Business Plan – RichWorth Uniforms & Research Report

Jain, Vineet (2011) Business Plan – RichWorth Uniforms & Research Report. [Dissertation (University of Nottingham only)] (Unpublished)

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Abstract

Executive Summary:

India Textile Industry is one of the leading textile industries in the world. The opening up of economy gave the much-needed thrust to the Indian textile industry, which has now successfully become one of the largest in the world. The apparel industry constitutes of about 50% of the Indian textile and apparel industry. Further, the textile industry of India also contributes nearly 14% of the total industrial production of the country. It also contributes around 3% to the GDP of the country. Reports state that Asia holds a massive 43% of the world's workwear volume, for instance. The overall market is expected to rise by 8.1% between 2005 and 2012, with Asia representing a gigantic 60% of the world growth of which India has a major share of about 20% and Latin America accounting for a substantial 45%. (Ministry of Textiles, http://texmin.nic.in/).

There is a clear disequilibrium in the corporate wear and workwear market in India which has been shown through reports and market analysis. The market is flooded with unorganized players but the buyers are dissatisfied due to leg in delivery time and poor quality issues. We aim to exploit this opportunity to start an organized venture with an efficient supply chain and an innovative offering called Total Uniform Solutions (TUS) which gives a total solution for uniforms requirements right from designing to delivery with a dedicated account manager and style consultants. The initial market to be tapped will be Chennai and South India in the first 5 years and then gradually capture the market in the North and also abroad.

This company is a family business with the founder owner having a rich experience in the textiles and garments business. He had started a public limited company dealing in textiles, a manufacturing unit for garments export and men’s garment retail. He has two sons. The elder son heads the retail wing. The younger son will be joining to head the Uniforms wing. Both the sons have pursued education from the United Kingdom; the elder in textile technology and management and the younger in Business Administration. Therefore, it is a good mix of experience and education in this company.

Therefore, the aim of this report is to create an efficient business model to integrate the uniforms wing into the existing family business and try capturing and increasing the market share year on year with effective management of finance. Following the business plan is a research report to present a literature review about the entrepreneurial opportunity found in the business plan and a few questions are attempted to be answered that arise out of the opportunity identified.

Item Type: Dissertation (University of Nottingham only)
Depositing User: EP, Services
Date Deposited: 10 Nov 2011 14:20
Last Modified: 23 Oct 2016 14:13
URI: http://eprints.nottingham.ac.uk/id/eprint/24904

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