014). The field encompasses different areas of the engineering particularly the mechanical, chemical, instrumentation and structural engineering. Apparel and the fashion technology, has turned out to be the technology in the textile industry for designing and marketing of garments. The business believes that the knitwear and process would help the business in changing in the bigger manner.

Technological aspects of manufacturing:

The manufacturing procedure of Fashionista Point comprises of the following steps that are listed below;

Procurement of the fabrics: The company would procure the fabrics from Tirupur based on the demand from the open market. The company would also inspect the fabrics that are procured by laying the them on to the tables against the light prior to cutting the fabrics in an uneven shade, colour or size and eliminating the visible faults in the fabrics (Burns et al., 2014).

Cutting and Stitching: The fabrics that are inspected is placed are placed on the cutting table in the form of layers and later the different parts of the respective garments are marked with the help of chalk based on their respective different sizes (Baumol et al., 2015). The workers would then carryout the work of cutting the fabrics with the help of machines. Following the cutting of fabrics stitching is carried out for a respective portion of the fabrics by the skilled workers by employing the overlock stich machines.

Washing, pressing, packing and checking: All the garments would be then charged to the washing machines which would contain mild detergent and washed for a maximum of four hours so that all the dirt contained in the garments are then removed and any stains thereof acquired during the process of manufacturing (Child, 2015). Following the washing of the garments, they are hydro extracted in order to eliminate the excess amount of water and following this the garments would be then dried in the tumbler dryer. Prior to sending the garments for packaging purpose pressing is done and then the packaging would be laid on the checking table so as any fault thereof are eliminated and protruding threads are cut down.

Quality control and standard: The quality of the garment is regarded as the important factor that mainly defines the products and the fabrics used. Therefore, it requires application of special care at the time of purchasing the fabrics so that the good properties such as colour and uniformity of the products is maintained (Gitman et al., 2015). Usually garments are made depending upon the specification of the customers in relation to the size, design and fashion. The Fashionista Point would install a quality screening machine that would help in ensuring that the good colourfastness of the product properties are maintained along with the uniformity in the shades.    

Start Up

Fashionista Point plans is to target the customers of all age group. Customers that fall inside the group, possess diverse background. The customers of Fashionista Point are versatile group that can fit in the environment and are willing to pay a reasonable amount of price for excellence quality clothing. Fashionista Point has numerous separate target markets that includes the individuals and business customers (Asghar et al., 2015). The target markets of Fashionista Point comprise of the college students, sporting teams and individual customers. The market is technically savvy and uses the internet for majority of the information and purchases. The secondary target market comprises business areas primarily both the domestic and international markets where the business can expand its brands with the help of extensive brand promotion.

Fashionista Point has plan of targeting the customers ageing between 20 and 40 years with the combined household income of greater than 20,000 INR. Within those group of people there are no barriers of colours with customers having diverse backgrounds. The customers of Fashionista Point are versatile that can fit in any environment and are willing to pay a higher price for the excellent quality clothing. The target of customers by Fashionista Point is believed to have the sufficient amount of disposable income to spend on the higher price quality clothing (Zhu et al., 2018). The disposable income of the customers grew at a healthy rate of 7.0% yearly. The consumer spending on apparel and footwear expenses have increased significantly at a strong rate of 2% in 2017. Though in 2017 census report suggest that the customer’s personal income has slowed down somewhat and so has the appeal expenses (Andrews & Shimp, 2017). However, from the year 2018-16 the disposable personal income of the customers increased at an average rate of 4.8% whereas the apparel and footwear expenses grew by 4.6% each year.

Findings from the study suggest that the apparel segment of men attained large amount of growth in spending that are mainly driven by the yearly household income of greater than 25,000 (Daramola et al., 2014). Spending by the customers in this segment has increased approximately by 13% from 2008. Furthermore, the sale of men’s apparel at the department stores as well as off-price retailers increased by double digit rates in 2016.

With the increase in the commercial production of cotton, Fashionista Point is increasingly looking forward to expand in the overseas market for growth opportunities. The American brands are translating well in the overseas market and several expanding economies internationally are keen on purchasing the American products (Trehan & Trehan, 2014). Furthermore, international business has increasingly been the focus of Fashionista Point so that it can expand its customer base and increase the brand image among its targeted customers.  

The market segmentation strategy can be defined as the procedure of dividing the customers under the different categories depending upon the distinctive characteristics. The motivation behind the Fashionista Point market segmentation is that it would assist the owner in recognizing the customers that are most likely to purchase their products (Crespo-Almendros & Del Barrio-García, 2016). Fashionista Point would primarily create an emphasis on the demographics, personalities and needs while segmenting the market. This would allow Fashionista Point to better reach the non-purchasing customers and customers through the help of advertisement and other marketing efforts. The market segmentation strategy would further help in segregating their clothing products from the vital customers (Hackley & Hackley, 2017). Fashionista Point makes the use of several type of market segments that are used in the clothing market and these are as stated below;

Company Locations and Facilities

Gender-Based Segments: Fashionista Point would make the use of gender based segments. This would include both the men and women. The clothing lines may include the casual shirts and trousers for both the men and women (Shiraki et al., 2014). The clothing items are generally contingent upon each season. For example, men shorts, would be mainly sold by Fashionista Point during the spring and summer season.

Age-related Market Segmentation: For Fashionista Point age is viewed as the distinguishing factor or the demographic that would help the business in ascertaining their purchasing audience. Fashionista Point as the part of age-related market segmentation would target teenage girls with that have trendy fashion lines, such as t-shirts and trousers (Shrestha, 2015). These kind of products are usually found gaining market in the late July and August prior to the commencement of the college years. The entire group of teenagers portray a different viable purchasing group in the clothing sales (Beard, 2016). Fashionista Point would exclusively place its focus on this segment.

Geographic Segments: Savvy customers and retailers understand that the clothing preferences vary in different segments or geographical parts. Furthermore, the main determining factor is weather (Hutter & Hoffmann, 2014). Customers that live in the warner climates wear shorts and t-shirts for longer time period. Contrarily, the market for coats and jackets is higher the colder parts of the country. The trend for clothing tends to change by geographical regions. Fashionista Point would manufacture clothing line for high fashion apparel only for sell in the exclusive markets.

Behaviour-Related Segments: Consumers choices in the products, together with the apparel might also be related to the behaviour segments for Fashionista Point. The customers may purchase the clothes of small manufacturers clothing line for the prestige (Yazdanifard, 2015). The customers may shop from the certain clothing stores for the better quality, services and other factors that might create an appeal to the behaviour related segments. Therefore, Fashionista Point would manufacture products for the behaviour related apparel.

Lifestyle Segmentation: Lifestyle Segmentation is another mode of creating a market segmentation strategy for the Fashionista Point. Fashionista Point manufacturers tracks for the sporty apparels to meet the needs of the customers and their lifestyle (Kumar, 2016). Opinions might also play a vital role for the Fashionista Point to manufacture the Jerseys and tracks that are more sensitive to the lifestyle clothing.   

The cotton plays the vital role in the Indian Economy as India’s textile industry is predominantly based on cotton. India is regarded as the one of the largest producers of cotton producers along with the exporters of the cotton yarn (Aminiroshan et al., 2014). The Indian textile industry contributes significantly around 5 per cent of the India’s gross domestic product, 14% per cent industrial production and 11 per cent to the exports earnings. The cotton industry is also the second-largest employer in the country following the agriculture, offering employment to over 51 million people directly and indirectly around 68 million people together with the unskilled women (Familmaleki et al., 2015). The textile industry is anticipated to reach around US $223 billion by the year 2021.

Products

In India the total production of cotton stood 33,915 thousand bales of 170 kgs each. The total value of textiles and apparel exports from India accounted for US $37.85 billion during the year 2017-18 (Nederkoorn, 2014). During the year 2017-18, the total cotton yarn exports stood 1,097.39 million kilograms. During the year December 2017, cotton fabrics, cotton made-ups and handloom products expanded by 0.38 per cent as the industry stood US $938.57 million up from the US $935.05 million in December 2016. The cotton textile export promotion council takes part in the national and international events to improve the visibility of the Indian products through advertisements, fashion magazines and other media vehicles (Malik & Sachdeva, 2015).

The Indian appeal market can be regarded as the highly competitive market, particularly after the big retail stores and chain of international brands that enter into the market. The Indian clothing market is shifting from growth to maturity (Kumar et al., 2017). The clothing business has witnessed a growth of $167,934 million in terms of retail sales with the shares of teenage fashion yielding 7,082 million. As per the research carried out the findings suggest that majority of the multi-store clothing chains has witnessed a fall in sales for the first part of 2017. Nevertheless, they witnessed an improvement towards the end of the year with an upward rising trend on Constanta basis (McAlexander et al., 2016). The retail industry of clothing continuous to represent a weak but positive signs of growth. Even though the apparel industry is mature and representing a strong growth, it is present under the dynamic and competitive environment. In order to enhance the profitability, several fashion companies have restructured themselves towards the learner organizations and adopt the new technologies.

Consolidation is witnessed in this industry over the past few years since companies that are large in size gain leverage in the market position and cost cutting in the industry, companies can function as the retailers, manufacturers and wholesalers or both (Cross et al., 2015). For instance, GAP being the manufacturer, markets are own apparel and accessories and also sell them to the retail channels.

Product Description	Sales ($mn)	(Industry Sales %)
Women’s wear	64357	38%
Men’s wear	28974	17%
Footwear and accessories	28785	17%
Jewellery	20957	12%
Children’s wear including boys and girls wear	12846	8%
Other	12015	7%
Industry Total	167934	100%

Table 1: Table representing sector wise product description

Source: (Bruwer et al., 2017)

Figure 1: Figure representing Sales of Sub-Sector

(Source: As Created by Author)

As evident from the above stated table, it is understood that the different indicators are presented in the comparison with each segments. The sales per capita and establishments per million residents increases dramatically with the sales representing immense growth in the sales.

Retail Description	Industry Sales %	Industry Sales
Specialty Stores	55%	7082.2
Discounters	12%	1485.26
Department Stores	10%	1341.62
Major Chains	9%	1215.03
Off-price stores	4%	505.75
Mail Order	3%	434.92
Outlets	2%	273.58
Others	4%	495.75
Total Sales	100%	12834.11

Table 2: Table representing Market share per Business Types

(Source: Dibb & Simkin, 2016)

Figure 2: Figure representing Market Share per Business Types

(Source: As Created by Author)

The above stated table represents the market share per business types and if a viewed closely majority of the shares is taken by the speciality stores. Shifting the demographics towards the new entrant the market becomes tremendously competitive (Aghdaie & Alimardani, 2015). Big clothes manufacturing chains have started penetrating into the market. Sales have continued to experience growth which can ultimately help in amplifying the demand.

Product Description

The fashion industry goes beyond the simple clothing to express the identity, creating wellbeing, embracing creativity and connecting the global communities (Hemsley-Brown, 2017). Fashion in India, has always been regarded as diverse, reflecting many ethnic groups, religions and cultures. Recently, the Indian fashion industry has expanded with more participants, exposure, structure and presence.

Majority of the start-up consider expanding after learning few noteworthy lessons. This includes the assurance of not releasing any poor products which might sink the company or take poor decisions that may result in releasing poor products (Solomon et al., 2014). Bearing this in mind, majority of the start-ups places an emphasis on producing one product at one time, that might be their only product for the first few years after starting business. However, there are certain advantage and disadvantages of producing one product. For start-up companies it might be sensible of staying focus on one product, whereas others may be happy or more successful if they sell multiple products.

The advantage and disadvantage of selling one product are as follows;

Focus: Producing one product may allow the manufacturer in focussing the creation of one amazing product (Solomon et al., 2014). Without being distracted from the administrative work and selling of numerous goods, the producers obtain the opportunity of offering and making better products in the market. It enables the manufacturer to have a sharp focus on the marketing tactics in picking up the raw materials of best quality to marketing channels of higher standards and sourcing the traffic that would quickly convert satisfied customers.

Being Niche: Producers that manufactures only one product can place their focus on targeting one type of customers which can help them in rapidly developing their products (Xiang et al., 2015). This would help in avoiding unnecessary splitting of efforts towards multiple channels.

The disadvantages of selling one product:

No-Cross Selling: When the producers have only one product, they can multiply their revenue by cross-selling the complimentary goods to the beforehand existing base of consumers. However, companies that are selling only one product cannot easily sell more copies of the same product (Loveland, 2016). Even though some clever businesses partners with the other company’s complimentary goods but that can be a complicated relationship and may not generate more amount of sales revenue.

Reduced repeated customers: Unless the producers regularly innovate the product and update their product offering or making it drastically different from the previous one, it would be very difficult to incentivise the customers to return (Zhang & Benyoucef, 2016). This would result in limited revenues.

Limited marketing opportunities: A business can surely sell single product and live comfortably but it would be hard to find the marketing opportunities (Stephen, 2016). To reach the full market capacity, the producers should indulge in the general marketing tactics that is very much expensive and ineffective.

The modern day factory system, with the help of extensive usage of machinery and labour division is accountable for large scale production.

The advantages of producing large mix of products is stated below;

1. To provide a wide variety of products and services in order the support the original product. The producers can offer large amount of products and service which would enable the customers to remain engaged in more than one product (Godey et al., 2016). Offering a wide range of products would help in supporting the actual product. The producers might provide a wide variety of pots and vases for the product arrangements to that the customers can spend large amount of time in one visit.
2. Producing a large mix of products helps in providing a different target for the producers. An electrical store may commence selling computer games and gaming consoles in order to attract younger customers that would not normally purchase lights and plugs (Juster, 2015).
3. The producers sell several products so that it can diversify the sales if the original products sales fall. Therefore, increasing the sales of the new products may help in replacing the products (Lantos, 2015). For example, selling of confectionary shops would help in selling the quality chocolates that possess seasonal demand can commence offering homemade ice creams, both of which have stronger sales during the different phase of year.

Competitive Advantage

There is certain disadvantage of producing several products that are as follows;

1. Selling of wide mix of products requires the employment of several managers to take decision of a products (Bamossy & Solomon, 2016).
2. It is noteworthy to denote that the poor publicity of one product might harm the entire image of the company.
3. The cost involved in development and sale of several products may result in higher price of the products.
4. There are some products that might fail if the company does not have the sufficient amount of market research.
5. A large mix of products or producing unit may find it very difficult to switch from one type of product to another. During the time of depression, firms that are small scale might shift away from declining trades to the flourishing trades (Zhang, 2015). In such a manner these firms are successful in avoiding the losses. Therefore, there is a lack of adaptability for large mix manufacturers.

The legal obligations in India is very much stringent but it is enforced poorly. Even though the policies are good enough by considering the Indian conditions, the standards should be revised for the numerous amount of wastes that is generated (Reny, 2015). According to Textile Committee Act 1963, it provides that the establishment of the committee must assure the quality of the textiles machinery and matters that are related thereon. Furthermore, with reference to the powers that are conferred by the Section 22 of the Textile Committee Act 1963, the central government of India made the Textile Committee Rules, 1975.

The legal obligations include the enhancement of the scope of section 80JJAA of the Income Tax Act. The amendment that is made under the section 80JJA of the Income Tax Act for the garments or textile industry requires the employment days to be reduced from 240 days to the 150 days for the textile industry to obtain the benefits of deduction (Mandel et al., 2017). According to the Section 80JJA of the Income Tax Act, the manufacturing industry is considered eligible for claiming additional amount of deduction that are equivalent to 30% of the emoluments of the new employee with the emolument of lower than Rs 25000 per month that are employed for a minimum period of at least 240 days in the year.

If the garment industry accounted for Rs 1.15 lakh crore of exports, a refund of the state levels stands Rs 1600 crore on the yearly basis it would result in the benefit of nearly 1.5% of the garments exports that are significant in respect of the operating profit margin of 9% for the textile industry (Samiee et al., 2016). Furthermore, the technology upgradation fund scheme was presented by the government where the scheme introduced new and relevant technology so that the textile industry becomes competitive internationally. The Technology Upgradation Fund Scheme also allows the producers to reduce the cost of capital for textile industry. The recent that have been made in the industry regulations are anticipated to take out the loopholes in the previous schemes and advance the ease of conducting the business. It would also provide boost to the generation of the employment and exports in the textile industry in a large way.

Following the end of the restrictive Multi-fibre Arrangement (MFA), a type of international trade pact on the textiles and clothing which was in practice from the year 1974 to 2004 imposed limits on the developing nations that could exports yarn, fabrics and clothing for the development of the country, given that greater opportunity is provided to the exporting nations such as India (Bradford et al., 2017). The ministry of textile has now been proactively busy in stitching together the measures of facility to impose boost in the textile industry for the both the domestic consumption and overseas exports.

In an attempt to make the exporters of textile feel that they are not subjected to any kind of taxes that cannot be exported according to the global norms, a new scheme known as Scheme for Rebate of State Levies on the export of clothes has been imposed (Ajzen, 2015). This implies that the levy of tax made by the exporters that are not refunded to the exporters shall be refunded under this scheme. The scheme is currently above the present levy drawback scheme relating to which the exporters are reimbursed for the tax that is borne from imports on inputs for the export production.

Conclusion

The government has also introduced the Schemes for the Integrated Textile Perks (SITPS) which was introduced few years before but the scheme has recently made unobtrusively rapid pace in the recent years. The main aim of the SITPS is to boost integrated value chains with the premium class infrastructure for the probable growth centres to enable them in leading position by helping the textile sector to realise the full capacities (Aviv et al., 2018). The scheme is directed towards addressing the constraints in infrastructure on group basis and enabling the industry to meet the international environmental standards, aiding added investment and producing employment. The scheme can be considered industry oriented and with the limitation in the role of government towards partial funding and facilitation.

Recently, the schemes have assisted the equal investment by setting up parks with the production of units and mutual facilities of infrastructure. The state government is also engaged in the selection process and for numerous clearances to set up the perks (Funk et al., 2016). As a general, numerous ongoing schemes and the strong policy intervention would assist the domestic industry to make sure that the integrated advancement is made in all the variegated branches of cotton handlooms, handicrafts and technical textiles for moving forward.

The numerous environmental legislation and the regulations in dealing with the protection and enhancement of the environment is vital for the Indian industry. There are no particular laws relating to the environment for the textile industry sector (Engel et al., 2015). Nevertheless, there are specific industry specific standards where the textile industry is under obligation of complying with the setting up of industry and operational industrial unit. Therefore, the regulatory authorities such as Ministry of Environment and Forests along with the Central Pollution Control Board at the central level and state pollution control board at the state or domestic level enforces the regulatory requirements.  

The Indian textile industry is getting flooded by the imported material and it has turned out to be a concern for the SMEs that are operating in the sector. The export incentives have declined and similarly the time import barriers have gone down that has led to increase in the import by 20% (Bossuyt et al., 2016). According to the reports, the exports are declining every month. A fall in 3% of the CAGR in the textiles and apparels during the month of December in the previous year in comparison to the corresponding period of 2016 has been reported. The exports have declined to $2996 million during the year 2017 against the $3075 million during December 2016 (Jones et al., 2017). The effective GST on duty on fabric currently stands 5% but due to the non-refund of excess input tax credit under the reversed structure of duty, it eventually adds up to 8-9%. This would make up the loss in import due to the only pay of 5% in GST. The international apparel market size is anticipated to reach $2.6 trillion by the year 2025 (Couture et al., 2015). The main drivers of growth in the international apparel market would be the developing countries particularly India and China as both the country is growing in double digits.

India’s larger domestic demand is coupled with the increase in the spending power of the people in the two countries that would result in combined addition of approximately $500 billion in the international market (Mittal, 2015). As compared to all other nations, India is regarded as the largest and resourceful nation that has the capability of making sure that maximum advantage is gained due to the higher base of textile, manpower and infrastructure availability. However, India is yet to make best use of its potential as far as the exports of apparels are considered. For India to seize this opportunity, there is a need for large scale structural changes in the policy framework that starts from the refining of labour laws to the exit policies to speedily track the process involved in approval.

The total amount of textile and apparel exports in India accounted for $40 billion during the year $40 billion. Apparel is regarded as the biggest export category of India as it has the leading share of 43 per cent. It is later followed by the exports of the other category that comprises of domestic textile products, made-ups and handicrafts (Shafritz et al., 2015). Other category that contributed to the share stood 25 per cent in overall textile and apparel exports of India. Fibre category has registered highest amount of growth in India with the export of textile and apparel stood 13 per cent of the CAGR. But in the recent years the exports of Indian textile have declined.

The European union and US is regarded as the largest markets for Indian textiles and exports of apparel with the shares standing 19% and 18% respectively. The other major exports market for India is UAE, China and Bangladesh that have the share of 9% and 8% respectively (Carley & Prietula, 2014). India is regarded as the largest textile manufacturer and it is among the very few nations that have the production facilities all through the level of manufacturing value chain from the fibre to the finished products garments such as home textiles and technical textiles. The Indian domestic market has done a better job than the largest consumption nation such as US, EU and Japan where the depression in the economy has resulted in slower growth in demand.

The main drivers of the growth in the domestic market in India is the existence of large and growing class of consumers along with the increase in the spending power of the customers. Currently the Indian textile industry is considered to be less attractive destination for making investment because of the barriers that is faced by the Indian companies in the international markets such as higher cost of inputs and lower margins (Young & Ghoshal, 2016). The Indian textile industry is unable to develop the higher quality products particular in the synthetic textiles. Unlike the garment sector, India is required to develop strong abilities in the production of multiple products that have the higher demand in the export market. To attain the higher level of performance, Indian textile industry should raise the performance of the machinery, procedure and skill training of the manpower. Therefore, India should develop its product and services to meet the increasing international export market potential.

The textile industry is the market where the customers are engulfed by commercials and marketing campaigns that delivers an assault on the lifestyle and style messages. Fashionista Point has the powerful brand name as the weapon. In the modern age of marketing brands have turned out to be increasingly noteworthy factor in the apparel and footwear. There are large number of customers that does not has the time of shopping and they are spending their disposable income in an accurate manner (Dmitrievich et al., 2015). Brands that are established that has the quality image makes the experience of shopping easy and faster for several customers. For Fashionista Point, brands help in creating the customer loyalty that relates in translating the customers in repeated business. Fashionista Point competitive advantage is the marketing strategy. The business would also make the use of advertisement, promotion and free gifts which would ultimately attract the customers. The advertisement and the promotional strategy would help in developing the market presence. Even though the company makes the use of retailers to sell its line of products majority of the marketing and advertisement is done by Fashionista Point through in-house basis.

The competitive edge of the company remains in the factor that it has opportunity of versatility in every piece that it makes. Majority of the clothing that are manufactured by Fashionista Point is created according to the taste of customer’s fashion needs bearing in mind that the customers have a hectic fast-paced lifestyle (Robbins & Judge, 2014). In addition to this, numerous pieces from the clothing line is designed to match the offering of customer expectations. With wide variety of product lines, the customers would more inclined to purchase the wide variety of clothing lines manufactured by Fashionista Point at a reasonable price to suit the convenience and style behind the concept. In addition to this, Fashionista Point has the biggest competitive advantage of free shipping for its customers.

Fashionista Point has the believe that is has the correct fashionable lines of clothes and has the appropriate people that have the desire of attracting the loyal base of customers. However, the most important thing is that, the business philosophy of Fashionista Point would assure success as well as long term growth (Ingram, 2015). The demands of fashion and retail industry products is believed to be in line with the higher quality execution. With respect to these demands, Fashionista Point would aim meet the demand of customers by preserving a greater level of inventory which would be delivered within the specified time based on the pre-arranged schedules of shipping.

Apart from offering its customers with the complete line of products Fashionista Point aims to provide its customers with the unique trend of products which would encourage fashion particularly the distributors who would think first of this company when looking for the original products. The values that drive the Fashionista Point to remain committed to its business is “Life”

L = Leadership by Examples

I = Transparency and Integrity

F = Fairness

E = Excellence

Figure 3: Figure representing Value Proposition

(Source: As Created by Author)

Fashionista Point aims to create a sales team that would be assigned with the responsibilities of producing sales leads based on the regional, national and overseas basis. The sales team would be accountable for creating connections with the domestic retail outlets (Kwasa et al., 2015). The main factor that would be involved in the success of the Fashionista Point is the channel of distribution. Fashionista Point strategies of boosting its sales is using the plan of retail distribution channels;

• Departmental stores
• Apparel Specialty Stores
• Internet Stores

In the recent years, a large number of retail chains especially the garment sector has developed the formats that are known as superstores that have more square footage dedicated towards the specific category of products.

Customers purchase clothes and apparels from wide variety of retail outlets. The industry analysis conducted suggest that the discount, off-price and stores of factory outlet have reported approximately 30% of the apparel sales where department stores have accounted around 22 per cent, specialty stores reported 18 per cent of sales and majority of the retail stores have reported 17% sales (Kanten et al., 2015). The remaining amount of 13% of sales was made through the mail order and other means.

Nevertheless, there are differences that is available in the distribution mix for women, men and items of teenagers. For instances, majority of the women apparel is bought from the specialty store and department stores than in case of the men’s apparel. The apparel for men is mainly prevalent in the discount stores and the general chains of merchandise. On the other hand, the segment for teenagers is considerably higher than the portion of clothes that is purchased from the discount stores.

Another important method of sales strategy that would be adopted for the Fashionista Point is the catalogues. As understood the customers hardly has time to shop, and for some of the customers, catalogue shopping provides more convenient to the customers with pleasant alternative. It is projected that 13.3 million of direct mail catalogues were printed in India with more than 50 for each man, women and children in the country (Thies et al., 2014). As per the research, around 6 per cent of the clothing retail stores were achieved through the direct mail/catalogues during the year 2017.

In the recent stud it is found that the channel of distribution has received large amount of attention from the internet. Even though it presently offers a small proportion of the clothing sales. It is noteworthy to denote that the internet mode of distribution channel has the highest potential of growth. Customers often prefer the convenience of being able to shop from everywhere and anytime period when they desire (Ashkenas et al., 2015). Manufacturers that has their own website can use it for marketing and for informing the customers. With the anticipated advancement in the technologies particularly in the hardware, software and data pipeline in future, shopping for the apparels must gain the popularity.

Presently due to the limitations in the technological and infrastructure, customers are currently not content with the speed, quality of services and cost of shopping through online mode. Another interference to the wide acceptance of the fact is that the customers does not has facility of physically touching the product (Egeberg et al., 2016). Even some of the manufacturers have begun selling directly to the customers on the Internet, there are many manufacturers that are cautious and does not want alienate with the retail customers. Fashionista Point anticipates to create an appropriate channel of distribution that would form the root to the distribution channel and strategy of business.

Sequential Activities/ Period	Week 1	Week 2	Week 3 &4	Week 5 & 6
Formation of the key idea linked to the business, market, stocks and finances	ü
Planning the agenda of the trade together with the conclusion of Business details, Registration details, Business premises, Organization chart, Management & ownership, Key personnel, Products/services, Innovation, Insurance, Risk management, Legal considerations, Operations and Sustainability plan		ü
Gathering of the obligatory statistics associated to market study and market objectives		ü	ü
Explanation of the data in terms of the vision statement, mission statement, action plan, goals and objectives			ü
This section of the trim line aims to cover the details of the various types of the topics which are seen to based on key objectives & financial review, Assumptions, Start-up costs for 2019 Balance sheet forecast, Profit and loss forecast, Expected cash flow and Break-even analysis				ü

Marketing strategy is vital for all the business start-ups however it is of greatest importance for the start-up business. Until and unless the consumers knows about the start-up and what actual a business offers, they would not probably purchase the products and services. Fashionista Point would focus on the marketing strategy by following the below listed key mediums which is listed below;

1. Exclusive fashion shows venues: The company would be attending and exhibiting its products in the bigger pre-collection fashion show venues (Mathur & Nair, 2015). Along with the yearly industry fashion show Fashionista Point would also showcase their line of products at several other fashion shows or fairs. Such exhibition at the exclusive fashion shows would help in building the brand as well as designs to the potential retailers and boutique purchasers.
2. Celebrity representation: Fashionista Point would also propose the usage of certain key items to suit the likes of celebrity stylists and handlers which would further help in promoting the company’s quality of products and its designs.
3. Fashion look book: For Fashionista Point, the most outstanding method of connecting with the probable clients on the personal level is the fashion look book. The book wold allow the clothes to be presented to the customers based on personal basis through the internet forming as the most used channel of shopping currently. There are large number of customers that does not reside in the bigger urban cities where fashion has bigger existence (Thompson, 2017). Therefore, the fashion look book would reach those potential customers that look for the original quality of high end products. This kind of sales strategy would help in keeping the people in loop when it comes to the introduction of the new products that would be presented by the Fashionista Point.
4. Marketing and public relations: Another selling strategy that would be adopted by the company is the hiring of professional persons or firm to remain in connection with the fashion magazines particularly the FAB, Complete Fashion and WOW. These fashion magazines would helpful in introducing the new collections and increasing the visibility among the Fashionista Point target markets.
5. Word of Mouth: The word of mouth is regarded as the greatest compliment for a business and can also obtain referral from the business partners as well. As Fashionista Point is a clothing line of business it is usually aimed in the direction of quality and exclusive products. As a result, there would naturally be the widespread of word of mouths regarding the products that is used by somebody.  
6. Posting on Social Media: Studies conducted have suggested that the around 2.4 billion people are using the social media, therefore it is necessary to include this channel in the start-up business as the noteworthy strategy of marketing (Hatch, 2018). Fashionista Point presence on the social media grows when more number of people would witness and identify the brand. In addition to this, majority of the social media networks along with the Facebook, Twitter and Instagram allows the business to promote their products for creating brand awareness. Fashionista Point would engage in the relevant social media post which would help in encouraging the customers to purchase the products and simultaneously responding to the questions and comment.

As the sales promotion strategy the business would make the sales call and would also distribute the marketing broachers with the discount coupons in the local areas and local in-house teams. The company would also offer the limited time discount of 10 per cent to the customers that place their first orders of greater than 5,000.

Apart from using the direct sales effort, apparel agents would be hired based on commission basis to wear and promote the Fashionista Point by hanging out the discount coupons by wearing the Fashionista Point brands shirts at major events in the business promotional area (Burke, 2017). Such kinds of events would include the college freshman orientation, professional sporting events, openings of restaurants and other venues where the target market of the Fashionista Point would be gathered.

As it has been referred in the previous instances, Fashionista Point Advisory council is treated as critical component of its direct, indirect and promotional sales. The sales promotion strategies would be composed of 10 to 15 areas of college students and fresh graduates that represents the target demographic. The advisory council would be providing the product input and promote the products with the help of their social and media activities. Furthermore, it would also assist Fashionista Point to expand its brand directly in the in-house teams to ultimately define the social consciousness of the business.

All the members of the advisory council would also receive the Fashionista Point branded shirts to test and wear the shirts with the 25% discount on the purchases as well as compensation for investing their effort and time. Fashionista Point has restricted marketing budget, early promotional activities would take the benefit of open social media together with the Facebook, Twitter, LinkedIn etc to drive the clients to the website with the help of messages and special offers (Ishkov, 2014). Information regarding the social networking activities and event sponsorships appearing on the websites of the company’s home page and its blogs would be made available for public readings. The company believes that its efforts in social awareness and the projects are treated as the perfect messages to remain dependent through the electronic media.

Fashionista Point plans to launch the e-mail campaigns to the school’s administrators, members of the chambers of commerce and coaches. Locally, the company would be providing initial discounts to most the high schools and colleges located in the area to target all the in-house sports team and suitable businesses (Robson et al., 2017). In addition to this, the company would be purchasing the banners and ads on the websites of school and colleges.

Fashionista Point brand would further define its product quality, relationship and value that are represented for their best advantage. The website of Fashionista Point would provide an explanation of the company on its websites by explaining the environmental benefits of wearing the clothing lines of Fashionista Point (Beatty & Liao, 2014). The sales promotion strategy of Fashionista Point would take a notable step towards using the paid promotion strategy in order to optimize the search engine optimization marketing tool namely the Google Adwoods and Adsense. Fashionista Point would additionally use the Google Analytics to keep track of the effectiveness of the brand promotion efforts and expenses.

Finally, the Fashionista Point would be taking into the account the Advisory Council to provide the company with the good socially conscious projects to sponsor which is relevant for the students (Henderson et al., 2015). These projects would form the basis of ongoing publicity campaigns. When the stores will be opened, the company would propose to hold the Grand Opening event which will help in attracting the customers.    

The business is dependent on its alliances with the Advisory Council, retailers, fashion magazines and partnership with other social media channel to promote the business. The sales promotion techniques would continuously generate the new promotional activities. Therefore, the owner of Fashionista Point would make its effort to assure that the personnel of the strategic alliance are particularly conscious of its sustenance and correspondence.

The business initial running would be offered by the owner himself. The experience of the owner has been drawn from the involvement and passion in designing the apparels beginning from the time when the owner was the fashion trainee. The owner learned and understood the ropes of business together with the pattern of creating and sewing (Macve, 2015). The owner or in other words the CEO would be handling the outsourcing, manufacturing, accounting, trade shows assistance. The owner of Fashionista Point would also hire the necessary relevant personnel based on the demand relating to the products and services as and when it grows.  

The organization structure of the business would comprise of the management members that would have relevant experience and qualification. These includes the following;

• CEO and Non-Executive Director
• Regional Manager
• Financial Manager
• Marketing and Administration Manager
• Quality Control Professionals Regional Head

Organizational Chart:

Figure 4: Figure representing Organization Structure

(Source: As created by Author)

It is noteworthy to denote that the Fashionista Point would be entirely owned by the owner and would also occupy the position as CEO of the business.

The management philosophy of the Fashionista Point is entirely based on the accountability and mutual respect. Fashionista Point has the environment and structure which would help in encouraging the productivity and respect for each of its customers and fellow employees (Hoskin et al., 2014). The personnel plan records expansion of the organization to approximately hiring 15 employees as the start-up. The business would be hiring the full time workers for around 135 hours of production operations each week. If any kind of additional hiring requirement arises then the owner would hire the part time workers that would be devoted to the expansion of production functions along with the increased capacity of the operations when the demands for the cotton products soars higher.

The management team of the Fashionista Point would include the combination of experienced executives that have the extensive backgrounds in administering and developing the successful business within the textile industry (Khan, 2015). The business currently plans to hire two senior executive and it is in the process of hiring the support staff as well that would be involved in the designing of site, media programs and business development. On attaining the first phase of funding, Fashionista Point would be hiring the full time staff so that it can completely function its business as and when outlined under this plan.

Personnel Plan	Year 1	Year 2	Year 3
Wages and salary for three month	3,00,000	3,60,000	4,50,000
Accountant fees	15000	16500	18150
Staff training cost	19500	19500	20500
Total Payroll	3,34,500	3,96,000	4,88,650

The experience of the proprietor in the logistics management in tailoring and decorating the firms for the for the period of two years that gives the business with the much needed management experience. The CEO of Fashionista Point presently assumes that all the functions inside the business makes all the decisions (Hoskin et al., 2014). Fashionista Point would seek the advice of fashion designers in designing the clothes as well. In addition to this, the Fashionista Point would also take the advantage of the Abuja Incubators Program that provides the new companies with the advice for mentoring and managing the training programs of the staff workers during the start-up phase to lower down the risk of failures.

The CEO of Fashionista Point is in the path of creating an advisory council that would comprise of freshly graduates from the fashion colleges to study the behavioural trend in the target market. The advisory council which the business aims to create would held the meeting in the quarterly basis (Barth, 2015). The main function of the Advisory council would centre around offering the product input and assist in promoting the Fashionista Point special events through their own social media activities. The advisory council would also help the business in expanding its directly among the public and advise the CEO on the appropriate grounds of social consciousness activities for the support of the company.

The company here also expects hiring next key employees within the span of two years. He or she would have the qualification in the graphic design or any equivalent degree in the graphic design to work experience. These key personnel would help in serving the company’s graphic designer and assistant production manager (Trotman & Carson, 2018). The graphic designer would help in creating its own unique designs. The designer would also help in expanding the business to offer the customers with the wide range of designs through its website. The graphic designer would work closely with the advisory council and CEO to ascertain the best designs in order to appeal the Fashionista Point target markets. Following the three years of operations, the company would hire more production staff and sales as and when required (McLaney & Atrill, 2014). The philosophy of the company is entirely based on the mutual respect and excellence. Fashionista Point would promote an environment and internal organization structure which would encourage the productivity and respect for the customers and fellow employees.

Fashionista Point is looking forward the substantial long term business investment for the purpose of creating and marketing the wide range of clothing products. The funding would cover the operating expenditure and the product development would ultimate result in the formal launch of the business in 2019. Fashionista Point, would have the quarterly fiscal period, with the fiscal year being the calendar year (Schipper et al., 2017). To administer the cash flow, the plan of the company is to establish annual financial statements of profit and loss, statement of financial position, cash flow and break even analysis to understand the viability of the business. The financial statement would help in creating a comparative evaluation of the performance for every financial year and eliminate any unnecessary expenditure that impacts the profitability of the business (Callen, 2015). The financial plan would also accompany the monthly and annual sales of garments. Apart from this, a yearly and monthly production budget would also be created to monitor the production of each line of clothing items.   

The financial plan is reliant upon certain assumptions and majority of which is shown in the financial table. The main underlying assumptions are as follows;

1. The business assumes that the economy is currently attaining growth at a slower rate without the major recession.
2. It is further assumed that during the course of the business there are no such unforeseen circumstances or changes in the technological equipment that becomes obsolete immediately.
3. The business also assumes that the equity capital and financing is sufficient enough to maintain the financial plans that are represented in the tables.

(2) CASHFLOW FORECAST
	Pre-opening
Year		FY-1	FY-2	FY-3
CASH INFLOWS
Cash from Sales		21,17,200	27,52,360	33,02,832
Directors loans	30,00,000	30,00,000	30,00,000	30,00,000
Capital Employed	50,00,000	50,00,000	55,00,000	60,50,000
Other cash inflows
TOTAL CASH INFLOW	80,00,000	101,17,200	112,52,360	123,52,832
CASH OUTFLOWS
Payments for materials		6,35,160	6,66,918	7,20,271
operating expenses (         )	0
Premises (rent, rates)	0	75,000	75,000	75,000
Wages and salaries	0	3,00,000	3,60,000	4,50,000
General expenses	0	14,550	17,460	21,825
Interest and bank charges payable	0	2,40,000	2,40,000	2,40,000
Lease payments	0	1,55,000	1,86,000	2,32,500
Corporation Tax		1,15,497	2,49,595	3,28,346
Market survey costs	0	15,000	18,000	22,500
Other preliminary expenses	0	14,550	17,460	21,825
capital expenditure
Plant and other capital expenditure	0	23,16,250	23,16,250	23,16,250
financing repayments
Loan repayments			2,40,000	2,40,000
TOTAL CASH OUTFLOWS	0	38,81,007	43,86,683	46,68,517
Cash flow summary
NET CASHFLOW FOR PERIOD	80,00,000	62,36,193	68,65,677	76,84,315
OPENING CASH BALANCE	0	80,00,000	142,36,193	211,01,870
CLOSING CASH BALANCE	80,00,000	142,36,193	211,01,870	287,86,185

The key financial indicators for the first three years are listed below;

The business anticipates major growth in the sales and operating expenditure. This would ultimately create a boost in the collection days as the business anticipates to attain growth in the future years. The collection days is considered as very important as the business does not want its average collection days to go beyond the 30 days’ period at any situations. This may result in serious problems of the cash flow due to the tight situation of working capital.

The gross net profit forms the bottom line for amount of cash that is left over following the expenditure are paid off (Elliott, 2017). Furthermore, with the net profit being easily reflected over the balance sheet financing becomes relatively possible to easy the smooth flow of capital from the seasonal fluctuations. Fashionista Point, go into this route so that it can keep the things moving during the down season.

Another key financial indicator for the Fashionista Point is the gross profit margin that tells the business the amount price that is to be imposed on the goods and services (Brown & Jones, 2015). The gross profit margin is large enough to cover the fixed costs expenditure and leave behind the net profit at the end of the day.     

The personal initial investment by the owners would be 50,00,000 while the remaining amount would be financed through Bank. The initial target market of the business comprises of the school, colleges, corporate firms, teams or organizations and corporate individuals (Lovell, 2014). Fashionista Point would separate the business from the other firms as the society conscious company that would return back to the community with the help of empowerment programs for those that are less privileged in the society.

During the first year of operations the company predicts full sales to approach the mark of 20,00,000. However, the second year of its operations the business plans for a minimum of 15% growth in the sales revenue with the need of adding up a full-time graphic designer and production assistant to commence the production of complete line of custom clothing as well (Nilsson & Stockenstrand, 2015). In the third year of the business operations, the CEO of Fashionista Point believe that it would have the storefront in the metropolitan cities of India.

For the Fashionista Point, as the measure of initial expansion of inventory the business would purchase the materials from the local produce of Tiruppur as the state is well-known for its cotton fabrics across India. The business would also hire the numerous sales agents based on the commission basis so that they can promote the high-profile events. The sales agents would help in creating and maintaining a strong working relationships (Baker & Burlaud, 2015). Furthermore, the strong working relationship with the sales agent would also help Fashionista Point in obtaining raw materials at lower price based on contractual agreements with the local vendors. This would ultimate help in reducing the cost of materials, shipping cost and savings in the interest charges. Thus, an efficient cash management or cash flow would be promoted in the business by taking full advantage of the free social media.

As evident from the initial budget Fashionista Point aims to keep sufficient amount of money in the interest bearing loan accounts to cover up the economic swings. The company aims to generate revenues from the specific sources namely the e-commerce commission fees that is paid by the sponsors of products, integrated content and advertisement banner on the websites, personal savings. The company would develop and market its own branded store outlets services.     

Start Up Expenses
Start-up Expenses
Fixed Costs	Particulars	Amount (in RS)
	Website Development Cost	15000
	Leased Premises Rent	75000
	License cost	17500
	Warehouse and office rent	65000
	Utility deposit (Gas, electric and water)	80000
	Wages and salary for three month	75000
	Accountant fees	15000
	Solicitor Fees	10000
	Rental Lease Costs	12500
	Phone & Internet Connection Costs	7500
	Computer Software	25000
	Raw materials	1250000
	Staff training cost	19500
	Marketing and sales cost	85000
	Office equipment	127500
	Transportation cost	10500
	Workers Compensation	25000
	Building & Content Insurance	25,000
	Working capital	60000
	Total Fixed Costs	2000000
Average Monthly Costs
	Rent	1250
	Interest on loan 8%	1458.333333
	Postage & Telephone	10625
	Gasoline and Oil	6250
	Salaries / Wages	6250
	Total Average Monthly Costs	25833.33333
	x Number of Months:	12
	Total Monthly Costs	$3,10,000
Total Start-up Expenses		$23,10,000
Start-up Assets
Sources of funds
	Owners Fund	$50,00,000
	Total Owner Funding	$50,00,000
Loans
	Bank Loan	$30,00,000
	Other
	Total Loans	$30,00,000
	Total Start up Funds	$80,00,000
Assets
	Computers	85000
	Factory Shed	$2,40,000
	Machineries & Equipment’s	$17,75,500
	Office Furniture’s and Installations	$2,15,750
	Total Fixed Assets	$23,16,250
Total Start-up Assets		$103,16,250

Break even analysis can be defined as the analysis that helps in ascertaining what amount a business should sell either monthly or annually in order to cover the cost of conducting the business. The break-even analysis tables help in computing the sales and revenue per unit of sales (Lovell, 2014). With the higher amount of gross margin and projected fixed monthly expenditure, the required amount of monthly break-even sales volume is revealed in the below stated table. The table further contains the important assumptions which the business would use to make sure that its success in the textile business is maintained and the primary assumption involved in the break-even analysis is that the economy would expand in much better way than what it is doing currently.  

Break-Even Analysis
Selling Price (per unit)		1250
FIXED COSTS
Leased Premises Rent		75000
Warehouse and office rent		65000
Utility deposit (Gas, electric and water)		80000
Wages and salary for three month		75000
Accountant fees		15000
Solicitor Fees		10000
Rental Lease Costs		12500
Phone & Internet Connection Costs		7500
Raw materials		1250000
Transportation cost		10500
Workers Compensation		25000
Total Fixed Costs		1625500
VARIABLE COSTS		Per Unit
Variable Costs based on dollar amount per unit
Cost of Goods Sold		7.5
Direct Labor		6.5
Overhead		4.75
Other (specify)
Total		18.75
Variable Costs based on percentage per unit
Commissions		7.50%
Total		0
Total Variable Cost per Unit		112.5
	Contribution Margin per Unit	1137.5
	Contribution Margin Ratio	0.91
Break-Even Point
Break-Even Units		1,430 units
Break-Even Sales		1786263.736

Figure 5: Figure representing Break-Even Analysis

(Source: As Created by Author)

Fashionista Point is in the early stages of the development; therefore, the initial projections have been only made on the accounts that is believed by most to drive the income statement.

(4) PROFIT AND LOSS FORECAST
	Pre-opening
Year	0	FY-1	FY-2	FY-3
Revenue	0	21,17,200	27,52,360	33,02,832
Cost of sales	0	6,35,160	6,66,918	7,20,271
Gross profit	0	14,82,040	20,85,442	25,82,561
Gross Margin		18,47,707	21,69,973	25,36,692
Expenses/overheads
Leased Premises Rent		75,000	75,000	75,000
Wages		3,00,000	3,60,000	4,50,000
Administrative Expenses		14,550	17,460	21,825
Communication Expenses		1,50,000	1,80,000	2,25,000
Marketing Expenses		90,000	1,08,000	1,35,000
Rates		85,000	1,02,000	1,27,500
Insurance		47,500	57,000	71,250
Other general expenses		25,000	30,000	37,500
Interest		55,000	66,000	82,500
Market survey		2,40,000	2,40,000	2,40,000
Prelim expenses		15,000	18,000	22,500
Total expenses/overheads		10,97,050	12,53,460	14,88,075
Profit before tax		3,84,990	8,31,982	10,94,486
Tax @ 30%		1,15,497	2,49,595	3,28,346
Profit after tax		2,69,493	5,82,387	7,66,140
Transfer to reserves		3,84,990	8,31,982	10,94,486
ROC		5%	12%	14%

Balance Sheet
Assets	FY-1	FY-2	FY-3
Current Assets
Cash	$62,36,193	$68,65,677	$76,84,315
Accounts receivable	$21,17,200	$27,52,360	$33,02,832
Total current assets	$83,53,393	$96,18,037	$109,87,147
Fixed (Long-Term) Assets
Computers	85,000	85,000	85,000
Vehichels	$17,75,500	$17,75,500	$17,75,500
Furniture	$2,40,000	$2,40,000	$2,40,000
Equipment	$2,15,750	$2,15,750	$2,15,750
(Less accumulated depreciation)	$2,54,700	$2,42,670	$2,33,046
Total fixed assets	$20,61,550	$19,88,580	$19,98,204
Total Assets	$104,14,943	$116,06,617	$129,85,351
Liabilities and Owner’s Equity
Current Liabilities
Accounts Payable	11,00,413	8,04,193	12,07,055
Accrued Rent	$75,000	$75,000	$75,000
Bank Charges Payable	$1,55,000	$1,86,000	$2,32,500
Income taxes payable	$1,15,497	$2,49,595	$3,28,346
Accrued salaries and wages	$3,00,000	$3,60,000	$4,50,000
General Expenses	$14,550	$17,460	$21,825
Total current liabilities	$17,60,460	$16,92,248	$23,14,726
Long-Term Liabilities
Long-term debt	$30,00,000	$27,60,000	$25,20,000
Less: Loan Repayment		$2,40,000	$2,40,000
Total long-term liabilities	$30,00,000	$30,00,000	$27,60,000
Owner’s Equity
Owner’s investment	$50,00,000	$55,00,000	$60,50,000
Net Profits	$2,69,493	$5,82,387	$7,66,140
Reserve and Surplus	$3,84,990	$8,31,982	$10,94,486
Total owner’s equity	$56,54,483	$69,14,369	$79,10,625
Total Liabilities and Owner’s Equity	$104,14,943	$116,06,617	$129,85,351

The company anticipates that the sales would start off begin in a bit conservative manner and would steadily increase the over the period of time following the first year of its operations. The sales are forecasted to increase by 5% annually. It is noteworthy to denote that the current financial statement of the Fashionista Point is simply projected. With the strong brand promotion and marketing strategies the sales are anticipated to rise gradually when the product is entirely well-known among the customers.

Yearly Sales of Garments:

YEARLY SALES FORECAST		FY-1	FY-2	FY-3
T-Shirts		5,58,950	7,26,635	8,71,962
Tracks		2,55,000	3,31,500	3,97,800
Trousers		4,25,750	5,53,475	6,64,170
Jerseys		1,25,000	1,62,500	1,95,000
Shirts		7,52,500	9,78,250	11,73,900
Total Revenue		21,17,200	27,52,360	33,02,832

Figure 6: Figure representing Yearly Sales Forecast

(Source: As Created by Author)

Monthly Sales of Garments:

Figure 7: Figure representing Monthly Sales Forecast

(Source: As Created by Author)

Yearly production of Garments:

Units of Production
Projected unit sales	Q1	Q2	Q3	Q4
T-Shirts	34,500	35,000	35,250	34,000
Tracks	22,500	23,250	23,500	24,750
Trousers	21,500	20,750	18,500	17,250
Jerseys	12,500	14,750	16,500	16,250
Shirts	29,000	26,250	26,250	27,750
Units available for sale	1,20,000	1,20,000	1,20,000	1,20,000
Budgeted production	1,20,000	1,20,000	1,20,000	1,20,000

Figure 8: Figure representing Yearly Production Forecast

(Source: As Created by Author)

Monthly Production of Garments:

Figure 9: Figure representing Monthly Production Forecast

(Source: As Created by Author)

Entrepreneurship can be defined as the pursuit of opportunity beyond the resources that are controlled hence it is viewed as the lifestyle with one of its major principles is related to risk taking. Therefore, a good entrepreneur accepts the journey of risk and work strictly in the direction of attaining the business goals that are both short and long term and based on the priority. The main purpose of this research was the to create a manual business for Fashionista Point.

The primary goals and objectives of the business together with the company’s description, value creation, description of product and operational planning has been sorted out by using the entrepreneurial approach and the info are gathered by using the secondary sources. The author with the help of this thesis has a gained a better understanding of what is involved in setting up a fashion business in Nigeria together with the opportunities and strengths. The information gathered has subsequently helped the author in structuring the required details that is needed in the business plan that serves as the better starting point for the Fashionista Point.

The business plan is created with the intention of creating a fashion start-ups or any interrelated establishment that can be amended or changed to meet the business needs. Despite the fact that some of the financial projections of the company may be very unclear, the right sources and template has been discovered to fix the financial forecasts. On the other hand, the author of the thesis presumes that the research work of the project and has been completed successfully with the business gaols are attained completely.

Start-ups in the Indian fashion industry should understand the challenges and tackle them given the gains are completely harnessed. The textile industry in India has turned out to be the major sector of the economy as the figures of GDP has shown that the textile garments and apparels have contributed to this industry which is a viable sector that requires complete harness. The government of India should collaborate more with the private sector in the investment industry for example providing financial incentives which encourage the institutions to provide credit for the purchase of the new machines and special fashion training.

Beside this, the government should also offer provide a proper technical and marketing infrastructure by taking effective measures to impose restriction on the import of certain textiles products that are already in place. Finally, the government is required to create an environment for the purpose of branding the Indian Cotton both in the domestic and overseas market to boost up the declining sales. The authors here provide recommendations which will help in creating a sustainable atmosphere for the Indian textile industry. This comprises of the following;

1. Adopting indigenous fabrics for both the cultural and the corporate wear which would be both economical as well as innovative. The adoption of the indigenous fabrics would welcome the development of the Indian textile industry with large, cheaper, modest and affordable fabrics.   
2. To make the Indian textile industry internationally competitive the government of India should encourage the local investment and providing access to the low funds and capacity building.
3. Provision relating to the textile machinery and equipment for the smooth and efficient production.
4. Supply chains and distribution channels among the textile industry should have numerous promotional efforts- digital and traditional, strategic initiative of mutual benefit to the stakeholders must be inspired among the manufacturers to innovate and develop the textile products.

The start-up in India should understand the challenges and tackle them in order to harness the gains sufficiently. The textile industry can turn out to be the major sector in the economy of the country.  

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