Report Learning Art of Entrepreneur

Submitted By: Ali Arafat (6340)

Submitted To: Ms. Ayesha Aman

Section: Tuesday (3:00 to 6:00) Course: Entrepreneurship Campus: Iqra University (Gulshan Campus)

Date: 22nd May, 2012 Page | 1

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Table of Contents

S. No

Topics

Page No

Introduction

Business Profile

Competitor Analysis

Feasibility Analysis

10

SWOT Analysis

11

Business Plan

12

Conclusion

14

Beads N Buttons Pictures

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Letter of Transmittal

Ms. Ayesha Aman, Project Supervisor & Course Facilitator, Iqra University, May 22nd, 2012.

Respected Maam, We are honored to present this report that you have assigned me for the course of Entrepreneurship. This report is based on the project Learning Art of Entrepreneur I have learnt a great deal of entrepreneurship skills & practices performed by entrepreneur while working on project & I am very grateful to you. If there is any query concerning this report, I will be happy to discuss it. Hope you like it.

Regards, Ali Arafat (6340)

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Acknowledgement

There are many people to whom we are grateful for helping us out with this report. But first of all we would like to thank the Almighty Allah who gave me the courage and ability to full fill this intimidating task. Then we would like to thank Ms. Maria Khalique & Ms. Mehjabeen Khalique from boutique Beads & Buttons for their generous display of hospitality and kindness for bearing with us and giving us advices to overcome problems that I faced. We would also like to thanks my angel epithet parents for providing the countless cups of coffee and bearing with us for working entire nights. Last but not the least we would like to express our gratitude to our Entrepreneurship course facilitator Ms .Ayesha Aman who gave us this opportunity to fulfill this report.

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Synopsis In Entrepreneurship course of BBA curriculum in Iqra University it was required to submit an individual report on "Learning Art of Entrepreneur. There by we have full filled our requirement and have listed our findings in the following pages. We were required to choose an entrepreneur and analyze all of its business activities in detail & spotlight majorly on their business profile, business plan, feasibility analysis, competitor analysis & SWOT analysis. In order to achieve the objective of this report we had to rely on our own analytical skills as well the information we received Ms. Maria Khalique who is a young entrepreneur carrying out her business in females designer outfit industry under the brand name of Beads N Buttons. We even went further to compile consumer views about different vehicles and the dealer opinions on the other brands available. To full fill the extensive requirements of this report we broke each and every one of the companys activities in order to conduct and procure a more in-depth and more meaningful analysis. For each activity analysis tools such as Internal Factor Evaluation, External Factor Evaluation, and Entrepreneurship analysis are just some of the tools used in the following pages to bring a consistent and better analyzed answer. We hope the following pages will be better able to answer and give thoughtful insight into Beads N Buttons.

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1. Introduction Beads N Buttons offers you a diverse mix of fashion ranging from the classic to the quirky. The variety is extensive, from casual, evening and party wear to special occasions and bridal gowns, we always offer updated styles and complete wardrobe solutions for every one's apparel needs. The clothes at Beads N Buttons are amalgam of hues, glitters, and ravishing styles. In our designs we have chosen both pastel and vibrant shades, and both heavy and lighter fabrics such as silk, crepe, raw-silk, kataan, charmeuse, crepe tissue, chiffon, satins, georgette, organza, net, khaadi, karandi, crushed fabric, banarsi, atlas, jamawar and velvet. So here's, Beads N Buttons bringing trends to your wardrobes! Stay Beautiful!

2. Business Profile a. Owners Name: Beads N Buttons is owned by Ms. Maria Khalique. Recently she has completed her BBA [H] from Iqra University (Main Campus) & nowadays she is working in some private organization & running Beads N Buttons simultaneously. She operates this business as a sole owner with help of her sister Ms. Mehjabeen Khalique. b. Organizations Name: Beads N Buttons. c. Contact Info: Shop Address: Shop # 02, 2nd Zamzama Commercial Lane, Phase 5, DHA, Karachi. Email Address: beads.n.buttons@hotmail.com Facebook Profile Page: http://www.facebook.com/beadsnbuttons.couture Cell #: 0313-2073967 Page | 7

3. Competitor Analysis a. Direct Competitors: Since Beads N Buttons is located at Zamzama Commercial Lane, its direct competitors are the shops in Zamzama that deal in female designer wears. Each player has their own mode of making the final products and pricing it and all of them have somewhat different niche to serve. Here the creativity and taste preferences come into play. Beads N Buttons strives to maintain the customer satisfaction by launching new collections time to time to keep up with the competition. b. Indirect Competitors: Beads N Buttons deal in formal and semi formal dresses, which are festive as well as elegant. Its indirect competitor can include boutiques that rent party wears for occasions. Such indirect competition can take away a great deal of revenue chunk from Beads N Buttons. c. Porters Five Forces Model Bargaining Power of Suppliers: Beads N Buttons have a trusted group of cloth vendors and skilled force to make the outfits on time. Since Beads N Buttons provide a great deal of business to its sellers and work force, they work with them in close alliance, and deal with their orders on a priority basis. Bargaining Power of Customers: Beads N Buttons serves its customers needs in a personalized manner. They customize their collection as the clients desire and give them what they want. One of the great ways to gather customer s attention is that they hold exhibitions time to time and display their latest designs. 80% of the new arrival is always sold out during these exhibitions. They also receive a great deal of new orders after such exhibitions. This shows how much demand is there among the customers for Beads N Buttons products. Threat of New Entrants: Beads N Buttons operates in a very vast industry. Many businesses enter and exit this market time to time. Especially at the times of festivals or weddings season, many businesses open up to make money due to peak season. Beads N Buttons have to deal with the threat put up by these new businesses.

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 Threat of Substitute Products: There are various sellers of designer outfits out there in the market. The customers have a large variety at hand to choose from. Beads N Buttons have to strive hard to maintain their unique identity among the available alternative. Competition Inside Industry: Beads N Buttons operate in a fast growth industry. There are so many sellers serving their own niches. Therefore the competition inside the industry is not quite cut-throat.

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4. Feasibility Analysis a. Proposed Business Venture: Beads N Buttons is a designer dress brand presenting formal and semi formal outfits for females. b. Progression Towards Business Idea: The business was started in 2008 after the entrepreneur realized that she can actually make money with her skills. Shortly the business started gaining reorganization and made good profits. c. Product Feasibility: Female designer wear is a fast growth business. It has got the potential to expand throughout the country and abroad. With the availability of internet, it is far easier to reach the clients worldwide. d. Industry (or Market) Feasibility: The industry of designer dresses is quite scattered. However, Beads N Buttons and such businesses are faced with a huge amount of market demand to fill. That is why, there is no harshness in the competition and every business is doing well in its own lane of the path. e. Organizational Feasibility: Beads N Buttons is a profit making business that is running on its own now. It is a small scale business that is highly liked by its customers. There is a high likelihood that this brand can do well on large scale too. f. Financial Feasibility: The business was started with some initial investment, soon after that it started making its own profit and making money for the business needs. Now it is a booming business that has proved to be a great success on small scale and may become a great brand on large scale.

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5. SWOT Analysis a. Strengths: High Demand of Beads N Buttons Fashion Collection The fashion conscious people, especially the youngsters are highly attracted to the fashion collection of Beads N Buttons. Continuous innovation is the major attribute that helps them have such high recognition among customers. Online Presence Increases Customer Outreach Beads N Buttons maintain strong customer interaction through their facebook page. They serve orders from all over the world. b. Weaknesses: Small Scale Business Despite the high demand, Maria Khalique the owner of Beads N Buttons operates on a small scale. Currently she is doing a job too, that takes most of her time. According to her this is just a pass time activity to satisfy her creativity, and not a serious business. c. Opportunities: High Scope for Business Expansion Beads N Buttons can expand the business and build the budding brand into a powerful business. There is already high demand for their outfits, all they need to do is put more of time and efforts to building the brand and reinvest the revenues into the business expansion. d. Threats: Business Closure due to Lack of Attention As already mentioned, Maria the business owner have recently accepted a job offer and started working in an entirely different field. Though she is managing the business too, but chances are that soon she might grow tired of riding two boats. She might either quit her job and devote herself to her passion of dress designing or she may quit her hobby and make her career in the corporate world.

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6. Business Plan a. Executive Summary: Beads N Buttons is a brand for female designer outfits. It was founded in 2008 by Ms. Maria Khalique, a young designer. The business has its presence on social media via facebook. Its outlet is at Zamzama, Karachi. Its target market is constituted on females age group from 16 to 45 (probably). The brand has received a great reception from its very beginning. They launch their outfit collections on seasonal basis regularly. They also design outfits as per their customer demands. b. Organization Description: Beads N Buttons is a designer dress brand presenting formal and semi formal outfits for females. The business is owned by a young entrepreneur Maria Khalique. Beads N Buttons have one outlet at Zamzama. They maintain strong online existence through facebook. Beads N Buttons also conduct small exhibitions to boost their business. They customize their designs according to customer demands and make them according to their orders. c. Industry Analysis: The industry of designer dresses is quite scattered. However, Beads N Buttons and such businesses are faced with a huge amount of market demand to fill. That is why, there is no harshness in the competition and every business is doing well in its own lane of the path. d. Market Analysis: The market for female designer dresses is huge. This can be supported by the fact that there are more females than males in our population and the ratio of the young is quite bigger than the old. Young women are the target market of Beads N Buttons. This is why the brand has got a huge success as it serves the demands of the female youth of today. e. Marketing Plan: Social Media has been a great tool to promote the brand. All the designs are displayed on their facebook page. Clients just choose the design, place order and get it customized according to their demand. Moreover, they conduct small exhibitions that are publicized through SMS among the friends and family circle of the business owner. f. Management & Organizational Structure: Beads N Buttons is owned solely by Maria Khalique. She buys cloth and accessories from trusted vendors. She have her own skilled team and own place where all the work is done. Page | 12

g. Operations Plan: All the goods are made according to the upcoming season or the orders at hand. The finished products are displayed for exhibitions and uploaded over facebook as well as available on the outlet. Once a season is over, the previous collection is cleared by putting up sale or discounts. h. Product Design & Development Plan: All the dresses are designed by the owner Maria with her sisters help. The designs are also altered to customize according to the customers demands sometimes. i. Financial Projections: The business operates at a small scale. Since designer dresses re so much in demand, they charge high profits. Therefore many a times the products are making 100% profit on each piece sold.

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7. Conclusion Beads N Buttons is a great idea by a rising entrepreneur. The brand has got excellent reception. We recommend that the entrepreneur should now take a step forward and expand the business to slowly bring it a large scale leading brand of the country. The creativity and passion of the business owner can surely turn into the countrys leading fashion brand one day.

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8. Beads N Buttons In Pictures a. Fresh Breath of Colors

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b. New Year Collection

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