Essay Sample on Entrepreneurship: The Sewing Business

Introduction

Many people have dreams of becoming successful businessmen. Hence there is a need to understand how one can start and run a business profitably. Startups are particularly beneficial since they give the owner an opportunity to use the business knowledge to grow a business, something that would not happen if the person was formally employed. An example of an entrepreneurial activity is starting a sewing business, by identifying different aspects of the market.

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The Sewing Business

The Sewing Business lies in the Clothing and Footwear industry, closely related to the textile industry. This industry involves designing and sewing clothes from pieces of garments. Quality Clothing Enterprises will be a limited liability company owned by shareholders. The corporation will be a separate legal entity from the owners and hence have limited liability. The firm will have ordinary shares only. The company will have access to more capital than in a sole proprietorship.

Operation

The business will be located in New York City in the New York State. Since it is a small corporation, the firm will rent a building in the City where all its activities will take place. Supplies such as zippers and fabric will be bought and tailoring and fitting made, to finished clothes ready for customers. The town has high pollution of people, with everybody being a potential customer since everybody needs clothes. The firm will, however, target the adult segment of the population, those who work in the offices. The adult population majorly makes up the population of the city, hence production of office clothes will be beneficial (Choi, 2016) .Manhattan regions will be the region of operation, while the corporation will face competition from Gizmo Notion and Mood Fabrics. Starting a small corporation will be beneficial to avoid stiff competition from already established firms like Nike.

Competitive Advantage

The firm will have an advantage over the competitors by using the latest technology and developing a way in which the customers can select clothes, buy and receive them at their home or offices. The potential customers will be allowed to decide the design they want. The other competitors also do delivery only if the purchase is passed a given minimum. The firm will target office workers hence their need for office clothes will be eliminated. The company will find suppliers who offer high-quality fabrics to ensure that the products are the best in the market. Allowing customers to choose whatever they want will minimize loses since no clothes will be produced without customers.

Long-Time Competitive Advantage

The corporation will continually update to the latest technological development. Through this, the institution will be ahead of its competitors in terms of quality production and customer satisfaction. Use of social media to conduct market research will allow the firm to monitor any change in the market and take the necessary steps to avoid failure (Mkwanazi & Mbohwa, 2016). The firm will also be licensed by a successful company such as Hermes to sell its formal clothes around Manhattan too. The company will not be affected by stiff competition.

Company Structure

The firm will be a limited liability company. The shareholders will determine who joins the board of directors in the annual general meeting. The board shall be elected again after two years. The Board of directors will select two executive officers. Under them will be managers; operational, financial, marketing and human resource. There will be other managers in the firm to oversee its full operations and workers and workers to work with the sewing machines. The company will relate with the suppliers of the raw materials and customers through its distributors.

References

Choi, S. (2016). A survey of the opinions of sewing company managers on the present conditions of the sewing industry and the government's policy on support. The Research Journal of the Costume Culture, 24(2), 150-165.

Mkwanazi, S., & Mbohwa, C. (2016). Operational entrepreneurship for the advancement of sewing cooperative's production performance: a short survey of existing research.