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Starting up my business will be expensive but using a number of different methods I will be able to get the funds to do this. I can use personal savings to start paying for the website and the first bundle of clothing that will be used for promotions. After I have lots of followers and people awaiting the launch I will apply for a small business loan of around £5000. This loan will be used to set up a stronger website and manufacture 500 garments. I will sell these for about £10 more expensive then the manufacture price each unit and hopefully sell them all proving peoples interest. I can then get customer feedback and spend more on manufacturing higher amounts of clothing to sell. The first year of trading I am not planning on making a huge profit as long as I have the records to prove my company is popular and will sell I will have everything I need to continue expanding into the second year.

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As the target market for my product is young adults the main method I am going to use to market my product will be social media. As Instagram has recently become more popular than facebook especially within people below 30 I am going to use this as my main method of marketing. I can start a page for the brand that will hopefully attract a large number of followers prior to the launch which will make people more excited. Instead of wasting money on adverts I can instead sponsor people with large followings to promote my product. Instagram is also a very useful tool because I can target lots of people from different crowds and interest to follow my business if I choose who I get to market my product depending on who follows them. The other way I'm going to market my product is by bringing it along with some of the people ive sponsored to expos across the UK doing a big tour and showing people my products. THis will attract a lot of people if I'm taking celebrities with me.

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To launch this brand I need to ride the risks not back off from them. I'm going to do this by keeping a very close eye on the industry whilst developing my product and make additional changes depending on what happens externally in the market. The apparent risks are that funding could go wrong and if the product doesn't go well I would end up in debt. I'm going to avoid this by making sure I have enough money in my savings to pay off debt if needs be. Another risk is that people could try and rip my designs off but I will avoid this by keeping designs secret up to launch and get patent for the logo and name of my company. Existing companies could also be a threat to the set up of my business and I can avoid them by not launching products at the same time or at a similar price point.

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To kick this business off I need to have a online profile for the brand to gather awareness this can be done quite easily but might take up to a year to gather the amount I desire. I also need a manufacturer to create my products but this is easy to do as lots are available. I also need a website which I can make myself and then the appropriate e commerce software to complete online transactions. I don't need a physical place to run this business through as I can just use the resources I have at home.

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The age of the customers I am expecting will be 16-28 being more precise the customers will be in to streetwear and alternative designs, also they will be people with an interest in social media. The people will also be intrested in clothes like supreme and off white etc but my products will be more affordable with a similar style. This allows me to incorporate my products into a audience that aren't as middle class or have enough money to buy designer clothes at designer prices. Another thing that will attract attention and customers will be that the designs will be very eccentric and feature aspects that often seen in the UK like modernised drawings of norse gods. Another area I can target is the skateboarding community as they tend to be fond of alternative clothing brands like palace etc. Then I could sponsor people with large Instagram followings to promote my product.

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Incorporating all the information from the previous slides, the plan will be to have a few prototype products made by a manufacturer that I will pay for with my savings. When this has been acquired I will start promoting on social media with an already promoted account and pre paid e-commerce software. Then I will start a tour of the UK visiting expos and pop up markets. Promoting the products and getting people involved in the movement. After this initial tour has been completed and a large following has been acquired and I have a sales record and can prove that my brand will be successful I will apply for a bank loan and then get more products manufactured.

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The smart time to set this business up would be after I have finished my course and have more savings. The ideal time to launch would be March when people are getting clothes for summer which would leave us to launch our ss19 launch. Another reason march is perfect as it is when a lot of people finish college/school so are more active online

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The business will launch from my house after I have sourced some prototype products with money in my savings. After I have these I will take to the market place in Hitchin to showcase the products and then when more money is being generated I will start selling online and travel the UK with a team consisting of my friends showcasing the products eg at expos and markets and events.

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This business will be entering the streetwear sector of fashion and will draw inspiration from Scandinavian design. The people this will appeal too will generally be young adults with a interest in alternative street wear(targeting the same people as supreme). I would be the sole owner of the business but I would employ people to help promote the business eg friends. When the business progresses farther more employees may be required eg legal team.

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