Draw the complete business model to elaborate the flow how raw-material (inputs) is converted into final finished goods/services. (Note : The complete information of business is as follows : BEST LOOKS Our group business plan will feature a fashion designer company by the name Best Looks. Company description: Our company has realized the need to come up with a sound business plan which will guide the operations of our organization towards realizing high levels of economic growth and development. Our company will be manufacturing ladies casual wear like skirts, T-Shirts and Trousers. This is an area which we are fully prepared to tap in the large market based on the fact that the world has become very sensitive when it comes to fashion. Apparently, this is one of the sectors which are witnessing a lot of growth in terms of moving large volume of sales due to the fact that people are spending more on clothing especially in the developed countries. Our target market for our clothing line will be young ladies between the age of 18 and 35. This is because this is the age which is very adventurous when it comes to fashion and highly treasures fashion designs. The mechanism that our company will put in place will be to ensure that the needs of our customers are fully met and thus we will shift our previous approach to production to give more attention to production of fancy ladies wear. We have to consider is the spending capacity of the people in the location of our business. One thing to take note of is the fact of our products will be relatively expensive due to involvement of expertise in the production process and that the materials used for production are relatively expensive. This therefore means that the consumer will have to bear the extra cost by paying high costs for the garments. Location: Therefore taking on these factors, we have settled on Islamabad City as the best place to situate our business. This is an area which is characterized by a lot of young working class populations not to mention the fact that there are many colleges and universities there which still form a ready market for our products. The key message that is carried by the Best Looks includes upscale, classy, expensive and versatile. As a result, the promotional plan of the company will be very diverse and will include quite a big range of marketing communication. Vision: One of the visions of Best Looks is to become the leading fashion designer company in Pakistan and the rest of the world. Mission: The main mission of the company is to bring a new revolution to the world of fashion industry but moving in line with the changing trends in tastes and preferences of the people. Therefore the company will invest heavily in the research and development of new designs which match with the needs and demand. Objectives of the company: The company has the following objectives: To be the leading clothing line in Pakistan in terms of production of quality products. To open the market for upcoming similar markets in terms of sensitizing the public on various fashions and dress codes. To meet the existing demands for fashion and create new markets within and outside Pakistan. To create employment opportunities in the company in the country and outside. To establish a sound networks between the company and its clients through the use of appropriate marketing strategies. To be a leading exporter of ladies designer clothes to the rest of the world. Product plan: As earlier stated, the products being offered by our company will range from ladies fancy Skirts, T-Shirts and Trousers for young ladies aged between 18 and 35. By considering that the garments are for young ladies, the trousers will be designed to be very fitting, which is one of the tastes of the young people. Other than that the designs of the trousers will range from high waist to low waist to cater for specific tastes of the clients. The materials will also range from silk to linen. When it comes it comes to the designing the T-Shirts, most of them will be low-necked as it is preferred by many young people. The T-Shirts & Skirts in particular will come in wide variety of colors since the young people seem to be extremely adventures when it comes to the use of colors. Our products have unique characteristics which make them stand out from the rest of competitor's products. One of such unique characteristics emanates from the fact that the material which makes the garments is easy to manage considering the fact that it does not crease easily. This attribute makes our garments preferable for those people do lot like spending time ironing out their cloths. It is important to patent our products to block our competitors from using anything exclusive to our brand for their own competitive advantage. The name Best Looks will be patented so that there will be no other clothing line which will be legally allowed to use the name. This name will serve as our brand name and thus every piece of clothing will bear the name. For us to operate within the country smoothly, it will be imperative for our company to ensure that it fully complies with the government requirement as far as registration of the company and other basic operation requirement is concerned. Registration of the company will come first. Due to the official nature of the process, it will be important for our company to embark on this process early enough to avoid any unnecessary delays on the stipulated day of commencement of our business operations. The products of the company are also very unique compared to that of the competitors in terms of versatility of designs, color and the material used. This makes the customer to base her decision on of buying on a very wide variety of products. Target market: Our target market includes the young people who account for the greatest percentage in the total population of the country. However, the market is segmented into two units. To start with, there is that population consisting of college students mostly aged between 18 and 25. Other than that, the market is segmented into the age group between 25 and 35 years who majority fall in the working class category. These different segments of the population have varying spending power and so do their tastes of fashion vary to some extend. With such knowledge in mind, it becomes very easy for the company to adjust towards meeting the needs of each market segment because it matters a lot to see that the customers' needs are well taken care of. The profile of our target customer includes classy, elegant, and expensive outfit. As it is the case with many people who are fashion-conscious, these are attributes which add glamour to their wardrobes and this is exactly what our company will take care of. Competition: One factor worth noting is that the level of competition in the fashion industry has been growing daily. People have recognized the potential that this industry has and every one is trying every means possible to remain highly competitive. In Islamabad where our business will be located, there are quite a number of similar businesses, some which have been in operation for an extended period of time. However, locating our business there will be an advantage in the sense that customers are already aware of the fact that they can get high quality designs in Islamabad. Therefore, the tasks that will lie ahead of us are to make our products as distinguished as possible from that of our competitors and hence make them stand out. Marketing strategy: Our marketing plan will include a process creating awareness whole at the same time persuading customers to purchase our products. With more and more people using the internet, this will be a perfect place for us to carry out our marketing. Social networks such as face book and the twitter will be in on the frontline to tap in the market there since statistics have that the highest population there is the young people who are our target group. Using internet as one of our marketing tool will render the whole process less costly as compared to other channels of advertisement wile reaching a very large volume of customers in every part of the globe. Operating Plan: We will make use of subcontracting in the production process. This will cut down on operating costs by some margin and also ensure high production since we will see to subcontract people with a good record of performance. The production process will require the use of various machines and equipment. It means that the company will have to invest a lot in the state of the art equipment to guarantee better quality. Some of the equipment will be source from abroad. It will therefore call for specialized people to operate this equipment and this is where the significance of training comes out clearly. Inventory control is very important because a situation where the rate at which the products are made is far much higher than the rate at which they are distributed can result into pilling a lot of stock for such a long time, something which can compromise with the quality with time. The environment in which our business is situated has both positive and negative impacts. First, most people in the area are every fashion conscious and therefore it will not take much time for people to start appreciating our new fancy designs. Another advantage is that people have very high purchasing power and this translates into moving high volume of sales. As for the disadvantages, the weather conditions here get so chilly sometimes thus discouraging people from wearing our designs. Financial Plan: In our financial projections, we will assume that all factors will work in favor of our business and that we will be able to operate profitably. The projected revenues for the first three months will be estimated at 5000,000 dollars per month. However, we plan to keep our expenses at minimal levels as possible to be in a position to maximize out profits , for instance this is a breakdown of some of the consist that we will incur in the first month of production. Cost of raw materials 500,000 Wages and salaries 1,000,000 Cost of marketing 500,000 Fuel costs 500,000 Total 2,500,000 Therefore the profits for the first month will stand at 2,500,000 dollars. i.e. profit = total revenue -total cost =5,000, 000-2,500,000 = 2, 500,000 dollars Our business will try as much as possible to stay away from funding its operations from debts. This is because debts come with a very high cost in terms of interest rates. Therefore most of the operations will be funded from equity. Please draw business model of this company