WEEK 1
NARRATIVE REPORT
On the first day that our group had a meeting, we determined what is a business plan, what
are the parts and how it should be done. We did some researches on how to accomplish a
business plan. We have learned that a good Business Plan serves as guide through each stage of
starting and managing a particular business. It is a roadmap for how to structure, run, and grow a
new business. It’s a way to think through the key elements of the business. Business plans can
help to get fundings or bring on new business partners or investors. Business plan is a tool to be
used to convince people that working or investing in the company is a smart choice. On the 2 nd
day, we did some brainstorming on what kind of product is good to invest into. We had different
suggestions and we have laid down different ideas, but in the end, we all agreed to open up a
clothing business, since all of us have passion in clothing. We all know that starting a clothing
business requires a passion for clothing design and fashion. But in order to create a successful
fashion line that lasts, we need to choose what kind of clothing line and for whom. Since there
are already a lot of businesses that sell clothes for adults and teens, may it be on department
stores, tiangge or even online, we have chosen the age bracket that were not given much of
attention. This age bracket includes infants and toddlers, we have noticed that only a few
company caters to them. We spent the rest of the week in researching for different kinds of
clothes that we are going to produce and where we can find the raw materials with high quality
but will cost less.
WEEK 2
NARRATIVE REPORT
In the previous week, we all agreed to put up a clothing line business, we also have decided
for whom we are making these clothes. After determining our target market, we then developed
our brand name. Next, we have decided to operate in a physical store but at the same time we
plan also to sell our products online. Now, we are ready to make an Executive Summary. An
executive summary should appear first in the business plan. It should summarize the expectations
on what the business should accomplish. A good executive summary is compelling. It reveals the
company’s mission statement, along with a short description of its products and services.
We named our brand Lullabuy. Lullabuy is a Filipino brand name of children's apparel.
Lullabuy was derived from the word "lullaby" which means a soothing song or a music that is
usually sung or played to make children fall asleep. Lullabuy was coined to convey to people
that the company produces clothing for babies, infants, and toddlers ages 3 months old to 5 years
old. The company sells pants, shirts, shorts, sweaters, tank tops and overalls.
The target market of the company are the parents. The products were intended to let parents,
especially moms, to dress their kids like models or celebrities without compromising safety and
comfort. The company absolutely make sure that the materials used in creating each apparel is
100% high quality. We have chosen locally produced materials instead of importing, to lessen
the cost of production and make the products affordable.
In spite of the pandemic, the company will strive to make the products popular by using
different social media platforms. And to ensure safety, the buyers can have the option to
purchase the products online.
WEEK 3
NARRATIVE REPORT
During this week, we discussed about Management and Organization. We made an outline
of our organization set up. We have chosen to operate in partnership structure. The business
name Lullabuy was derived from the word Lullaby, which means a soothing song or a music that
is usually sung or played to make children fall asleep. We have decided to use the word Lullabuy
to make our brand more appealing and at the same time, could easily convey that our products
are specifically designed for babies. This business aims to help all mothers who are passionate in
dressing up their kids like a model. We also intend to offer fashionable clothes with a very high
quality that will make their kids feel comfortable. Our Mission at Lullabuy Clothing is to provide
our valued customers with the latest and high-quality pieces of clothing and also unique and
fresh design for both male and female kids, and pleasant yet inexpensive or affordable price
ranges. We are committed in giving our customers the freedom to show their personalities
through our outfits. Our Vision is to create long term relationships with the customers and make
our business sustainable with outstanding services. Employees would be needed to keep the
company running smoothly. The required staff and their qualifications are listed below. They
will be tested and interviewed to see who is the best candidate for the positions.
The Manager should be a graduate of any 4 years business related course, have at least 3 years
working experience, have Strong leadership qualities, it could be male or female with age
ranging from 27-40 years old. His/her duties and responsibilities are hiring employees,
overseeing daily operation of a store, creating business strategy, responsible for receiving
merchandise for the store and analyzing accounting and financial data.
The Dressmaker should have an excellent sewing skills, have an ability to create many different
design, a female with age ranging from 20-30 years old. Her duties are to create fashionable
clothes and to maintain the machine in good condition.
The Cashier must be a college graduate, have good mathematical and computer skills, with at
least 1 year work experience, male or female with age ranging from 20-28 years old. His/her
duties are to receive payment, issue receipts and compute the total sales at the end of the day.
The Sales person must be at least a senior high school graduate, have good communication skills,
must have a pleasing personality, male or female with age ranging from 20-28 years old. His/her
duties are to assist the customers, replenish the display, arrange the display properly, respond to
customer’s request or question.
The General maintenance should be at least high school graduate, male, 20 years old or above.
His duties are to perform routine maintenance on the store, perform general cleaning and minor
maintenance and provide assistance to the staff, visitors, and other employees as necessary.
WEEK 4
NARRATIVE REPORT
Since we’re already done in an overview of our company, our next move was to create a
Product/Service Plan. Here, we did a detailed breakdown of our products that we’re going to
sell, how long they could last and how they will meet existing demand. We have mentioned also
our suppliers, as well as other information about how much it will cost to make the products and
how much money we are expecting to bring in. Lullabuy Clothing is ready to provide excellent
service for valued customers, we aim to give the customers best satisfaction and affordable
prices of fashion clothes for babies. It will also provide free snapshot for customers who
purchase our products. The product is durable and with high quality that can make customers
satisfied. We will assure them to give the best quality of Lullabuy Clothing that can make them
patronized our beautiful and amazing products. Lullabuy clothing is not like the other retailer
items that are too thick or thin, we have our own style that make our products become unique,
our product are made of fabric that can make babies feel good and comfortable. Lullaby clothing
will give the babies the best and comforting clothing that will help them to comfortably move
and play. Aside from that, we used cotton fabrics to make baby's apparel highly absorbent and
soft suitable for their precious and sensitive skin. Most of our raw materials and other production
equipment came from Divisoria to lessen the production cost, then the others were from Lazada
and Shoppee because they sell items which are cheaper. We used some process and control in
creating our products, such as Design ideas - make a concept to create fashionable and elegant
clothes. Range review - this are created ahead of time to give retailers a visual representation of
what the fixture will look like with any planned changes. Samples - show what the design looks
like when finished. Production - this is the process where the Dressmaker starts to manufacture
the final design. The business will operate within a strategic place which is highly frequented by
consumers, and at the same time it is also the place where we will get the supply. The place at
which a company assembles the product, is often dependent on the distance from the source of
supply since decreasing the distance will decrease the cost and allow the price to be more
competitive. The consumers will also have an option to buy our products online. They can
search, find, compare, select, pay and get their merchandise delivered in days on their on-site
location. Access, immediacy and proximity is what set our company apart from the others.
WEEK 5
NARRATIVE REPORT
In our Market Plan we described how we intend to get our products in front of our target
customers. We break down here the steps that we will take to promote our products and the
budget that we will need to implement our strategies. On the first day of business opening, there
will be discounts and promos available on selected items to give them satisfaction and attract
potential customers to buy our latest product. Some of these promos are 50% discount to
customers who can buy 5 items of any type of clothing and we also offer Buy 3 Take 1, etc. Such
offers are only for the first day of business opening and will be repeated only on important days
such as Summer and Holidays. The business will produce and distribute printouts such as
posters, brochures and fliers that include the business's name, its vision and mission, as well as
all of the new products they are selling. By doing this, people would be aware of the presence of
the new business. Accounts and pages like Facebook, Twitter and Instagram are the most
popular and effective social media sites that a business will use to make it easier to attract other
customers. This form of marketing is low-cost but highly successful because almost everyone in
the target market has a Social Media presence, making it very easy to reach them.
WEEK 6
NARRATIVE REPORT
A business plan is nothing without a Financial Plan. Our financial plan covers a financial
outlook summary as well as forecasted income statements, cash flow statements and capital
expenditures budgets. This level of details also serves as reality check. We made a projection of
sales over the course of 5 years. And we also created a projection of expenses (i.e., rent, payroll,
taxes, utilities and equipments. We also made cash flow, this is a statement that shows physical
money moving in and out of our business. Then we had our projected net profit, we use the
numbers we used in sales forecast, expense projection and cash flow statement. Net profit is
gross margin minus expenses, interest and taxes.
WEEK 7
NARRATIVE REPORT
The clothing line called "Lullabuy" offers Products that focus on the comfortability yet at
very affordable price for mothers that wanted to make their child a fashionable baby. Designs,
colors, or even the textile will be offered for the customers or suppliers for them to be able to
choose or have their own concept of design that they wanted. Affordability and comfortability
are what mothers always want for their babies, so it is favorable for them to have a clothing line
like ours that prioritized the comfortability, affordability and quality materials. We will make
sure that our clothing line will have an accessible store where the customers will find something
new that they want. Excellent vendor relationship that will facilitate quick shipment of orders.
Establish an effective strategy for advertising to our target customers. Create a store image that
our target customers sees as both attractive and trendy.
WEEK 8
NARRATIVE REPORT
Business Plan Video Presentation provides a great opportunity to reach out to interested
investors. The business plan is essentially our goal for expanding our business, with clear
information on the what, why, and how of making our business stronger. Preparing a business
plan and getting it ready for a video presentation requires some time and effort, but a well
presented business plan can draw investors and provide support to our company, so we will do
our best to create an excellent video presentation.
WEEK 9
NARRATIVE REPORT
Presenting business plan on video means we will not be interacting face to face with our
audience who are receiving our message. Therefore, we should plan in advance and make a good
Preparation for Business Plan Presentation. We made a PowerPoint presentation, and there
we organized the different information pertaining to our business. We review before delivering
the final version of the video presentation. We checked meticulously to make sure that every
detail is correct and that our presentation is remembered for its impact, and not for any errors.
For our presentation to go off as we want it, we practice with friends and family members.
WEEK 10
NARRATIVE REPORT
Our Business Plan Virtual Presentation was held last March 16, 2021. We used a
PowerPoint presentation, which was composed of 38 slides. All of us have participated in
explaining each of the elements of the business plan. We have two panelist namely, Sir Jerdel De
Lara and Sir Jeff Arnaldo. After the explanation, we then proceeded to the question and answer
portion. The question that were asked was answered by the person in charge to that topic. One of
the questions was- what is the importance of a business plan? We answered: Business plan is an
important tool that gives entrepreneurs the ability to lay out their goals and track their progress as
their business begins to grow. It should be the first done when starting a new business to make
business ideas succeed. It also helps them to achieve short-term and long term-objectives. It can
also be used to secure investment capital from financial institution or lenders, to convince people
to work for the enterprise, to secure credit from suppliers and to attract potential customers.
Another question was- What do you think are the common reasons why some businesses fail?
We answered: Some of the reasons might be because of stiff competition, it’s tough to generate a
steady profit when you have a lot of competitors in your space. It could also be because there is
no market need, no one wants the product. Or maybe because some entrepreneurs price their
products too high or too low, both scenarios can be a recipe for disaster. Another question was-
Many business owner say it is better to put up a business that you passionately want, do you
agree with it? We answered: Many businesses are created out of passion, and while passion can
be a great motivator, it’s not always a great proof point. Planning out exactly how you’re going
to turn that vision into a successful business is perhaps the most important step between concept
and reality. Business plans can help confirm that the grand idea makes sound business sense. As
far as I can remember, I think those questions among many other, are basically the most
important question that we have answered.
