Product Development - The Commuter Coat

The Commuter Coat Prepared for: Mick Broadhurst, Mark Bradshaw, Julia Ling Group B Prepared by: Emily Hyde, Chair Rosie Webbon, Finance Lotte Ball, Procurement Lauren Corrigan, Marketing Jilda Thomas, Design Lacey-Jayne Matthews, Design Niamh Lucey, Technology Charley Hassett, Technology

!1

Table of Contents Introduction ………. p3 The Company ………. p3 Concept Development and Testing ………. p4 Marketing Strategy ………. p6 Technology ………. p8 Procurement ………. p9 Testing Standards ………. p10 Ethical and Environmental Considerations ………. p11 Finance ………. p 13 Future Product Development ………. 16

!2

25 April 2016

EXECUTIVE SUMMARY Introduction Initially a task was given to consider the development of a clothing garment from a new product strategy to physical end garment. Developing a new innovative product takes determination, patience and flexibility when working within a diverse group, however the end result is extremely rewarding. This report will explore the practical overview of creating a new product from concept to design, to production and distribution of the final garment.

The Company The concept of Eleven began with the team brainstorming how to create a product desired by a wide market base, while bringing manufacturing back to the United Kingdom. The premise of the Commuter Coat came from the absence of a fashionable yet functional coat for the modern woman.

Eleven is an innovative and creatively driven apparel company that strives to deliver high quality product, to a continuously growing customer market. Today, clothing comes from all over the world, and has travelled more then most commuters will in a lifetime. Eleven is passionate about not only the clothing they produce, but the environmental impact created by the clothing’s long journey. Therefore, Eleven has brought the manufacturing process back to the United Kingdom. This move ensures that the product can be watched closely throughout production, better keeping our customers informed. Eleven would be a transparent about every aspect of the company, maintaining a personal relationship with the customer and ensuring they are informed along each stage of the production/creative process.

Eleven would be a limited company that working on a B to C basis, offering the product straight from the business to the customer. By cutting out the middle man and using an online platform to retail the Commuter Coat, the company can sell the product directly and at an honest price to the customer. This is the ethos Eleven puts into every one of its products.

!3

Concept Development and Testing The concept of the Commuter Coat was derived from a preliminary meeting where a number of ideas were discussed and explored. Some ideas discussed and discarded in this meeting included; ✦

Shoes that mould to the wearers feet, however upon further research is was discovered that similar products existed on the market so this would not have been a viable venture.

✦

Biodegradable clothing, although this is innovative and a widely discussed topic in today’s fashion and textile industry it was thought that it was not a realistic possibility at this point in time.

The complete conceptualisation of the Commuter Coat came from a number of ideas put forward in the preliminary meeting. The decision was made that as this would be a fashion coat, the safest and most advantageous customer would be women. This unique product was therefore was chosen for the following three reasons; there is gap in the market, the market for this particular product is increasingly growing with more women entering the business and commuting world, and as discussed below there is an obvious desire for the product. Research was carried out comparing coats of a similar quality intended for the Commuter Coat and it was concluded that as this was a unique product to the market Eleven were able to retail the coat at £350.00. Although some had reservations that this many have been too high a price, with the quality and innovation of the technology as well as third party confirmation, this was in fact a reasonable price for the Commuter Coat.

Initial designs changed after receiving feedback from a third party; as the primary design for the coat had a full skirt which would have proven difficult to unzip and carry around. The design team then created a second drawing that featured a slimmer and shorter bottom portion of the coat. At this point it was then decided the coat should be made available in three popular business colours: black, navy and camel. In addition to these colours it was decided that if Eleven reached a stretch goal on Kickstarter of £65,000.00, that the fashion colour Oxblood would be made available.

In order to establish a true target market, a questionnaire (Appendix 1) was conducted online to gather further understanding of the age range of the customer as well as their needs and wants. At the outset the target market was considered to be 25 to 45 years of age. In total there were 55 responses to the questionnaire, 41% were within the original intended target market. However the general consensus of the respondents as well as the input from a third party concluded that the age range of the target market could be extended from 25 to 55 years of age. The questionnaire was posed to a wide range of men and women, and although this gave a diverse variety of responses it was concluded that focus groups needed to be carried out to further our understanding of what the customer require from the product.

!4

To ascertain further information about the product in relation to the customer’s lifestyle, two separate focus groups were undertaken. The first focus group was conducted with eight women ranging from the ages of 16-24 years old. Originally there was some concern regarding how the younger audience would view the Commuter Coat, therefore the focus group was conducted in an informal setting to encourage an honest response from the participants. The group was queried about what style and features they believed were important and influenced their buying decision. The overarching results concluded that the most sought after attributes were; high quality product, a well fitted garment, and style adaptable to everyday life. The individuals were then shown the initial designs for the coat and asked what they reflected on being the most integral characteristics of the Commuter Coat. The younger audience deemed the phone charger as the key feature of the coat. This was further confirmed by several members of the group explaining that they experience stress when their phones has little or no charge as this leaves them feeling disconnected from the social media world.

Secondly, the feature they mentioned having merit was the oyster/contactless pocket as this would streamline not only the commuting process but everyday life occurrences such as purchasing coffee or lunch on the go.

Although not all the members participating in this focus group commute to work or school it was agreed that the two-in-one function of the coat was still desirable to this younger audience as they could wear the longer coat throughout the day, while the blazer could be used for socialising when with friends in the evening. The final point discussed was in relation to the price of the Commuter Coat, and although all in this focus group agreed that they could not afford this coat currently, that it is a product they would aspire to purchase in the future.

The second focus group undertaken with women 30-55 years of age. This was the intended customer for the Commuter Coat. The focus group was held in semi-formal setting to ensure that the answers received were truthful and not a polite but misguiding answer. The overarching result from these participants differed from the first focus group as these women are in a different stage of the life cycle. This focus group revealed that the most valuable feature was that it would be machine washable. Many of the women exclaimed that the drycleaner is not only too expensive, but that they do not have time to take their clothing to one, therefore they veer away from purchasing dry-clean only clothes. Also considered as another key attribute was the two-inone feature. Many of the respondents who commute everyday carry a blazer as well as a jacket to and from work, sometimes causing them to take multiple bags on the tube or bus which takes up more space and is highly inconvenient. This innovative feature ensures that the commuter can cut down on the baggage they carry on a daily basis, not only making it easier to commute but to stay stylish while doing so. In addition, a separate point was brought forward that this coat would allow todays business women to seamlessly transition from work to play, from alarm clock to last call, while allowing them to stay stylish in non dry-clean wool coat which has not been achieved by other products on the market. The charging feature was greeted with enthusiasm, however it was not seen to be as significant a characteristic as the above focus group deemed it

!5

to be. Although all the focus group advised that they would use the charger, they agreed if the Commuter Coat was made without the charger they would still purchase it with no hesitation. As for the price of the Commuter Coat the response was positive, as these women have purchased similar coats without all the advanced technological attributes in mid-market high street retailer such as Reiss and Ted Baker.

In conclusion, the two focus groups, although very different on their view have endorsed the Commuter Coat and encouraged its production. This overwhelming response to the product has made it apparent to Eleven that this coat is a feasible venture for the company and paves the way for future exciting developments.

Marketing Strategy Following on from the information gather from the questionnaire and two focus groups, Eleven was able to derive the customer profile for the Commuter Coat which pertains to the demographic below.

Demographic ✦

Gender – Female

✦

Age – 25 to 55 years

✦

Life stage – Highly Educated Independent Individuals (HEIDIs)

✦

Professional business women

✦

Income – £30,000.00 +

Psychographic ✦

Lifestyle – Fullfilleds; more mature, responsible and well educated women. Open to moderate levels of fashionability, they mind spending money on high faulty items

✦

Self-image – Value education, independent, forward thinking, takes pride in their appearance

✦

Purchasing behaviours and motives – Appreciates timeless pieces, invests in their wardrobe, incorporates the timeless pieces with on-trend styles

✦

Interests and hobbies – Enjoys shopping, reading magazines such as Marie Clare, Vogue, and Glamour, dog walking, swimming, tennis, yoga and pilates, charity work

Geographic ✦

Region – In city or surrounding areas

✦

Urban and suburban

✦

Housing – Detached or semi-detached house

✦

Climate – Temperate maritime weather, mild but cool winters and summers generally not reaching higher than 30 º c

Usage and Benefits

!6

✦

Benefits sought from the products – Two-in-one innovative machine washable wool coat with charger pocket and oyster/contactless card wrist pocket

✦

Usage rate – Used on a daily basis taking the customer from alarm clock to last call

✦

Brand loyalty – Very loyal to brands they perceive as worth while

Considering all the data collect through the questionnaire and the two focus groups Eleven’s marketing strategy became apparent. The company planned to use the crowdfunding platform Kickstarter to raise funds as well as promote the Commuter Coat. In addition to Kickstarter, Eleven plans to use social media channels such as Instagram to inform the customer about promotions, exclusive events and new products. Eleven would have a Facebook page that would allow the customer to connect to the company and encourage them to ask questions directly to employees. A further online platform Eleven would utilise would be YouTube which would enable the customer to see behind the scenes videos and podcasts to keep with the transparent nature of the company. Although these online mediums would be available to all Eleven clients, these particular devices would appeal to the younger target market, such as those involved in the first focus group who mentioned staying connected through social media was incredibly important to their lifestyles.

Eleven would target commuters who frequently use their smartphones and tablets whilst travelling to read magazines, check emails, and browse social media, therefore an obvious method of marketing. It was decided in conjunction with the second focus group’s responses, who stated they frequently read magazines through their smartphone and tablets, as well as received emails from these magazines that Eleven would advertise through these mediums. The magazines chosen by the company were Glamour, Marie Claire, and Vogue as these would reach a wide variety of customer spanning all ages. The marketing method used within Glamour would be monthly mentions of the company in their emailed newsletter, as well as having a weblink on their tablet magazines in the months of October, November, December, and August. The Commuter Coat would also be mentioned in the banner of the emailed newsletter of Marie Claire each month. In addition to these marketing techniques Eleven would sponsor the emails of Vogue to their subscribed customers every other month for the year. These combined marketing strategies would allow Eleven to advertise the Commuter Coat across all mediums the targeted customer will use, as well as informing new customers of the ingenious product and hopefully drawing them in to purchase the coat.

The Commuter Coat would be launched in September 2016, and to honour this occasion Eleven would bring the coat to the customer by offering pop-up shops around several locations in London, with the entire Eleven team present. These locations would be in and around the business districts of London to ensure that all potential customers would be able to see and try on the Commuter Coat. It is important to allow the customer

!7

to feel and experience the coat as this would entice them to purchase the product, as well as use word of mouth to reiterate the quality and strong customer service Eleven provides to it’s valued customers.

Eleven understands the importance of using a variety of marketing strategies to reach the vast customer base.

Using the knowledge gained from the focus groups allowed the company to make educated decisions on where the focus of the marketing campaigns should be situated. As the brand grows in success, other forms of advertising would be considered in order to expand the customer base, however the above marketing platforms would be used in conjunction with the new strategies as these would be the core methods of the company.

Technology Considerations were made into the technologies most applicable to the Commuter Coat, including pricing, functionality and practicality. During the preliminary meetings a technology called QTC or Quantum Tunnelling Composite seemed to be the most feasible option. This technology uses metal-filled polymers which can change from insulators to a conductors when pressure is applied (Open Materials, 2015). This means when the pressure is applied to QTC the electrical resistance drops allowing electrons to pass through the material (BBC, 2014). Quantum Tunnelling Composite is therefore used to create touch-sensitive fabrics, meaning when the pressure is applied to the garment, the mental in the QTC becomes a conductor allowing a device to be charged (Nuffield, 2012) . Further investigation into the Quantum Tunnelling Composite for the Commuter Coat was deemed useable as it would not have beneficial financially, creating a loss of profit for the company.

The stylish design of the Commuter Coat alongside the functionality of it incorporates a removable, rechargeable battery which allows the wearer to charge their portable devices on the go. This innovative technology would be perfect for the busy professional commuter that find their portable device needs to be charged throughout the day. The optional USB outlet allows the user to charge any device so long as the correct cable is provided. This permits the charger to be used in a variety of ways, and in turn appeals to a wider market.

The technology incorporated in the Commuter Coat is small yet powerful. This charging unit is the size of a credit card (98x62x7.2 mm) and would be hidden inside one of the pockets of the coat. However this unit would be easily removable when washing the coat or if the battery needs re-charging; this removable feature to the battery allows the wearer the option of removing the battery from the lower portion of the jacket if they so wish. The change in charging technology from Quantum Tunnelling Composite to the slimline re-chargeable battery ensures the lower half of the Commuter Coat is less bulky and more practical to detach, fold up and

!8

slip into a work bag.

A technology Eleven has considered, is the Hydrogen Fuel Cell which generates electricity from a chemical reaction, combining hydrogen with oxygen to create an electrical current (Fortune, 2016). In a perfect world, this would be the technology Eleven would prefer to use in all of their products including the Commuter Coat and any further ventures. The drawback to including this in the Commuter Coat is that as the Hydrogen Fuel Cell is an extremely new product to the market and is exceedingly expensive. On average, the Hydrogen Fuel Cell charger costs £180.00 and holds a cartridge which holds five charges costing £8.00 per unit. As the product develops and the company grows, Eleven will offer the Hydrogen Fuel Cell as an optional purchase alongside the coat at an added cost.

Procurement To source the components of the jacket, a number of things needed to be considered. To keep with the ethos of sourcing and manufacturing in the United Kingdom, the company would try to ensure all components of the Commuter Coat were found within the United Kingdom. In terms of the fabric for the main shell many options were contemplated. The desired fabric was 100% machine washable merino wool. This fabric in its woven state would be a suitable fabric for regulating body temperature through different weather conditions. Through further research, it was concluded that sourcing the fabric within the United Kingdom would not be possible.

The raw fibre could be purchased from a number of different countries, spun, treated, then woven into a grey state fabric. The fabric could be bought already woven and pre treated with a Shrink Resistant finish or the yarn could be bought treated with a Shrink Resistant finish and then woven into a fabric. As for acquiring the desired colours for the Commuter Coat, two options would be available; having the product piece dyed after the garment has been made up, or dyeing the woven fabric from a grey state then having the coat produced.

The final decision concluded that the finalised fabric procurement would be Italy for the wool, and the United Kingdom for lining and trimmings.

After many discussions with the group and third party input, it was decided that the final fabric used for the coat would be a 100% merino wool, with a polyester lining. This fabric and final product would need to be tested before it reaches the market, as every company within the United Kingdom has to follow British Standards for testing to determine if the product is fit for end use. As a small independent business, Eleven would not be able to carry out the extensive tests required by British Standards, therefore the tests would be outsourced to an experienced laboratory. These tests would be carried out in controlled conditions for consistency of results. The standard atmosphere for testing textiles is 20°C plus or minus 2°C and a humidity of 65% plus or minus 4% (Davis 2015).

!9

Testing Standards To ensure that Eleven met all the criteria set out by British Standards, the following tests would need to be carried out on the fabric and the final product to ensure they are fit for purpose and conform to standard W02.

To be certain that the Commuter Coat complied with a high standard and superior quality expected of a coat of its calibre, it will need to exceed the average standards. Colour accuracy and continuity would be a strong factor in acquiring, maintaining trust, and ensuring customer loyalty. As the Commuter Coat would be sold online, it is important that the colour on the images accurately represent the true colour of the coat to avoid returns.

One of the main selling points for the coat is that it will be machine washable. Therefore, the fabric will have to undergo a colourfast to machine washing test BS EN ISO 105-C06:2010, which is designed to determine the colourfastness and not intended to reflect the results of comprehensive laundering procedures (Davis, 2015).

This would be tested using a multi fibre strip at 40 degrees. It would be expected that the shade change would be no higher than a grade 4 and for the dye to stain below 3/4. Other colourfastness tests would have to be carried out in terms of light BS EN ISO 105-B02:1999, this is tested by prolonged exposure to daylight, or more rapidly by suitable exposure to artificial light (Taylor, 1994). Water BS EN ISO 105-E01:2010, which determines the resistance of colour of textiles to immersion in water (Davies, 2015); and rubbing BS EN ISO 105-X12:2002, to determine the colour fastness of textiles rubbing off and staining other materials (Davies, 2015). These tests would ensure that the dye used does not transfer or fade under any circumstances. In the stability to washing test BS EN ISO 6330:2002:2009, this would ensure that no change occurs to the fabric either reduction (shrinkage) or an increase in length drumming a washing cycle (Davies, 2015). A tumble dry stability test is expected to yield results ensuring that the fabric would not distort an excess of +/- 3%.

To test the durability and strength of the fabric, the following tests would need to take place; Tensile strength BS EN ISO 13934-2:1999 grab method, to ensure the Commuter Coat has the appropriate strength to undergo daily tasks as well as washing. The required outcome of this test is to be a minimum of 140N in warp and weft, tear strength BS EN 13937-1:2000, the tearing strength is much less than tensile strength; where a large number of threads must be broken together, hence the more easily the yarn slip, the greater the tearing strength (Taylor, 1994). It would be expected that this test will display results no less than 1200cN in the warp and weft.

Abrasion BS EN ISO 12947-2:1999 will be tested using the Martindale method which places the fabric under a defined had and are rubbed against abrasive mediums (Davies, 2015). This should yield an end result of 2 threads at 15,000 revs. Pilling BS EN ISO 12945-1:2001, the pill box method will be used for 5 hours (Davies,

!10

2015) and the fabric should be a grade 3-4. Seam strength BS EN ISO 13935-2:1999, the grab method. This particular method would need to be tested to ensure product is durable during wear. The final test the Commuter Coat would undergo would be Seam slippage BS EN ISO 13936-1:2004.

The above tests outlined the standard for tailored coats. However, additional tests could be carried out and are recommended to ensure the high quality of the product. Snagging resistance BS 8479:2008 using the mace snag test. A spiked ball (mace) is suspended by a chain and allowed to rest on the fabric sample, which during rotation bounces on the fabric in a random manner (Davies, 2015). It is expected a high quality coat to yield a grade 4/5. The final test to be undertaken in the lab is the appearance after washing test. This would be done using an in house method that mimics the standard washing machine in the household. This is particularly suitable as the coat would be machine washable and should be able to sustain multiple washes without compromise to the shape.

The wearer test, a type of social test; could be undertaken to ensure that the Commuter Coat is fit for end use.

This could be done including a select few participants from the focus groups to ensure the product is fully suitable to their needs and expectations. This would then generate the critical feedback that could subsequently be improved upon before the Commuter Coat goes into full production.

In conjunction with all the above tests the care label for the Commuter Coat would read: ✦

Made in the UK

✦

Shell 100% Merino Wool, Lining 100% Polyester

✦

Machine Wash 30°C

✦

Hang to dry

✦

Iron on Low Temperature

✦

Do Not Bleach

Ethical and Environmental Considerations The Commuter Coat would be manufactured in the United Kingdom. This a conscious decision made by the brand to lower carbon emissions that come from areas such as air miles and freight. This change of manufacturing location from usual trade destinations such as China, Taiwan, and Bangladesh ensures that all stages of the manufacturing process could be monitored closely. Should any issues arise in production, these can be dealt with quickly and effectively without the miscommunications that comes with long distances between the manufacturer and the company. In addition to all the positives listed above, using a manufacturer

!11

based in the United Kingdom will reduce lead times for the product. These changes to the manufacturing significantly reduces the amount of carbon emissions the company would be responsible for. This decision would benefit the company financially as well as there would be less distance to travel to manufactures, which is subsequently less expensive.

It is important to Eleven to be familiar with the supply chain and strive to eradicate problems such as bad working conditions and child labour. Manufacturing in the United Kingdom allows for a more transparent supply chain. Response times are better with freight, import charges eliminated and lead times shortened allowing greater flexibility. The chosen manufacturer for the Commuter Coat would be Bridge & Stitch. This boutique manufacturer is located in Nottingham, and is committed to assisting fashion companies throughout the whole production process. Their mission is to support the United Kingdom’s manufacturing industry, offering a straightforward entry route for clients looking to benefit from the Made in Britain label; with the aim of providing a reliable service offering bespoke garments that encompass all stages of the manufacturing process. From concept to product, they have a goal to make United Kingdom production more accessible to a wider range of clientele with varying requirements. The ethos set out by Bridge & Stitch is parallel to the core values of Eleven, which is why this would be a successful partnership for the production of the Commuter Coat.

The employees of Eleven would be paid a living wage, which is referred to as Minimum Wage in the United Kingdom if the employees are under 25 years of age, or the National Living Wage if they are over said age. The above are governed by laws to avoid the mistreatment of working citizens. Under United Kingdom legislation, the Working Time Directive states that a person is not allowed on average, to work more than 48 hours a week (Gov.UK, 2015). Should an employee opt to work more than 48hours a week, it is a contractual agreement that is regulated by the government. An employer may ask a member of staff to work more than 48 hours but the employee is free to decline and cannot be dismissed on the grounds of their declination.

There would be no guarantee that a factory abroad was treating their employees fairly. Although the standards of a factory may be pristine in terms of cleanliness, professionalism and product output; it may not be the policy in a certain country to pay a liveable minimum wage. This could result in the manufacturers’ workers being paid below the cost of living and be left struggling to bridge the deficit. Although the cost of hiring workers within the United Kingdom would increase the company’s expenditure, there would be a significant decrease in the cost of distribution from the supplier to the manufacturer, from there to distribution centre, and finally to the customer. A further benefit to hiring workers in the United Kingdom would be that the company would not be using child labour or any illicit labour unknowingly due to strict protocol within the country.

At least once a year an external certification body, which operates under the ISO governing body of standards

!12

would audit the company regardless of its size. This is done to regulate the company’s practices and is for the business’s benefit (Gov.UK, 2014). Examples of affairs examined during an audit would be; treatment of employees, the employees pay, company tax returns, standards of health and safety within the business, and in a manufacturer’s case, testing methods and appropriate disposal of effluent and any other form of waste generated during production. Destructive by-products would be damaging to a developing country’s poorer population, especially in the case of water pollution as it can become diseased affecting animals and in turn, people resulting in many health problems and even death. There are ways to ensure a factory is being mindful of their methods of disposal, however this is made easier if the regulation of the country already monitors these standards such as in the United Kingdom. This monitoring body is one of the many reasons Eleven would chose to produce the Commuter Coat in the above country.

Pollution prevention guidelines exist and are published by the government. These bodies are called the Pollution Prevention and Control, and outlines actions which must be undertaken by a company/business in the riddance of any by-product of manufacture (Gov.UK 2014). Waste pollution is almost unheard of in the United Kingdom as a result of these strict laws that have been in place since the year 2000. The merino wool yarn that would be used in the Commuter Coat would not be sourced or spun in the UK. However the fibre would be imported from Italy where the supplier would have to adhere to the European Union’s policies which are similar to the aforementioned policies.

As Eleven would be keeping the majority of the manufacturing process within the United Kingdom, this would affirm the transparent reputation, as well as create a number of job opportunities for skilled workers. There would be the opportunity for a potential tax break and enterprise grant received by Eleven for manufacturing in the United Kingdom from organisations such as the Department of Communities and Local Government (DCLG), which is a government organisation that invests in national enterprises. This would create a positive stigma for the company from manufacturing within the United Kingdom; as this is seen as supporting the economy, creating jobs which in turn would give the employees higher disposable income to spend in their local businesses.

Finance When creating a product it is crucial to consider the financial implications of the venture. Since conceptualisation of the Commuter Coat and throughout the development process finance has been a deciding factor contemplated upon. Several spreadsheets have been created (Appendix 2) as a means to examine the profit potential as well as the external costs of producing and retailing the garment.

!13

In order to gather a realistic interpretation of both the first year turnover, sales projections and in turn profit, a profit and loss sheet was created. The cost price and the retail price of the coat, as well as the cost of distribution were considered when the turnover for the first 12 months was produced. As previously discussed, the retail price of the Commuter Coat is £350.00, this compared to the cost price of the product means that there is a mark up of 94%. Included below is a breakdown of the costs associated with manufacturing the coat.

Summary of Individual costs Cost Yarn per kilo Yarn treatment Manafacture of one unit technology per unit Total cost price per unit

£2.00 £7.00 £2.00 £10.00 £21.00

The total cost of marketing throughout the first year of business had to be calculated and broken down so it could then therefore be included in the expenditure table. This breakdown of marketing costs is presented in the table below.

Summary of Individual costs Marie Claire emailed newsletter banner Glamour emailed newsletter banner Glamour tablet weblink Vogue email sponsorship

Cost £20.00 £45.00 £500.00 £65.00

As discussed in the marketing section of this report, careful consideration was made into how the Commuter Coat would be advertised, the total expenditure of marketing during the first 12 months would amount to £3170.00.

!14

Also included within the expenditure calculations is the total cost price of distributing the product to customers located within the United Kingdom. The total expenditure of distributing the Commuter Coat to customers in the first 12 months, considering the sales projection would amount to £1908.00.

To calculate the turnover for the first year, realistic projections of sales from the coat were determined. The projected amount of coats bought by customers within the United Kingdom was estimated at 318, together with the coats sold to international customers; 157, this would mean the first year’s sales would equate to £170,250. Regarding this figure it was decided that in the first year, 550 garments would be manufactured. As Eleven would use the crowdfunding platform; Kickstarter to raise initial funding for the project and would expect to raise £45,000, this amount was factored into the turnover. These three figures were combined to make the total income for year 1; £211,250.00.

The expenditure for year 1 was also calculated. As a Ltd, company, Eleven would be required to pay each employee a wage, so therefore wages were considered in the fixed costs. This would be £20,000 per annum for each Eleven employee, this figure was discussed in the preliminary group meeting, with each member of the group deeming it a suitable wage. Fixed costs also included, the cost of renting an office premises monthly in Leicester; a highly accessible city located in the Midlands. Following research regarding several office buildings within the city a high rise costing £829.00 a month was decided upon. Alongside rent, both contents and public liability insurance were added to the fixed costs, these would be crucial for Eleven to invest in as the garments will be stored on the premises pre distribution. As advised from a third party the cost of contents insurance was estimated at a monthly sum of £208.33 and public liability insurance at £50.00 each month.

Other fixed costs included electricity at £89,43 each month and the internet and phone line which would be provided by Virgin Media, who estimated it would cost £17.99 each month.The variable costs of Marketing, Garment manufacture and garment distribution were included in detail in the above paragraph. Laptops, which would be provided to each employee were factored into the one off costs, after searching for inexpensive yet practical models it was decided that the budget for laptops would be set at £1839.92. Finally, miscellaneous costs, which are equivalent to 20% of the total yearly expenditure was added to account for any unexpected spending that could occur during the year.

Using the projected turnover figures alongside the expenditure costs, a summary was formulated to present the amount carried forward and backwards after the first year of trading. This summary showed that after year one Eleven would be at a loss of £20,007.86. Considering this, a three year projection spreadsheet was calculated so it could be certain that the Commuter Coat was viable financially. This showed that after projected sales in the second year of 625 units the company would be at a loss of £10,139.01. However in the third year it was calculated that a profit of £37,880.64 would be made, due to 810 projected unit sales. This

!15

therefore means that the venture and production of the Commuter Coat would be viable and profitable financially.

Future Product Development During the process of designing and developing the Commuter Coat, as well as creating a marketing strategy considerations would made concerning the development of both the product and the brand in the future.

Following on from the Commuter Coats predicted success, it was decided that the brand would give thought to further products such as; a menswear coat, laptop bags, and chargeable handbags to reach a wider market. However, as it is seven times more expensive to acquire new customers, it would be important to create product that would appeal to Eleven’s existing customer base. Items like this would include offering new styles of coat, such as a trench coat for warmer weather, or a heavier winter jacket. Considering the financial cost of producing additional products it was thought that Eleven should only go into product with these new items once a substantial profit was made from the Commuter Coat. Together with the predicted advances in technology and the creative heart of the company, Eleven would flourish in today’s and future markets.

!16

References BBC (2014) Bitesize Design and Technology, http://www.bbc.co.uk/schools/gcsebitesize/design/electronics/ materialsrev5.shtml [Last accessed 21.04.16] Davis A. (2015) Handle and Durability, De Montfort University Fortune (2016) This New Tech Could Power Smartphones of a Week, http://fortune.com/2016/02/09/ smartphone-fuel-cell-battery/ [Last accessed 20.04.16] Gov.UK (2014) Audit, accounting and reporting https://www.gov.uk/guidance/audit-accounting-and-reportingguidance-for-uk-companies [Last accessed 20.04.16] Gov.UK (2015) Maximum Weekly Working Hours, https://www.gov.uk/maximum-weekly-working-hours/ overview [Last accessed 20.04.16] Gov.UK (2014) Pollution Prevention Guidelines, https://www.gov.uk/government/uploads/system/uploads/ attachment_data/file/485199/pmho1107bnkg-e-e.pdf [Last accessed 20.04.16] Nuffield Foundation (2012) QTC - the discovery of a novel material, http://www.nuffieldfoundation.org/ practical-physics/qtc-%E2%80%93-discovery-novel-material [Last accessed 21.04.16] Open Materials (2015) Quantum Tunnelling Composite, http://openmaterials.org/materials-101-quantumtunnelling-composite/ [Last accessed 21.04.16] Taylor M. (1990) Technology of Textiles Properties, London, Forbes Publication

!17

Quick Report Appendix 1 Age 15-24 All Data

25 (45%)

15-24

25-34 14 (25%)

25-34

35-44

45-54

3 (5%)

6 (11%)

35-44

!18

45-54

55-64 6 (11%)

55-64

65+ 1 (2%)

65+

Standard Deviation

Responses

8.15

55

Sex Male

Female

13

39

(25%)

(75%)

All Data

Male

Standard Deviation

Responses

13

52

Female

Household Income Less then

£20,000 -

£35,000 -

£50,000 -

£80,000 -

£100,000 or

Standard Responses

£20,000

£34,999

£49,999

£79,999

£99,999

more

17

14

9

8

2

3

(32%)

(26%)

(17%)

(15%)

(4%)

(6%)

All Data

Deviation 5.4

Less then £20,000

£20,000 - £34,999

£35,000 - £49,999

£50,000 - £79,999

!19

£80,000 - £99,999

£100,000 or more

53

Employment Not Employed part time working less than

Not

Employed full time working 36+

employed,

employed, not

hours per week

looking for work

looking for work

35 hours per week

Not able Retired

Student

Standard Responses Deviation

to work

14

25

0

0

3

12

1

(25%)

(45%)

(0%)

(0%)

(5%)

(22%)

(2%)

All Data

8.81

Employed part time working less than 35 hours per week

Not employed, not looking for work

Employed full time working 36+ hours per week

Retired

Student

55

Not employed, looking for work

Not able to work

How often do you shop for clothing?

Once a week

Once every two weeks

Once a month

Once every few months

Once a year

6

12

15

20

2

(11%)

(22%)

(27%)

(36%)

(4%)

All Data

Once a week

Once every two weeks

Once a month

!20

Once every few months

Once a year

Standard Deviation

Responses

6.39

55

On average how long does your commute take?

Text Responses 30 minutes 20 minutes 25 minutes 35 min each way 5 minutes (I work from home) 30 mins 45 min 25 minutes 30 minutes 20 minutes 15 mins 20 minutes 1 hour door to door 45 minutes 5 minutes 20 minutes drive 5 Minutes 20 mins 30 seconds 10 minutes walk 5 minutes 20 minutes 10 minute walk 30 mins One hour and 45 minutes 20 minutes 50 minutes 1hour 4 mins 15 min 1 hour 20 minutes 30 minutes 10 seconds 30mins 20 mins 0 15 mins.

15 minutes 20 minutes 30 minutes 10 minutes 30 minutes I work from home.

50 minutes 10 minutes in Not applicable 10 min 40 min 45minutes 20-25 minutes walk to university 20mins 20 Minutes 20 minutes 30 minutes

!21

What mode/s of transportation do you normally use to commute?

Text Responses Car Car Car Car feet Car Subway, streetcar metro Bus Car Car Car Train car or bus feet, walking Car Walking Car Walking Walk Walk Car walking car Car Car Car Car Foor Walk Train Car Tranist, bike Walking Bike, public transit Train Walking Walking. car Bus Automobile Car, bus, walk Car Car. Car Car Car Car Tube and bus Train & tube Walk or bike Car Car Car car

!22

How often do you have to charge your phone per day?

Text Responses Twice Not more than once per week Twice 1 once overnight Every night Once once, at night.

Once Twice 1 Ounce Just once over night daily once Once, on an evening Once Once 1 Everyday Once 2 twice a day once Every night, sometimes during the day Once 2 1-2 Once Once Once None, charge every night once Twice Once Twice 1 Once. once 2/3 once a week.

1 Once Once.

Once in the morning Twice Once 1 Once once 1-2 times a day 1 Once Once once

!23

Where do you normally shop for clothing?

Text Responses Highcross Leicester High street Meadowhall Chester Next, H&M, Matalan, local boutiques if I have some money Online Scotch and soda H&M Forever 21 Boutique shops Vintage shops The mall In store, Online highcross City centre Superdry ,John Lewis ,all saints,pilot,cruise Online mainly Marks and Spencer, John Lewis, Debenhams or small independent shops. reiss, whistles, toast, karen millen, jigsaw and charity shops Topshop, New Look, sometimes River Island Online Shopping centres Top man, Zara, Jcrew Asos Next Sirens high street or online Shopping centre asda Dorothy Perkins, next, new look, Sainsburys High street stores/Online New Look Selfridges, Zara Leicester Online Matalan, Tesco, TkMaxx, Burton, M&S, Primark high street stores Aritzia lululemon local storefront shops on main street, downtown mall Misguided or ASOS Cheap and trendy stores, clothing swaps, consignment stores Topshop, river island, primark Online For clothes: Newlook, Dorothy Perkins, Miss Selfridge. the mall Very.co.uk, asda, adidas, Walmart Top shop Online Winners, Anthropologie, Loft, Simons, The Bay Highstreet- topshop, h&m Next, JD, Office, USC The mall M&S and Next Topshop Superdry m&s john Lewis and jack wills Urban Outfitters Topshop, oasis, ted baker online, topshop and ASOS

!24

How would you describe your style? (Choose all that apply to you) Fashion Forward

Classic

Minimalist

Trend Following

Bohemian

Glamorous Preppy

Arty

Casual

Sophisticated

19

5

11

10

5

4

3

7

30

14

(35%)

(9%)

(20%)

(18%)

(9%)

(7%)

(5%)

(13%)

(55%)

(25%)

Responses

All Data

55

What is your opinion on purchasing dry clean only clothing?

All Data

I don't mind dry cleaning

I don't mind dry cleaning

I would purchase some dry clean clothes, but would prefer not to

I try not to purchase dry clean clothes

10 (18%)

27 (49%)

12 (22%)

I would purchase some dry clean clothes, but would prefer not to

I do not want to purchase anything that requires dry cleaning

!25

I do not want to purchase anything that requires dry cleaning

Standard Deviation

Responses

7.95

55

6 (11%)

I try not to purchase dry clean clothes

What key features do you look for when purchasing a coat?

Text Responses Smart Style Style Warmth and versatility (can it be used for casual and smart) Warmth Good fit Good fabric Quality Durability Style Price Quality, length (I'm really tall) and overall style Colour, Length, Comfort Warmth and colour Shape and style Smart ,practibility , The length and shape of the waist first, to see if it has any fitted shape to it and I won't look like a balloon. Then the material, then the dreaded price Warmth and comfort, but it needs to look reasonable for work etc.

Stylish & warm Warm, pockets and usually black or s neutral colour Warm, durable feeling/appearing, stylish Fit Price, warmth, waterproof, style Quality, waterproof Well fitting. Good lining.

Colour and embellishments classic, with big pockets Fit Quality, warmth, comfort, style One which will last, warm, comfortable.

To fit well and be a bit different Buttons Warmth - quality of material Cut Hood Stylish, will go well with my outfits, it's reasonably warm Fit practicality timeless fashion, comfortable fit, durability Stylish warm well fitting flattering Fit, waterproofing level, warmth Style, length, pockets Warmth. Waterproof.

I'm 5"10 so long arm length in a coat is key. length, buttons or zippers, number of pockets Don't wear coats Colour, warmth.

Wearable (go with lots), comfy, warm, in season Water resistant and stylish Warmth, color, style.

Length Thickness Style and pocket size Warmth Dark. Comfortable.

Quality, structure, classic tailoring, high neck or pop-collar potential .smart vibe Pockets - number, size at least 1 inside pocket preferably with zip. Also if I can put my hands in the pocket like a pair of trousers not a pair of jeans.

Deep pockets, a decent fastening such as a zip, and practicality of the design The right size and quality Got to fit me perfectly Warmth warmth, style

!26

What is your opinion on purchasing dry clean only clothing?

I don't

I would purchase some dry

I try not to

I do not want to purchase Standard

mind dry

clean clothes, but would prefer

purchase dry clean

anything that requires dry

cleaning

not to

clothes

cleaning

Responses Deviation

10

27

12

6

(18%)

(49%)

(22%)

(11%)

All Data

7.95

I don't mind dry cleaning

I would purchase some dry clean clothes, but would prefer not to

55

I try not to purchase dry clean clothes

I do not want to purchase anything that requires dry cleaning

What is the average price you will spend on a coat?

All Data

Up to £50

Up to £50

£50 - £100

9 (16%)

27 (49%)

£50 - £100

£100 - £200 13 (24%)

£100 - £200

!27

£200 - £300 6 (11%)

£200 - £300

£300 - £400 0 (0%)

£300 - £400

£400 +

Standard Deviation

Responses

9.23

55

0 (0%)

£400 +

What is your favourite style of coat? ie trench, duffle, moto Text Responses Trench Car length Jacket padded jacket Jacket Anorak Trench and Blanket Wrap Trench Skater Peacoat I love trench coats, but the thick material winter ones. I'm very picky and once again have gone without one this winter because of this classic vintage fitted coat Short parks/puffa jacket Pea coat Fitted mid thigh length or hip Pea coat Parka Smart knee length Pea coat parka Fitted Trench Furry Trench Not sure of name - I love my ted baker funnel neck No idea Trench coat Peacoat trench Trench coats No clue Trench Overcoat Parka and trench are my fave. trench Black hooded Bomber style.

Boyfriend jacket (long) Duffle or zip up slicker Classic.

Short jacket Duffle Jacket Not trench. Wool jackets. Charcoal grey.

Three quarter collared wool...night day transition easily Black or grey and not too long Cape coat Trench Trench Duffle pea coat

!28

What are you favourite brand for coats?

Text Responses I don't have one Zara Jon rocha North face DP John rocha Scotch Zara, Mango and Rapsodia Mango, New Look, Zara Topshop , Riverisland Zara next mango Superdry I have no favourite, I will look absolutely everywhere for the perfect coat. I currently sport one from banana republic, Burberry and Reiss Per Una or M & S c;assoc riess Topshop Express, Barbour Sheoffel Zara Zara Hobbs none North face, regatta Zara Burberry Ted baker No idea Don't have one Wilfred ..

I do t really have one Don't have one Top shop Bespoke Newlook & Dorothy Perkins. They're fashionable and also have tall sections. depends on the style.

Topshop I don't have one.

Top shop, Zara, MEC Don't have a favourite.

N/A Jack Jones No favourite None Dkny barbour Jeff Banks Yumi for a fashion coat Debenhams for a more functional coat Superdry and jack wills Don't have one Oasis all saints

!29

Do you purchase coats for specific occasions? ie dinner coat Text Responses No No Occasionally I do have a 'going out' wool coat No Almost never More so for day or night Yes No No Yes Yes, I have a leather jacket for evenings out. a trench for fancy fancy. a pea coat for casual and now I would like my dream fancy winter trench for dinners etc No, though I might if it was a really special occasion (wedding, interview etc) evening coats, yes I will purchase a thin jacket usually from new look if it's for an occasion as I'd not like to pay as much if I am only going to wear a garment once or twice No Yes No No Winter No I buy a coat per season, but all for different occasions no No No No No No Nope No No Yes No No Once.

No. yes dinner coat or dressy coats for dates No No. No No No. No Yes No Yes Two main ones are winter smart, long Or just past the bum casual classic 'street coat' Yes Not really No Yes No no

!30

What is the average price you willing to spend on a blazer?

All Data

Up to £50

Up to £50

£50 - £100

19 (35%)

24 (44%)

£50 - £100

£100 - £200 11 (20%)

£100 - £200

!31

£200 - £300 0 (0%)

£200 - £300

£300 - £400 0 (0%)

£300 - £400

£400 +

Standard Deviation

Responses

9.76

54

0 (0%)

£400 +

Would you find it useful to have an easily accessible pocket for a card ? ie for oyster/metro card, or contactless card Text Responses No Yes No Not bothered yes always and if it has a zip even better No Love pockets Yes No No No Yes Yes! I put a lot in those pockets Yes yes, very Yes Yes Nope Yes Yes Yes No Yes! Yes Not really, unless in London yes Yes No No Yes Yes Yes yep Yes Yes Yes Yes Yes definitely, would be great for business cards too. yes definitely Yeah Yes Yes No Yes. And/or iPhone.

No Yes Yes No Yes. Always keep my oyster in my coat pocket Very!

No as I don't travel on the train Yes nice idea Yes Yes yes

!32

How often do you socialise after work?

Text Responses Twice a week Sometimes N/A Not often every couple of weeks Rarely Very often Once or twice a week Every other week Often Whenever really No 2 or 3 times a week Occasionally 2 or 3 times a week Once a week 1-3x a week Never Rarely Weekly Once a fortnight Often 50% once a month Not often Sometimes Not really socialise after work All the time Once a month Less often Quite often Rarely once a week Often Once per week Often Once a week Once a week. Bcause of what I'm studying my coursework takes up a lot of my time. at least once a week Not very often Rarely Once a month N/A Never.

Rarely Often Rarely 1/week Once a week Fairly 2 - 3 times per week 1-2 times a week Not a lot Often atleast once a week Most evenings rarely

!33

Would you be willing to purchase an expensive product if you did not recognise the brand?

Text Responses No Yes Yes Yes if I like to item yes No Yes, if it was of good quality and I liked the feel of it.

Depends on the product and quality Yes No No Probably not I'd be reluctant. But if it is the best coat in the world then I'd probably still buy it If I saw it and liked it. no Yes if I liked the look of it or seen it advertised Yes Yes Yes Yes Yes No Only if it looked reliable and had good reviews. maybe If it had good reviews and the right features Yes Depends on the quality Yeah Yes Less likely to Maybe Yes I f it was what I was looking for ... don't really have much brand awareness anyway.

Yes Probably, depends on the price, quality of the garment (I.E. wool / silk versus polyesters), where it is made) Yes Yes Probably not. yes I would just check the seams and zippers make sure it's well made No No. Maybe Yes Yes. Yes Yes No Yes Yes, if I was lucky enough to encounter it. You tend to shop at the same few shops , but would love to have something unique and quality If the material was of good quality and lasts long, yes.

I look at what the coat has to offer rather than the brand so yes Yes No No probably not

!34

If the brand was featured in a reputable source such as Vogue or Elle, would that prompt you to trust the brand?

Text Responses Yes Not necessarily Depends if it had any reviews Yes usually yes No Yes, but I'd rather have something nobody else has. Marketing freaks me out a little.

Maybe No Yes Yes Not necessarily Definitely yes Wouldn't be infuenced no Yes No Yes No Yes Yes No yes doesnt matter about brand more about fit and price Yes Yes Not necessarly No No Probably Maybe Yes No Yes I don't read those magazines so no Yes Yes. Yes. depends... I look more at user reviews since I've definitely bought high brand things that have had holes after one wear No Not always.

Yes Yes Yes. Yes No No Does not matter Not really an influence. With the expense, I need to try it on. If the whole world loves it but it doesn't suit me, I'm not buying I have absolutely no idea I do not read these publications, more likely to have an impact if I read it in a sports magazine.

Not really Yes Yes Yes yes

!35

Appendix 2

Total retail cost of coat cost of singular distribution Initial manafactured units Total cost price per unit

Total retail cost of coat cost of singular distribution Initial manafactured units Total cost price per unit Left over units from year 1

£350.00 £6.00 550 £21.00

£350.00 £6.00 625 £21.00 115

Year 1, 2016-2017

Income

Summary National sales income International sales income Funding Income

Garments sold Nationally National sales Garments sold Internationally International sales Total Sales Funding

Total Total Total Total

Expenditure

September Predicted Actual

£565.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

October Predicted Actual

October Predicted Actual 39 £13,650.00 13 £4,550.00 £18,200.00

£234.00

£630.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

November Predicted Actual

November Predicted Actual 44 £15,400.00 20 £7,000.00 £22,400.00

£264.00

£565.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

December Predicted Actual

December Predicted Actual 52 £18,200.00 23 £8,050.00 £26,250.00

£312.00

£130.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

January Predicted Actual

January Predicted Actual 32 £11,200.00 18 £6,300.00 £17,500.00

£192.00

£65.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

february Predicted Actual

february Predicted Actual 36 £12,600.00 18 £6,300.00 £18,900.00

£216.00

£130.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

March Predicted Actual

March Predicted Actual 27 £9,450.00 17 £5,950.00 £15,400.00

£162.00

£65.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

April Predicted Actual

April Predicted Actual 20 £7,000.00 10 £3,500.00 £10,500.00

£120.00

£130.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

May Predicted Actual

May Predicted Actual 15 £5,250.00 8 £2,800.00 £8,050.00

£90.00

£65.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

June Predicted Actual

June Predicted Actual 6 £2,100.00 4 £1,400.00 £3,500.00

£36.00

£130.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

July Predicted Actual

July Predicted Actual 2 £700.00 8 £2,800.00 £3,500.00

£12.00

£565.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

August Predicted Actual

August Predicted Actual 15 £5,250.00 10 £3,500.00 £8,750.00

September Predicted Actual 30 £10,500.00 8 £2,800.00 £13,300.00 £45,000.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

£180.00

£111,300.00 £54,950.00 £45,000.00 £211,250.00

£130.00 £11,550.00

October Predicted Actual £24,642.40 £18,200.00 £18,327.70 £24,514.70

£3,054.62 £18,327.70

November Predicted Actual 58 £20,300.00 35 £12,250.00 £32,550.00

November Predicted Actual £24,514.70 £22,400.00 £18,470.50 £28,444.21

£3,078.42 £18,470.50

December Predicted Actual 65 £22,750.00 40 £14,000.00 £36,750.00

December Predicted Actual £28,444.21 £26,250.00 £18,428.50 £36,265.71

£3,071.42 £18,428.50

January Predicted Actual 40 £14,000.00 25 £8,750.00 £22,750.00

January Predicted Actual £36,265.71 £17,500.00 £17,964.10 £35,801.62

£2,994.02 £17,964.10

february Predicted Actual 45 £15,750.00 29 £10,150.00 £25,900.00

february Predicted Actual £35,801.62 £18,900.00 £17,742.10 £36,959.52

£2,957.02 £17,742.10

March Predicted Actual 30 £10,500.00 25 £8,750.00 £19,250.00

March Predicted Actual £36,959.52 £15,400.00 £17,848.90 £34,510.62

£2,974.82 £17,848.90

April Predicted Actual 19 £6,650.00 21 £7,350.00 £14,000.00

April Predicted Actual £34,510.62 £10,500.00 £17,706.10 £27,304.53

£2,951.02 £17,706.10

May Predicted Actual 18 £6,300.00 25 £8,750.00 £15,050.00

May Predicted Actual £27,304.53 £8,050.00 £17,733.70 £17,620.83

£2,955.62 £17,733.70

June Predicted Actual 7 £2,450.00 5 £1,750.00 £4,200.00

June Predicted Actual £17,620.83 £3,500.00 £17,619.70 £3,501.14

£2,936.62 £17,619.70

July Predicted Actual 2 £700.00 15 £5,250.00 £5,950.00

July Predicted Actual £3,501.14 £3,500.00 £17,632.90 -£10,631.76

£2,938.82 £17,632.90

August Predicted Actual 18 £6,300.00 18 £6,300.00 £12,600.00

August Predicted Actual -£10,631.76 £8,750.00 £18,126.10 -£20,007.86

£3,021.02 £18,126.10

£1,839.92 £5,609.60 £33,657.60

£58,300.00 £33,657.60 £24,642.40

October Predicted Actual 55 £19,250.00 33 £11,550.00 £30,800.00

fixed costs Wages Rent Contents insurance Public liability insurance Internet and phone line Electricity Variable costs Marketing Gament manafacture Garment distribution One off costs Laptops Misc.

Total expenditure

September Predicted Actual 45 £15,750.00 17 £5,950.00 £21,700.00

Bank b/fwd Add total income Less total expenditure Bank c/fwd

Year 2, 2017-2018

Income

September Predicted Actual -£20,007.86 £21,700.00 £33,447.70 -£31,755.55

£130.00 £13,125.00 £90.00 £5,574.62 £33,447.70

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

September Predicted Actual

October Predicted Actual -£31,755.55 £30,800.00 £18,435.70 -£19,391.25

£270.00 £3,072.62 £18,435.70

£565.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

October Predicted Actual

November Predicted Actual -£19,391.25 £32,550.00 £18,585.70 -£5,426.94

£330.00 £3,097.62 £18,585.70

£630.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

November Predicted Actual

December Predicted Actual -£5,426.94 £36,750.00 £18,529.30 £12,793.76

£348.00 £3,088.22 £18,529.30

£565.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

December Predicted Actual

January Predicted Actual £12,793.76 £22,750.00 £18,057.70 £17,486.06

£390.00 £3,009.62 £18,057.70

£130.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

January Predicted Actual

february Predicted Actual £17,486.06 £25,900.00 £17,799.70 £25,586.37

£240.00 £2,966.62 £17,799.70

£65.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

february Predicted Actual

March Predicted Actual £25,586.37 £19,250.00 £17,913.70 £26,922.67

£270.00 £2,985.62 £17,913.70

£130.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

March Predicted Actual

April Predicted Actual £26,922.67 £14,000.00 £17,727.70 £23,194.98

£180.00 £2,954.62 £17,727.70

£65.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

April Predicted Actual

May Predicted Actual £23,194.98 £15,050.00 £17,726.50 £20,518.48

£114.00 £2,954.42 £17,726.50

£130.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

May Predicted Actual

June Predicted Actual £20,518.48 £4,200.00 £17,641.30 £7,077.18

£108.00 £2,940.22 £17,641.30

£65.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

June Predicted Actual

July Predicted Actual £7,077.18 £5,950.00 £17,640.10 -£4,612.91

£42.00 £2,940.02 £17,640.10

£130.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

July Predicted Actual

August Predicted Actual -£4,612.91 £12,600.00 £18,126.10 -£10,139.01

£12.00 £3,021.02 £18,126.10

£565.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

August Predicted Actual

September Predicted Actual

Garments sold Nationally National sales Garments sold Internationally International sales Total Sales

£140,700.00 £100,800.00 £241,500.00

Summary

Summary Total National sales income Total International sales income Total Income

Expenditure

Summary

fixed costs Wages Rent Contents insurance Public liability insurance Internet and phone line Electricity Variable costs Marketing Gament manafacture Garment distribution Misc.

Total expenditure

Bank b/fwd Add total income Less total expenditure Bank c/fwd

1

!36

Total retail cost of coat cost of singular distribution Initial manafactured units Total cost price per unit Left over units from year 1 £350.00 £6.00 810 £21.00 15

Year 3, 2018-2019

September Predicted Actual 55 £19,250.00 35 £12,250.00 £31,500.00

Income Garments sold Nationally National sales Garments sold Internationally International sales Total Sales

£161,700.00 £120,400.00 £282,100.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

£65.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

August Predicted Actual 17 £5,950.00 24 £8,400.00 £14,350.00

£110.00

July Predicted Actual 4 £1,400.00 11 £3,850.00 £5,250.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

June Predicted Actual 7 £2,450.00 8 £2,800.00 £5,250.00

£65.00

May Predicted Actual 15 £5,250.00 18 £6,300.00 £11,550.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

April Predicted Actual 23 £8,050.00 22 £7,700.00 £15,750.00

£110.00

March Predicted Actual 28 £9,800.00 24 £8,400.00 £18,200.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

february Predicted Actual 49 £17,150.00 35 £12,250.00 £29,400.00

£65.00

January Predicted Actual 47 £16,450.00 35 £12,250.00 £28,700.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

December Predicted Actual 75 £26,250.00 55 £19,250.00 £45,500.00

£110.00

November Predicted Actual 70 £24,500.00 45 £15,750.00 £40,250.00

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

£24.00 £2,923.42 £17,540.50

October Predicted Actual 72 £25,200.00 32 £11,200.00 £36,400.00

£65.00

£42.00 £2,936.02 £17,616.10

August Predicted Actual £41,071.14 £14,350.00 £17,540.50 £37,880.64

August Predicted Actual £13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

£90.00 £2,936.62 £17,619.70

July Predicted Actual £53,437.23 £5,250.00 £17,616.10 £41,071.14

July Predicted Actual

£110.00

£138.00 £2,955.22 £17,731.30

June Predicted Actual £65,806.93 £5,250.00 £17,619.70 £53,437.23

June Predicted Actual £13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

£168.00 £2,952.22 £17,713.30

May Predicted Actual £71,988.22 £11,550.00 £17,731.30 £65,806.93

May Predicted Actual

£65.00

£294.00 £2,986.42 £17,918.50

April Predicted Actual £73,951.52 £15,750.00 £17,713.30 £71,988.22

April Predicted Actual £13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

£282.00 £2,975.02 £17,850.10

March Predicted Actual £73,670.02 £18,200.00 £17,918.50 £73,951.52

March Predicted Actual

£110.00

£450.00 £3,017.62 £18,105.70

february Predicted Actual £62,120.11 £29,400.00 £17,850.10 £73,670.02

february Predicted Actual

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

£420.00 £3,002.62 £18,015.70

January Predicted Actual £51,525.81 £28,700.00 £18,105.70 £62,120.11

January Predicted Actual

£65.00

£432.00 £3,014.02 £18,084.10

December Predicted Actual £24,041.50 £45,500.00 £18,015.70 £51,525.81

December Predicted Actual

£13,333.33 £829.00 £208.33 £50.00 £17.99 £89.43

£330.00 £2,984.62 £17,907.70

November Predicted Actual £1,875.60 £40,250.00 £18,084.10 £24,041.50

November Predicted Actual

£110.00 £17,010.00 £0.00 £6,329.62 £37,977.70

October Predicted Actual -£16,616.70 £36,400.00 £17,907.70 £1,875.60

October Predicted Actual

September Predicted Actual -£10,139.01 £31,500.00 £37,977.70 -£16,616.70

September Predicted Actual

Summary Total National sales income Total International sales income Total Income

Expenditure

Summary

fixed costs Wages Rent Contents insurance Public liability insurance Internet and phone line Electricity Variable costs Marketing Gament manafacture Garment distribution Misc.

Total expenditure

Bank b/fwd Add total income Less total expenditure Bank c/fwd

!37