Stitched 1 Page Business Plan
Overview
Stitched has a clear business objective to develop, produce, promote and distribute a novice sewing kit product line. These products will be developed with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
As a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to launch a new product line to test the market and fully capitalise on our business potential. Our growth path is clearly oriented around the addition of new products, the development of these new products and the subsequent marketing of these. It is understood that costs will be associated with product development and marketing and these have been allowed for in our budget.
The Customer
Stitched has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have identified the key customer opportunity as the increased popularity of home sewing has lead to large numbers of novice sewers. This is a
desirable skill for our selected target market of modern women 14-35 years.
The Value Proposition
Stitched is uniquely positioned to deliver value to modern women aged 14-35 years. "Stitched will create novice sewing kits that are easy for new sewers to learn basic sewing skills and create fashionable garments or accessories." In order to be deliver on this value proposition, our kits use a mixture of fashion and zakka style to create modern garments and accessories. Includes fabric, notions, pattern, step by step guide and summary of skills learnt. Each kit is marked with ability level and skill set. This USP has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the beginner sewing kits market. We consider our large key competitors to be: Great British Sewing Bee products, Simplicity, Burda, Kwick Sew but also small independent sellers online. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively as a local small business out kits include everything novice sewers need
and produce modern garments and accessories.
Key Strategies
Over the next 4 months our focus will be to develop ten products, build an online and offline distribution network, build website
And develop a brand and marketing strategy. These tasks will be undertaken in the context of our broader strategy to expand our distribution network, continually develop new season products and implement a full marketing and CRM strategy. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: Launch new product line with seasonal products, distribute through a network of local stores and list products with online sellers and build online brand.
About this document
Beginner sewing kits Business Plan
This document was created by Sarah of Stitched using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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