Start Up Shoe Business - Essay Example

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HIGHLOWS shoe will have three adjustable heights i.e. high heel, medium heel and low heel. All these three heights can be adjusted in a single product. The heel of this innovative product will be of hard plastic. It can be rotated to adjust the desired heights from three default sizes…
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Start Up Shoe Business
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Download file to see previous pages high heel, medium heel and low heel. All these three heights can be adjusted in a single product. The heel of this innovative product will be of hard plastic. It can be rotated to adjust the desired heights from three default sizes. This feature is the key attractive feature of the product. Manufacturing cost of this product would be $25. The company will manufacture this product through their own production unit. It will source leather and other required raw materials from the local suppliers. The quality of this multi-featured shoe will be of premium standard so that it can be positioned in the market among the premium brands. Quality will be checked by the expertise of the company’s manufacturing department. Quality control activity involves checking of quality of lather and pasting. These two components of a shoe determine the overall quality of the product. Customers’ feedbacks about the product at initial stage need to be evaluated to find out necessary revisions in production process or product raw materials. Quality control is one of the most important parts of production process. The quality control department always needs to focus on the industry quality standard and position the brand by comparing general feedback of the customers about quality of this product with respect to other brands. This product will be offered in the market with high standard of customer service like 6 months after sales warranty for any kind of damages of the shoe. New shoe will be provided in case of major damages within 6 months. Production flow of this product will be controlled on the basis of the demand of the product in the market. This strategy will be adapted to faster liquidation of the inventory and lower inventory cycle. Customers’ feedback will be given higher priority for further product development in terms of quality and design of this innovative product. Location HIGHLOWS shoe will be manufactured in Springfield, MA. Springfield is one of the most popular cities in England. The manufacturing unit of this product will be established in this location. Therefore, availability of resources needs to be analyzed in this location. For developing manufacturing and warehousing unit, a large hall will be leased for the next 5 years, and the interior of the hall will be designed. This includes separating the total space into two different divisions like manufacturing unit and warehouse. In the manufacturing unit, required machineries will be installed. Electric wearing will be fixed before the installation of the machineries. The generator facility will be necessary to ensure 24 hour electric supply. Renting the required building will be cost effective for this new business as the initial investment needs to be allocated in various activities like marketing, transportation, working capital management etc. Therefore, the cost of developing a building will be allocated in other operating activities. It is the most effective business strategy for a new business to use rented fixed assets at initial stages, which also helps the company to easily withdraw the business in case of the worst case scenario in terms of market demand of the product. 2 to 3 vehicles are necessary for carrying raw material and also for supplying the products to the wholesalers as well as retailers. Again, to reduce initial capital requirements, this service will be outsourced from local transport service providers. To avoid delayed supply of raw materials, local suppliers will be involved in the production of this product. Legal Environment In order to obtain the licensing of the shoe business, an experienced attorney will have to be hired in order that all the legal requirements of the business are fulfilled and necessary ...Download file to see next pagesRead More
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