
Market Study- it is a study of analyzing the demand of a particular product or location. By studying it properly, it will reduce the risk in making decisions. The goal of it is to supply the needs of customers by doing it effectively.
•Location Decision- it is important to know and decide where's the right place to allocate a starting business though it is difficult and costly. Having a perfect location that fits on your business will help to get customers. Canvasing will be a great help because if it wouldn't be done, there is a tendency to decide for a wrong location and it will be very inconvenient for the costumers and staffs. It can be divided in to two: supply factors and demand factors. Supply Factors includes labor costs, land costs, energy costs, transport costs and community factors. While Demand Factors includes costumer convenience, labor skills, site suitability, image and expansion potential.
•Funds- it is particularly an investment in starting a business to fulfill the financial needs. Money is important because it can supply the needs of a company and without a capital, it cannot start and run the business. Funds can be obtained either from own money or it can be lend through the bank.
•Inventory Selection- it is the asset of business that is commonly thought of as the finished goods or products a company accumulates before selling them to consumers. It is usually on hand and it's ready to sell.
•Inventory Preparation- it is a list of stocks which is supposed to be counted are set up. It is having knowledge when it comes to the stocks of a company. It can increase sales by effective managing and allocating the stocks properly. The purpose of it is to avoid the loss of products and it can protect against shortage and delays.
•Procurement- the business owners will determine the source of supplies by monitoring the in demand trends of clothes. Either, the product will be produced from domestic or international market. The owners buying wholesale product to the manufacturers for a trade are considerably lower from original price. The process should focus on the consumers who has an expectations from the quality of the product, time interval when to arrive, affordable price, and to foresee if they needed to store to cover up the unexpected scarcity of products.
•Preparation of Utilities- in starting a business, it is really important to make sure that the utilities is in order before opening it. The main necessity or the utilities such as— water and electricity. Those utilities is important like the electricity, it makes the stall clear and it gives good ambiance to attract the customers and for them to see our products.
•Preparation of Stall Design- it is a designing process which we make a lot of preparation in order to have a good ambiance and appealing to the customers. By having an effective layout, it can increase our sales and we can carefully plan the items on display and it can be easier for customers to find their needs. The stall design is not just comfortable and attractive but it is also operative
•Determining the Prices- making money means generating enough revenue from selling your products so that you can not only cover your costs, but take a profit and perhaps expand your business. The price of a product is determined by the law of supply and demand. Consumers have a desire to acquire a product, and producers manufacture a supply to meet this demand.
•Preparation of Financial Statements- it is one of the most important thing in running a business because having knowledge to manage those can help the company avoid bankruptcy. The main goal of financial statements is to record all the transactions when it comes to finances of a company. It is also used as a guide to know if the company is gaining profit or not.
•Social Media Platform- It is a marketing strategy wherein merchants sell products through "online selling", and it has evolved itself as a vital tool to market and publicize your brand. It can be used to promote and interact directly with your target audience. Facebook and Instagram are one of the top social media platform that businesses can use to introduce their products/business because of the great number of active users. Through this platforms, businesses can be easily recognized and it has a possibility to get potential consumers.
•Advertisement-it is the promotion of products/service to a big mass of audience in order to attract interest, engagement to customers and sales. It can be done by posting on social media or promoting it to the public by using newspaper and magazines. It is also effective through verbal way so that consumers will see and hear what actually a brand promotes.
•Work Schedule- refers to the list of time periods when an employee is expected to work. There are several types of work schedules like standard work schedule, fixed, full-time, part-time, shift etc. That vary based on the organization and in position. Work schedule can be different according to seasons.
•Orientation of Employees- the role of this is to help the new hired employees to understand the effective ways of handling the actual and potential customers and to know the goals and objectives of a company so that it will be easier for them to do their work effectively.