ABJ-4904-0 Applied Business Projects 202223 / Business Planning Assignment
Date
2024-01-30
Journal Title
Journal ISSN
Volume Title
Publisher
Bangor University
Abstract
The business presented in this paper is focused on tackling the issue of clothing
waste in the UK. It is achieved by recycling used clothing and transforming it into new
products, such as carpets and rugs manufactured locally in Scotland since the region
has relatively few competitors. Then, products will be sold online. The approach will
ensure a competitive advantage since competitors are either selling second-hand
clothing or exporting them to other countries, thus creating more waste through
transportation to other countries. Thus, the business will target Generation Z (12.7
million people), which is highly interested in sustainable operations and products
through the website and social media. At the same time, the business will target older
people for the used clothes supply through posters and local newspapers. Although the
venture is capital-intensive due to the equipment and rent, it has a greater economic
potential, hence earning 10% returns within the next five years.
Description
Keywords
Business