Business model "lean canvas” for Juju’s Fashion Retailer
In order for a person to make any business idea to be a success, he or she must introduce an effective business plan as well as a business model. A business model for fashion retailing business should cover all the relevant fields that aim at making it a success. Juju’s fashion retailer aims at producing recycling T-shirts for all the nations that are participating in the 2014 FIFA World Cup in Brazil. These T-shirts should be availed to the participants at an affordable price which will entice them to buy as much as possible (Kählig 66).
The production of these recycling T-shirts aims at enabling each team’s fans acquires cheering clothes at an affordable price. These ideas aims at enabling all participants express their passion and support to teams in fashionable manner. Moreover, the recycling t-shirts are introduced due to environmental factors such as pollution. This implies that these t-shirts will enable Brazil conserve its environment. During the Mega event, many people tend to buy products that portray their massive love to their teams and thus such recycling T-shirts would a better product for the event (Kählig 66).
Key Metric
Juju’s fashion retailer will attempt to bring order to the uncertainty chaos. The business should consider how the venture is a risk and its effects. The risk is introduced by the fact that these fans my view the T-shirts to be of poor quality and thus despise it. This may make them not buy the clothes. Therefore, the business should lay down exclusive plan on how to convince these fans buy the recycled T-shirts (Kählig 66).
Value Proposition
Juju’s Fashion Retailer should consider the collection of the products it offers and how such products will meet consumers’ needs and satisfaction. Therefore, it should provide the appropriate value through cross examining certain elements and aspects such as performance, newness, customization, brand/status, cost reduction, price, design, risk reduction, convenience and accessibility. In this case, Juju’s fashion business will produce recycling T-shirts which are customized to suit each fan’s team specifications. The price of the T-shirt is cheap and convenient in terms of consumers’ pockets.
Customer Segments
Juju’s Fashion retailer’s aims at producing Recycling T-shirts customized to suit each team’s fans demands. The teams’ jerseys have different colors and customizations. Additionally, the Business should consider that each team’s fans have different tastes and demands. Adults, teens and children will make part of the cheering fans which implies that the T-shirts should have different sizes (Maurya 5).
Key Partners
Juju’s Fashion business should consider establishing partnerships with all companies that will be sponsoring the FIFA World Cup in Brazil. It should partners such as FIFA association and environment conservation organization sponsoring the event. This will enable the business establish a buyer-supplier relationships which will enable it concentrate on the core or key activity.
Key Assets
The business should acquire experienced sales and marketing persons, establish a strong bond with key partners as well as establishing enough capital resources to sponsor the full production and sales process (Maurya 5). This will enable the business run its activities in an effective manner without many challenges.
Channels to Go To the Market
Here, Juju’s Fashion Retailer will adopt effective and efficient channels that will enable it establish a strong seller-buyer relationship. Such channels may be partner channels with FIFA association who will be the major distributors of the T-shirts. It can open store fronts near all stadiums where the events will take place (Maurya 5).
Cost Structure
Startup Expenses
Rent $10500
Licenses & Taxes $1500
Advertising and Promotion $3000
Communications $500
Inventory $500
Equipment $18000
Payroll $5000
Legal Fees and Accounting $1300
Miscellaneous $800
Total $35000
Revenue Streams
Here, the company will ensure that it identifies all necessary aspects that will be reflect in the income statement. This should include ads, subscriptions, fermium and other miscellaneous costs involves in order to determine gross margin, life time value and even break-even point of the enterprise.
Work Cited
Kählig, Christian. Facilitating Opportunity Development: Increasing Understanding of the Lean
Startup Approach in Early Stage High-Tech Entrepreneurship. München: GRIN Verlag GmbH, 2011. Internet resource.
Maurya, Ash. Running Lean: Iterate from Plan a to a Plan That Works. Sebastopol: O'Reilly
Media, 2012. Internet resource.
