K-Ustomized : A Business Plan.
ABSTRACT
Bandung dikenal sebagai kota mode. Mendapat julukan Parijs van Java,
Bandung mengukuhkan diri sebagai pusat mode tanah air. Selain itu, saat ini,
fashion bergaya Korea sedang digandrungi di tanah air. Sebagai kota mode,
penulis melihat Bandung sebagai tempat yang potensial bagi fashion bergaya
Korea untuk lebih berkembang.
Fashion bergaya Korea adalah gaya fashion yang digunakan dalam dunia
hiburan Korea. Gaya Korea ini bisa dilihat melalui drama seri televisi, film,
maupun para penyanyi Korea. Saat ini banyak toko baju yang menawarkan
fashion bergaya Korea. Akan tetapi, belum ada satupun yang memfokuskan
diri pada gaya Korea saja. Oleh karena itu, penulis memutuskan untuk
membuka sebuah butik fashion bergaya Korea dengan nama “K-ustomized”
yang berlokasi di lantai satu Bandung Trade Center.
Selain menjual pakaian, K-ustomized juga menjual aksesoris pendukung
seperti aksesoris kepala, ikat pinggang, sepatu, sandal, tas, dompet, dan
aksesoris yang dapat ditempelkan sebagai pelengkap pakaian. Produk Kustomized unik karena produk dapat dibuat atas dasar pesanan atau
keinginan konsumen. Dalam memilih produk, konsumen pun akan mendapat
bantuan dari fashion advisor.
Tujuan dibuatnya business plan ini adalah untuk menarik investor
menanamkan modal pada K-ustomized. Dengan adanya business plan ini,
investor dapat memahami aspek pemasaran, aspek operasional, aspek
sumber daya manusia, dan aspek keuangan K-ustomized.
viii
Maranatha Christian University
EXECUTIVE SUMMARY
K-ustomized is the only Korean style boutique in Bandung offering girls
and women their own Korean style. With customized clothing, customers do
not have to worry about having the same clothes as other people. With
excellent service and attractive store design, customers will be attracted to
come to K-ustomized than to the other similar stores. Having a fashion
advisor, customers do not have to worry about which style suits them the
most. Bringing unique fashion and excellent service, K-ustomized will bring
satisfaction to customers.
K-ustomized is a profitable business. It is shown by its first year profit of
IDR 11,142,800 and its payback period of two years, nine months, and 27
days. The initial investment is now still covered by the owner. However,
investment is highly necessary in order to develop the business in the future.
ix
Maranatha Christian University
TABLE OF CONTENTS
DECLARATION OF ORIGINALITY...........................................................i
FRONT COVER OF THE BUSINESS PLAN............................................ii
APPROVAL PAGE...................................................................................iii
TABLE OF CONTENTS...........................................................................iv
LIST OF TABLES.....................................................................................vi
LIST OF FIGURES...................................................................................vii
ABSTRACT...............................................................................................viii
EXECUTIVE SUMMARY..........................................................................ix
CHAPTER I. THE BACKGROUND...........................................................1
CHAPTER II. MARKETING ASPECT.......................................................9
CHAPTER III. OPERATIONAL ASPECT..................................................17
CHAPTER IV. HUMAN RESOURCES ASPECT.......................................22
CHAPTER V. FINANCIAL ASPECT..........................................................33
BIBLIOGRAPHY
APPENDICES:
APPENDIX A BROCHURE
APPENDIX B QUESTIONNAIRE
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LIST OF TABLES
Table 1: Shopkeepers, Tailors, and Cashiers Working Hours.............29
Table 2: Initial Investment....................................................................36
Table 3: Cash Inflow............................................................................37
Table 4: Cash Outflow..........................................................................40
Table 5: Net Cashflow..........................................................................43
Table 6: Payback Period......................................................................44
Table 7: Net Present Value..................................................................45
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LIST OF FIGURES
Figure 1: Workflow Process......................................................................19
Figure 2: Location Map.............................................................................20
Figure 3: Store Layout...................................... ........................................21
Figure 4: Organizational Chart..................................................................23
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Maranatha Christian University
CHAPTER I
THE BACKGROUND
This chapter discusses the background of this business plan. It consists
of the background of the business, unique selling preposition, and the
SWOT analysis of the business.
1.1 Background of the Business
I distributed a questionnaire to fifty people whom I considered to be
a prospective target market, asking about their preference of clothing
stores. 53% of the respondents state that they prefer boutique to another
kinds of clothing store. Boutique is “a shop, especially a small one selling
fashionable clothes and other items” (“Boutique” 1).
I choose to open this boutique in Bandung because Bandung is famous
for its fashion (“Bandung Lautan FO dan Kafe” par.4). Therefore, the
fashion business in Bandung is promising.
The business plan idea to open a Korean style boutique is chosen
based on my passion and interest in fashion, especially Korean fashion
style. Besides, nowadays Korean style plays an important role in the
1
Maranatha Christian University
world‟s fashion industry. Korean designers make more and more impact
on style (“The Asian Fashion Industry Is Coming of Age” par. 1). Even
more, South-East Asian countries have now been smitten by Korean wave
(“Korean Drama Makes Waves” 1). According to these statements and the
result of the questionnaire I distributed, I believe that it will be promising to
run a business of Korean style boutique. I distributed a questionnaire to
fifty teenage girls of 13 to 19 years of age and young woman of 20 to 25
years of age. 64% of them answered that they liked Korean style. Also,
66% of them said that if they wanted to buy clothes, they would go to BTC.
Therefore, I choose to open the Korean style boutique at Bandung Trade
Center (BTC).
I plan to name my Korean style boutique “K-ustomized”. “K” stands for
Korean. “Ustomized” comes from the word “customized”. When the word is
read, the brand “K-ustomized” will be pronounced as /kʌstəmaɪzd/.
K-ustomized boutique will be selling products such as clothes, shoes,
bags, wallets, and accessories. The clothes offered will not all be Korean
brands, but there will also be Chinese brands which will be modified to
match Korean style. To modify the clothes, two tailors will be hired. The
shop will also have two sewing machines for the tailors to work with. The
shop will provide accessories which can be attached to the clothes. Other
accessories such as bracelets, necklaces, ties, belts, and earrings will also
be provided.
Some couches will be provided inside the shop for customers to sit on
while waiting for sewing process, for example attaching some buttons,
2
Maranatha Christian University
which does not take too much time. A television and some magazines will
also be provided. A Korean television channel will be played. The
magazines will be related to Korea.
1.2 Unique Selling Preposition
This business plan will be made unique by providing customers with a
fashion advisor, which other competitors do not have. A fashion advisor is
“someone who advises you about fashionable clothing” (“Fashion
Consultant” 1). Unlike the other competitors who make shopkeepers or the
shop owner a fashion advisor, the fashion advisor hired by “K-ustomized”
will be a professional one who has good knowledge about Korean fashion
style. Korean fashion style is the fashion style which is used by the actors
and actresses in Korean dramas and movies (“Roll Over Godzilla: Korea
Rules” par.1). The advisor will assist customers in choosing which
products suit them well. If customers want to customize the products, the
fashion advisor will help them choose which products that are going to be
mixed and matched and how.
The boutique‟s uniqueness will also be shown by the existence of two
tailors. The tailors will help customers to customize products by sewing,
cutting, or attaching accessories. They will work under the fashion
advisor‟s supervision and instruction.
1.3 SWOT Analysis
In planning this business, I have done a SWOT analysis. SWOT is an
3
Maranatha Christian University
abbreviation for strengths, weaknesses, opportunities, and threats. Pearce
states that “SWOT is an acronym for the internal strengths and
weaknesses of a firm and the environmental opportunities and threats
facing the firm (166). Therefore, it is important to have a SWOT analysis
before bringing this business plan into reality. By analyzing the strengths,
weaknesses, opportunities, and threats, I can make some strategies in
doing this business plan. In the next few paragraphs, the SWOT analysis
of my business plan will be explained.
1.3.1 Strengths
The first element of SWOT analysis is strengths. According to Pearce
and Robinson strengths are special qualities that a company has which
are also suitable with the needs of the markets (167). Based on this
statement, I have analyzed three strengths of my business plan which, will
be explained in the following paragraphs.
The first strength of my business plan is the product‟s uniqueness.
According to American Heritage Dictionary, unique is “being the only one
of its kind” (“Unique” 1). On 4 May 2011, I conducted a survey of four
boutique owners in Bandung whose boutiques have Korean style
products. All of them state there is no boutique in Bandung which has the
same style of service with “K-ustomized”. There is no other boutique that
provides a fashion advisor along with tailors customizing the products.
Besides, there is no other boutique that provide customers with a waiting
room which has couches, a television, magazines, and mineral water.
4
Maranatha Christian University
Therefore, I conclude that K-ustomized boutique, along with its products, is
unique.
The second strength of my business plan is customized products. They
are made according to the customers‟ wish. Fashion changes constantly
(“Fashion and the Process of Change” 1). Therefore, since my products
are customized, there will be no worry when the trend changes. The
process of customizing can follow the trend easily.
The third strength of my business plan is the shop‟s attractive interior
design. I will hire an interior designer to design the shop. The shop will be
Korean style designed. Therefore, when customers enter the shop, they
would feel as if they were in a Korean house. Frederick A. Babb states that
by placing emphasis on design, it increases “the influence impulse” and
“mood-related purchasing”. He further states that “the shop design will
differentiate the image and nature of the retailer and, ultimately, his or her
overall success” (par. 1). According to his statements, I believe that
making attractive interior design in the boutique will make customer
curious to enter the shop.
1.3.2 Weaknesses
The second element of SWOT analysis is weaknesses. “Weaknesses
are the qualities that prevent us from accomplishing our mission and
achieving our full potential” (“SWOT Analysis” par. 4). According to that
statement, my business has two weaknesses, which are the possibility of
customers complaining about the service and customers‟ waiting time.
5
Maranatha Christian University
I will explain about the first weakness of “K-ustomized” first. Since I
plan to have tailors and fashion advisor service, there is a possibility that
some customers do not feel satisfied with the service. For example, the
dress customized is different from what a customer has imagined it to be.
This problem may occur because the fashion advisor and tailors‟
imagination is different from the customer‟s.
The second weakness of my business plan is customers‟ waiting time.
How long the process of customizing will take depends on the level of
difficulty to work on the design. In working on some simple designs, for
example, attaching accessories, the process will take about ten to fifteen
minutes. However, in working on a complicated design that needs a more
complicated customizing process, the tailors need a few days. The
problem occurs when some customers need the product to be completed
as quickly as possible or they are not patient enough to wait.
1.3.3 Opportunities
Pearce and Robinson state that opportunities are “a major favorable
situation in a firm‟s environment” (166). According to this statement,
opportunities are helpful external conditions. I have analyzed that there are
two opportunities of my business plan. The first one is Korean wave, and
the second one is there is no competitor having the same service as “Kustomized”.
The first opportunity of my business plan idea is Korean wave. Korean
wave, which is also called “hallyu”, is the “wave of Korean feature films
6
Maranatha Christian University
and dramas”. As mentioned before, South-East Asian countries have now
been smitten by this (“Korean Drama Makes Waves” 1). It is also stated
that Korea has „attacked‟ Indonesia not only by its drama but also fashion
(“Basic House, Gaya Kasual Ala Korea” par.1). Therefore, I believe that
by the existence of Korean wave, my business plan idea to open “Kustomized” is profitable.
The second opportunity is that there is no competitor having the same
service as “K-ustomized”. I held a survey on 4 May 2011 at four boutique
owners in Bandung to know if there are any boutiques having the same
style of service with “K-ustomized”. From the survey, I found that 100% of
them state there is no boutique in Bandung which has the same style of
service with “K-ustomized”. Therefore, I conclude that this condition is an
opportunity for my business plan.
1.3.4 Threats
According to Pearce and Robinson, “a threat is a major unfavorable
situation in a firm‟s environment” (166). Based on this statement, I found
two threats for my business plan, which are four Korean style boutiques in
BTC and online Korean style fashion shops.
In this paragraph, I am going to explain about the first threat of my
business plan idea, which is four Korean style boutiques in BTC. BTC will
be the location of “K-ustomized”. From the research that I had conducted
on 26 September 2010, there are four Korean style boutiques in BTC, and
they can be a threat. They are Ching-Ching, Tanoshii, Coco Korea, and
7
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White Angel. They are potential threats because the style of clothes they
sell is almost the same as my boutique‟s style, which is Korean style.
The second threat is online Korean style fashion shops. I have
conducted a survey on 4 May 2011 to four boutique owners in Bandung.
75% of them state that online fashion shops has now become a threat,
especially those with Korean brands.
This chapter has discussed the background of this business plan. In the
following chapter, the marketing aspect of K-ustomized will be explained.
8
Maranatha Christian University
BIBLIOGRAPHY
Printed Source
Bohlander, George and Scott Snell. Human Resource Management
International Student Edition. Mason: Thomson Higher Education:
2007.
Kotler, Philip and Gary Armstrong. Principles of Marketing 10th Edition.
Upper Saddle River: Pearson Education Inc., 2004.
Pearce, John A., and Richard B. Robinson, Jr. Strategic Management:
Formulation, Implementation, and Control. New York: McGraw-Hill/
Irwin, 2005.
Robbins, Stephen P., and Timothy A. Judge. Organizational Behavior 10th
Edition. Upper Saddle River: Pearson Education Inc., 2007.
Electronic Sources
A . Babb, Frederick. “The Importance of A Retail Store's Design and
Atmosphere.” Helium. 2010.
Albo, Bonny. “Business Plan: Operations”. Entrepreneurs. 3 March 2008.
12 May 2011. < http://www.suite101.com/content/business
-plan-operations-a46471>.
Bacal. Robert. “What Human Resource Functions Need To Be Planned?”.
A Bacal & Associate Site. 2010. 5 April 2011. .
Maranatha Christian University
“Bandung Lautan FO dan Kafe””. 4 September 2003. 10 November 2010.
.
“Basic House, Gaya Kasual Ala Korea.” Okezone.com. 25 March 2010. 27
September 2010.
“Boutique.” Thefreedictionary. 2000
.
Cooper, Steven. “Cash Inflow”. Superior investor. 2010. 13 June 2011.
< http://www.superiorinvestor.net/investor-definitions/stock-valuation
fundamental-analysis.html>.
Distelzweig, Howard. “Organizational Structure”. Reference for Business.
2011.< 23 May 2011. .
“Fashion and The Process of Change.” Free Press Release. 16 September
2010. 28 September 2010.
“Fashion Consultant.” AudioEnglish.net. 25 September 2010.
Groves, Don. “Korean Dramas Make Waves.” Ten Alps Communication
Asia. 1 October 2007. 28 September 2010.
“Gubernur BI: Inflasi Tahun 2011 Enam Persen”. Liputan6.com. 26
January 2011. 14 June 2011.
Maranatha Christian University
“How To Choose Strategic Business Location”. Panelbusiness.com. 12
May. 2011. .
“How You Can Be Fashionabke and Stylish”. 9 November 2010.
< http://health.learninginfo.org/fashionable-stylish.htm>.
“Human Resource Management”. ERC. April 2001. 25 March 2011. <
.
“Job Analysis: Overview”. hr-guide.com. 2001. 26 May 2011. <
http://www.hr-guide.com/data/G000.htm>.
Kelly, Mark. “Primary and Secondary Data”. 23 November 2005. 4
March 2011. .
Lake, Laura. “Developing Your Marketing Mix.” About.com: Marketing. 20
September2009..
“Marketing Mix.” Answer.com. 12 Apr. 2010 .
“Marketing Strategy”. Business Dictionary. Business Dictionary.com.
5 November 2010. .
“Net Cashflow”. Business Dictionary. Business Dictionary.com. 11 June
2011.
Bandung dikenal sebagai kota mode. Mendapat julukan Parijs van Java,
Bandung mengukuhkan diri sebagai pusat mode tanah air. Selain itu, saat ini,
fashion bergaya Korea sedang digandrungi di tanah air. Sebagai kota mode,
penulis melihat Bandung sebagai tempat yang potensial bagi fashion bergaya
Korea untuk lebih berkembang.
Fashion bergaya Korea adalah gaya fashion yang digunakan dalam dunia
hiburan Korea. Gaya Korea ini bisa dilihat melalui drama seri televisi, film,
maupun para penyanyi Korea. Saat ini banyak toko baju yang menawarkan
fashion bergaya Korea. Akan tetapi, belum ada satupun yang memfokuskan
diri pada gaya Korea saja. Oleh karena itu, penulis memutuskan untuk
membuka sebuah butik fashion bergaya Korea dengan nama “K-ustomized”
yang berlokasi di lantai satu Bandung Trade Center.
Selain menjual pakaian, K-ustomized juga menjual aksesoris pendukung
seperti aksesoris kepala, ikat pinggang, sepatu, sandal, tas, dompet, dan
aksesoris yang dapat ditempelkan sebagai pelengkap pakaian. Produk Kustomized unik karena produk dapat dibuat atas dasar pesanan atau
keinginan konsumen. Dalam memilih produk, konsumen pun akan mendapat
bantuan dari fashion advisor.
Tujuan dibuatnya business plan ini adalah untuk menarik investor
menanamkan modal pada K-ustomized. Dengan adanya business plan ini,
investor dapat memahami aspek pemasaran, aspek operasional, aspek
sumber daya manusia, dan aspek keuangan K-ustomized.
viii
Maranatha Christian University
EXECUTIVE SUMMARY
K-ustomized is the only Korean style boutique in Bandung offering girls
and women their own Korean style. With customized clothing, customers do
not have to worry about having the same clothes as other people. With
excellent service and attractive store design, customers will be attracted to
come to K-ustomized than to the other similar stores. Having a fashion
advisor, customers do not have to worry about which style suits them the
most. Bringing unique fashion and excellent service, K-ustomized will bring
satisfaction to customers.
K-ustomized is a profitable business. It is shown by its first year profit of
IDR 11,142,800 and its payback period of two years, nine months, and 27
days. The initial investment is now still covered by the owner. However,
investment is highly necessary in order to develop the business in the future.
ix
Maranatha Christian University
TABLE OF CONTENTS
DECLARATION OF ORIGINALITY...........................................................i
FRONT COVER OF THE BUSINESS PLAN............................................ii
APPROVAL PAGE...................................................................................iii
TABLE OF CONTENTS...........................................................................iv
LIST OF TABLES.....................................................................................vi
LIST OF FIGURES...................................................................................vii
ABSTRACT...............................................................................................viii
EXECUTIVE SUMMARY..........................................................................ix
CHAPTER I. THE BACKGROUND...........................................................1
CHAPTER II. MARKETING ASPECT.......................................................9
CHAPTER III. OPERATIONAL ASPECT..................................................17
CHAPTER IV. HUMAN RESOURCES ASPECT.......................................22
CHAPTER V. FINANCIAL ASPECT..........................................................33
BIBLIOGRAPHY
APPENDICES:
APPENDIX A BROCHURE
APPENDIX B QUESTIONNAIRE
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LIST OF TABLES
Table 1: Shopkeepers, Tailors, and Cashiers Working Hours.............29
Table 2: Initial Investment....................................................................36
Table 3: Cash Inflow............................................................................37
Table 4: Cash Outflow..........................................................................40
Table 5: Net Cashflow..........................................................................43
Table 6: Payback Period......................................................................44
Table 7: Net Present Value..................................................................45
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LIST OF FIGURES
Figure 1: Workflow Process......................................................................19
Figure 2: Location Map.............................................................................20
Figure 3: Store Layout...................................... ........................................21
Figure 4: Organizational Chart..................................................................23
xii
Maranatha Christian University
CHAPTER I
THE BACKGROUND
This chapter discusses the background of this business plan. It consists
of the background of the business, unique selling preposition, and the
SWOT analysis of the business.
1.1 Background of the Business
I distributed a questionnaire to fifty people whom I considered to be
a prospective target market, asking about their preference of clothing
stores. 53% of the respondents state that they prefer boutique to another
kinds of clothing store. Boutique is “a shop, especially a small one selling
fashionable clothes and other items” (“Boutique” 1).
I choose to open this boutique in Bandung because Bandung is famous
for its fashion (“Bandung Lautan FO dan Kafe” par.4). Therefore, the
fashion business in Bandung is promising.
The business plan idea to open a Korean style boutique is chosen
based on my passion and interest in fashion, especially Korean fashion
style. Besides, nowadays Korean style plays an important role in the
1
Maranatha Christian University
world‟s fashion industry. Korean designers make more and more impact
on style (“The Asian Fashion Industry Is Coming of Age” par. 1). Even
more, South-East Asian countries have now been smitten by Korean wave
(“Korean Drama Makes Waves” 1). According to these statements and the
result of the questionnaire I distributed, I believe that it will be promising to
run a business of Korean style boutique. I distributed a questionnaire to
fifty teenage girls of 13 to 19 years of age and young woman of 20 to 25
years of age. 64% of them answered that they liked Korean style. Also,
66% of them said that if they wanted to buy clothes, they would go to BTC.
Therefore, I choose to open the Korean style boutique at Bandung Trade
Center (BTC).
I plan to name my Korean style boutique “K-ustomized”. “K” stands for
Korean. “Ustomized” comes from the word “customized”. When the word is
read, the brand “K-ustomized” will be pronounced as /kʌstəmaɪzd/.
K-ustomized boutique will be selling products such as clothes, shoes,
bags, wallets, and accessories. The clothes offered will not all be Korean
brands, but there will also be Chinese brands which will be modified to
match Korean style. To modify the clothes, two tailors will be hired. The
shop will also have two sewing machines for the tailors to work with. The
shop will provide accessories which can be attached to the clothes. Other
accessories such as bracelets, necklaces, ties, belts, and earrings will also
be provided.
Some couches will be provided inside the shop for customers to sit on
while waiting for sewing process, for example attaching some buttons,
2
Maranatha Christian University
which does not take too much time. A television and some magazines will
also be provided. A Korean television channel will be played. The
magazines will be related to Korea.
1.2 Unique Selling Preposition
This business plan will be made unique by providing customers with a
fashion advisor, which other competitors do not have. A fashion advisor is
“someone who advises you about fashionable clothing” (“Fashion
Consultant” 1). Unlike the other competitors who make shopkeepers or the
shop owner a fashion advisor, the fashion advisor hired by “K-ustomized”
will be a professional one who has good knowledge about Korean fashion
style. Korean fashion style is the fashion style which is used by the actors
and actresses in Korean dramas and movies (“Roll Over Godzilla: Korea
Rules” par.1). The advisor will assist customers in choosing which
products suit them well. If customers want to customize the products, the
fashion advisor will help them choose which products that are going to be
mixed and matched and how.
The boutique‟s uniqueness will also be shown by the existence of two
tailors. The tailors will help customers to customize products by sewing,
cutting, or attaching accessories. They will work under the fashion
advisor‟s supervision and instruction.
1.3 SWOT Analysis
In planning this business, I have done a SWOT analysis. SWOT is an
3
Maranatha Christian University
abbreviation for strengths, weaknesses, opportunities, and threats. Pearce
states that “SWOT is an acronym for the internal strengths and
weaknesses of a firm and the environmental opportunities and threats
facing the firm (166). Therefore, it is important to have a SWOT analysis
before bringing this business plan into reality. By analyzing the strengths,
weaknesses, opportunities, and threats, I can make some strategies in
doing this business plan. In the next few paragraphs, the SWOT analysis
of my business plan will be explained.
1.3.1 Strengths
The first element of SWOT analysis is strengths. According to Pearce
and Robinson strengths are special qualities that a company has which
are also suitable with the needs of the markets (167). Based on this
statement, I have analyzed three strengths of my business plan which, will
be explained in the following paragraphs.
The first strength of my business plan is the product‟s uniqueness.
According to American Heritage Dictionary, unique is “being the only one
of its kind” (“Unique” 1). On 4 May 2011, I conducted a survey of four
boutique owners in Bandung whose boutiques have Korean style
products. All of them state there is no boutique in Bandung which has the
same style of service with “K-ustomized”. There is no other boutique that
provides a fashion advisor along with tailors customizing the products.
Besides, there is no other boutique that provide customers with a waiting
room which has couches, a television, magazines, and mineral water.
4
Maranatha Christian University
Therefore, I conclude that K-ustomized boutique, along with its products, is
unique.
The second strength of my business plan is customized products. They
are made according to the customers‟ wish. Fashion changes constantly
(“Fashion and the Process of Change” 1). Therefore, since my products
are customized, there will be no worry when the trend changes. The
process of customizing can follow the trend easily.
The third strength of my business plan is the shop‟s attractive interior
design. I will hire an interior designer to design the shop. The shop will be
Korean style designed. Therefore, when customers enter the shop, they
would feel as if they were in a Korean house. Frederick A. Babb states that
by placing emphasis on design, it increases “the influence impulse” and
“mood-related purchasing”. He further states that “the shop design will
differentiate the image and nature of the retailer and, ultimately, his or her
overall success” (par. 1). According to his statements, I believe that
making attractive interior design in the boutique will make customer
curious to enter the shop.
1.3.2 Weaknesses
The second element of SWOT analysis is weaknesses. “Weaknesses
are the qualities that prevent us from accomplishing our mission and
achieving our full potential” (“SWOT Analysis” par. 4). According to that
statement, my business has two weaknesses, which are the possibility of
customers complaining about the service and customers‟ waiting time.
5
Maranatha Christian University
I will explain about the first weakness of “K-ustomized” first. Since I
plan to have tailors and fashion advisor service, there is a possibility that
some customers do not feel satisfied with the service. For example, the
dress customized is different from what a customer has imagined it to be.
This problem may occur because the fashion advisor and tailors‟
imagination is different from the customer‟s.
The second weakness of my business plan is customers‟ waiting time.
How long the process of customizing will take depends on the level of
difficulty to work on the design. In working on some simple designs, for
example, attaching accessories, the process will take about ten to fifteen
minutes. However, in working on a complicated design that needs a more
complicated customizing process, the tailors need a few days. The
problem occurs when some customers need the product to be completed
as quickly as possible or they are not patient enough to wait.
1.3.3 Opportunities
Pearce and Robinson state that opportunities are “a major favorable
situation in a firm‟s environment” (166). According to this statement,
opportunities are helpful external conditions. I have analyzed that there are
two opportunities of my business plan. The first one is Korean wave, and
the second one is there is no competitor having the same service as “Kustomized”.
The first opportunity of my business plan idea is Korean wave. Korean
wave, which is also called “hallyu”, is the “wave of Korean feature films
6
Maranatha Christian University
and dramas”. As mentioned before, South-East Asian countries have now
been smitten by this (“Korean Drama Makes Waves” 1). It is also stated
that Korea has „attacked‟ Indonesia not only by its drama but also fashion
(“Basic House, Gaya Kasual Ala Korea” par.1). Therefore, I believe that
by the existence of Korean wave, my business plan idea to open “Kustomized” is profitable.
The second opportunity is that there is no competitor having the same
service as “K-ustomized”. I held a survey on 4 May 2011 at four boutique
owners in Bandung to know if there are any boutiques having the same
style of service with “K-ustomized”. From the survey, I found that 100% of
them state there is no boutique in Bandung which has the same style of
service with “K-ustomized”. Therefore, I conclude that this condition is an
opportunity for my business plan.
1.3.4 Threats
According to Pearce and Robinson, “a threat is a major unfavorable
situation in a firm‟s environment” (166). Based on this statement, I found
two threats for my business plan, which are four Korean style boutiques in
BTC and online Korean style fashion shops.
In this paragraph, I am going to explain about the first threat of my
business plan idea, which is four Korean style boutiques in BTC. BTC will
be the location of “K-ustomized”. From the research that I had conducted
on 26 September 2010, there are four Korean style boutiques in BTC, and
they can be a threat. They are Ching-Ching, Tanoshii, Coco Korea, and
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White Angel. They are potential threats because the style of clothes they
sell is almost the same as my boutique‟s style, which is Korean style.
The second threat is online Korean style fashion shops. I have
conducted a survey on 4 May 2011 to four boutique owners in Bandung.
75% of them state that online fashion shops has now become a threat,
especially those with Korean brands.
This chapter has discussed the background of this business plan. In the
following chapter, the marketing aspect of K-ustomized will be explained.
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