Name: Melissa Joy Lim Jing Yi

Grade: 11

Title: One stop dance apparel & accessories retailer

Supervisors: Ms Rashika & Ms Zamwati

Word Count: 4002

Table of Contents
1. Introduction ............................................................................................................... 1-3

1.1 Idea ................................................................................................................................1

1.1 Goal ...............................................................................................................................3

2. Investigation .............................................................................................................. 4-6

2.1 IB Learner Profiles & ATL Skills .................................................................................4

2.2 Significance ...................................................................................................................5
2.3 Evaluation of Sources ....................................................................................................6

3. Planning ..................................................................................................................... 7-8

3.1 Setting Goals ..................................................................................................................7

3.2 Design Specification .....................................................................................................7
3.3 Product Specification .....................................................................................................8
3.4 Product Criteria ..............................................................................................................8
3.5 Action Plan.....................................................................................................................8
3.6 Predicted Timeline .........................................................................................................8

4. Taking Action .......................................................................................................... 9-18

4.1 Process of Product Creation ...........................................................................................9

4.2 Product Refinement ....................................................................................................18
4.2 Actual Timeline ..........................................................................................................18

5. Reflection ............................................................................................................... 19-22

5.1 Understanding of Global Context ...............................................................................19

5.2 Learning & Development as an IB Student ................................................................19
5.3 Strengths .....................................................................................................................20
5.4 Weaknesses .................................................................................................................20
5.5 Product Testing ...........................................................................................................21
5.6 Reflection of the Product ............................................................................................21

6. Bibliography ................................................................................................................23

7. Appendices ...................................................................................................................24
 1.0 INTRODUCTION
1.1 IDEA

Dance is more than merely just a sport, it has grown to become one of my greatest passion
in life. I have begun dancing since the tender age of 4 and Saturdays became my favourite
day of the week as I was often ecstatic about attending dance classes together with my
other friends who share a common interest. The art of dancing is to me, a way of expressing
without verbal communication. Best of all, there is no limit to how far one can go. I can't
explain how much joy I get out of dancing. It is the thrill of entering the studio all prepared
for class, warming up, putting energy and emotion into every movement and finally
walking out of there perspiring yet totally satisfied, that keeps me going. Even though I
may have stopped attending dance classes outside of school, the interest has never once
died out within me. Nonetheless, I still continue to be a part of the performing arts class in
school.

Since it has been almost 11 years of dancing, I decided to have the area of concern for my
personal project relate to dancing something I love doing and can relate better to than
anything else.

Every once in a while, the dance studio which I used to go to, would host events whereby
we students were asked to perform dances taught in class to us. I remember having to attend
countless numbers of rehearsals with the rest of my dance mates to get the routine
memorized and perfectly executed. Being in sync with one another was a key criteria
towards delivering a good dance performance.

Costumes help bring to life the performance that us dancers work so hard to complete.
They help accentuate a dancers movements. Because of this, it is important to choose the
right costume. This was a problem which bugged us as dancers because there was no store
of any sort which we could purchase costumes from and we would always end up scouting

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high and low just for a suitable costume. I have personally experienced this afore and I
know for sure, situations like this dont improve when one is met with time constraints.

Hence, when I had to decide on the title of my project, I settled for an idea that involves
creating a business plan for a one-stop dance apparel & accessories retailer. I hope that
with this, dancers or performers alike could relate to me by seeing eye to eye on the
importance of dance apparels and understand how convenient it would be once there is a
specific area where all dance apparels are available for purchase.

My personal project is an inquiry into the global context of Personal & Cultural Expression
because I view dance as a form of expression of who I am; of my emotion in that moment
of time. This global context revolves around the concepts of expression, ideas, culture,
beliefs and considers our appreciation of the aesthetic. Since this global context also
highlights the importance of extending and enjoying our creativity, it has great relevance
to my idea as my business plan, once completed for my entrepreneurial business will
evidently reflect on these strands. (Refer to Appendix 1 & 2)

My idea overlaps with 2 main subjects Business Studies and Performing Arts.
Understanding from my lessons in Business Studies will be crucial in assisting me with the
development of the layout and content required in a proper business plan. I chose
Performing Arts as the other subject specific so as to learn what dancers would expect to
see in a retail store like this and understand what should be required of the store.
Knowledge gained from both of these subjects would be just what I need to help me
develop a sound business plan. (Refer to Appendix 3)

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1.2 GOAL

My main goal is to deliver a well-thought-out and organized business plan which will
include everything there is to know about my store for potential franchisees or investors
who feels this business is worth investing in. However, this can be partly challenging as
this will be my first attempt at writing a business plan and so this small step I hope, would
too be the first of many to come to take the lead in promoting the creation of one-stop dance
apparel and accessories retailers, especially in the state which I currently stay in Johor,
Malaysia.

With this said, my aim is to help reduce the hassle and increase convenience for performers,
especially dancers when it comes to searching for appropriate dance apparels and
accessories.

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 2.0 INVESTIGATING
2.1 IB LEARNER PROFILES & ATL SKILLS

My personal project, I anticipate, will help me cultivate several IB Learner Profiles & ATL
Skills which I have always wanted to.

It would require a lot of faith and perseverance since Im approaching uncertainty by going
out of my comfort zone to produce something I have never done before. I believe that
through this challenging process, I will be able to push myself through and hopefully learn
a little more about myself and my capabilities no matter the outcome. Hence one of the IB
Learner Profiles I plan to develop would be Courageous. At the end of this, I also plan to
develop the attitude of being Open-Minded since I will learn to seek positive criticism; be
it from my supervisors or friends. This will train me to accept negative comments in a
positive way and not take things too personally. Another IB Learner Profile I aim to
develop is to be a Thinker because a great deal of comprehensive research is required of
this project and for that reason, I would need critical and creative thinking to analyse the
validity of information I gain from sources to make ethical decisions.

Apart from intending to develop the IB Learner Profiles, I also hope to cultivate good
Organization Skills as I learn to present information in an organized manner. A well-
written business plan is often gaged by its presentation and flow of contents, thus, I
have to present my information in a manner that is appropriate and easily
understandable. Managing time effectively is crucial; Time Management is another
skill I plan on developing so that I can function equally efficiently even when time is
tight and pressures are high. (Refer to Appendix 4)

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2.2 SIGNIFICANCE

My dance instructor has never failed to emphasize the importance of dance apparels and
accessories to her students. She often says, Your dance costume is most important because
you will be judged from the moment you step onto the stage throughout taking your bow
and exiting at the end.

Therefore, I hope that by starting out a business like this, customers who visit can be
amazed by how each costume reflects its respective dance genre and is unique in its own
way. Considering that proper dance apparels are scarce to find, the significance of my store
is of even more importance since online shopping usually dont arrive on time and
furthermore, doesnt have the option of trying out different sizes of a specific apparel to
determine the right size.

The target audience for my project would be towards any interested franchisee(s) and/or
investor(s) who sees the potential in this business and plan to expand or invest in it.

2.3 EVALUATION OF SOURCES

In order to identify what was necessary of my project, I referred to online resources. I

started my research by finding out how to write a proper business plan and what are its
prerequisites. Since this is my first attempt at writing one, I needed as much help as I can
get from the Internet before proceeding to do mine. (Refer to Appendix 5)

Among the many online websites I visited ("How to Summarize Your Company in a
Business Plan." About.com Money.), (How to Write a Business Plan | The U.S. Small
Business Administration | ), my findings suggest that a business plan is made up of 10 main
segments; Executive Summary, Company Description, Market Analysis, Organization &
Management, Service & Products, Marketing & Sales, Research & Development, Funding
Request, Financial Projections and Appendices.

I was finally able to settle for an online business plan Microsoft Word template as my main
reference as it has clear and accurate descriptions on each segment of a business plan. From
the template published by the Irish Naturalisation and Immigration Service, I was still

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compelled to make a few improvisations as certain segments could not be applied to my
small scale business and if included, there would be insufficient information to write about.
Thus, I came to a conclusion that my business plan to consist of the following segments:-

- Executive Summary
- Company Description
- Market Analysis & Research
- Marketing Strategy
- Staffing & Operations
- Financial Projections
- Appendices

Ive come to learn that the real value of creating a business plan is not in having the finished
product in hand; rather the value lies in the process of planning for my business in a
systematic way.

In selecting my information, I asked myself the following questions:-

- How should I organize my information?

- What is the best way to benefit from the information I gathered?

I also conducted an interview through email with my schools dance instructor Mr.
Donnil Bandal Dignos, as my primary resource. His years of experience in teaching dances
ranging from traditional to hip hop is why I had chosen him for this project.

The following are screenshots of his responses based on the interview questions sent to
him. (Refer to Appendix 6)

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 3.0 PLANNING
3.1 SETTING GOALS

Developing sound goals is useful when managing my own performance throughout this
entire process. To ensure I do not deviate off track, I ought to create a detailed plan that I
could follow. Part of this plan includes a Design Specification, Product Specification and
a Product Criteria.

Before I begin writing my business plan, I shortlisted and simplified the goals I have in
mind using SMART Goals. A SMART Goal is one that is specific, measurable, achievable,
relevant, and time bound (University of Virginia). I utilized this model for the purpose of
helping me realistically list my goals and consistently reach them. (Refer to Appendix 8)

My product will be a comprehensive business plan targeted at potential franchisees or

investors interested in investing in this business of mine. It should consist a minimum of
15 pages, with 7 segments and a total average word count of 3500 words. Wherever
necessary, business terminologies will be included in the information so as to add to the
formality and the appropriateness of the plan.

3.2 DESIGN SPECIFICATION

I created a design specification to specify what is needed of my final product what are its
design requirements, and how I plan to put together the entire product once completed.
(Refer to Appendix 9)

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3.3 PRODUCT SPECIFICATION

Before I start on my final product, I need to know how I plan for it to be like at the end.
This product specification will do the job by further elaborating from what has been
included in the design specification, including deeper details on certain requirements such
as font types and the use of italics/bold. (Refer to Appendix 10)
At any time, I can crosscheck with this specification to ascertain that my business plan has
fulfilled all of its specifications that I had set for it.

3.4 PRODUCT CRITERIA

A product criteria acts similar to a rubric for this project. With it, I can evaluate my final
product against standards I have set for myself based on the content and structure of my
business plan as well as the level of creative thinking demonstrated in it. (Refer to Appendix
11 & 12)

3.5 ACTION PLAN

This table was created to provide me with a framework for thinking; its simply a statement
of how I plan to complete my product over a given period of time. (Refer to Appendix 13)

3.6 PREDICTED TIMELINE

My timeline comes in the form of a Gantt Chart that illustrates my projects schedule from
the first till the last stage. It is a guideline for me to follow and a reminder of how much
time there is left before the final due date. The chart shows the dates of each stage I took
and assume to start and finish respectively. (Refer to Appendix 14)

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 4.0 TAKING ACTION
4.1 PROCESS OF PRODUCT CREATION

I was able to complete my business plan efficiently thanks to all of the planning done earlier
on. It has helped me keep track of whether I am missing any content and if all the important
details have been well covered.

Cover Page

For my cover page, I inserted the logo of my one stop dance apparel & accessories retail
store which I designed on my own. The title is Business Plan followed by the name of
my retail store and below that, an abstract explanation of what the store is a Dance
Apparel & Accessories Retailer. I also included my name as the person in charge of
preparing this plan to give identification to myself. The above design is simplistic and
has a formal feel to it.

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Content Page

In this page, I used font type Palatino Linotype, sized 11 and 20 for the content and
headings respectively. The table of contents indicate the page each segment is placed on.

10
Executive Summary

The Executive Summary included the following information; background of the store,
brief explanation on its market opportunity, key statistics of its financial projections
and the purpose behind this plan. I decided to make this segment as brief as possible
yet at the same time not forgetting that it should contain all the necessary information
as this is one of the most important pages of any business plan. Potential investors
often make a provisional judgement based on this segment and their decision to read
the main body of the business plan will depend on the information presented here. The
font I used remains as Palatino Linotype; size 12 for content and 20 for headings. All
content was in black.

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Company Description

The Company Description, included a detailed explanation on the background of my

retail store such as its brand promise to customers, a list of the products to be sold,
opening hours, store location and the financial objectives aimed to be achieved over
the next 3 years. For easier understanding, I listed the products and services offered in
the store in point form instead of writing lengthy paragraphs.

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Market Analysis & Research

In this segment, the inclusion of the customer demographics sub-heading is to suggest

that there is a viable market available within the location of the store. This segment
also includes a thorough analysis of our competitors in the market, their advantages
and disadvantages as well as the stores own strengths and weaknesses illustrated
through the use of PESTLE and SWOT Analyses. The font used is identical to that of
the Executive Summary and Company Description.

13
Marketing Strategy

This segment describes the stores plan to arouse the markets interest in its products and
includes information on how the store plans on clearing old stock to welcome new ones.

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Staffing & Operations

In this segment, the duties, responsibilities and projected salary of each staff member is
outlined as part of forming a skilled workforce. There is also a reference indicating to refer
to a diagram of the stores management organisation hierarchy chart that is part of my
appendices.

15
Financial Projections

For this segment, I categorised all required material resources needed to conduct this
business into 3 sorts Accessories, Office Supplies and Building Cleaning Supplies. Also
included is an approximate breakdown of the stores start-up costs.

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Appendices

The last segment of every business plan is the Appendices. Here, I provided extra
information that may be of interest to the viewers of the business plan. Attachments under
this segment usually vary from business to business and in my case, it consists of survey
questions I created as part of market researching and a bank loan form for small-medium
enterprises (SMEs), among the few examples. No changes in font type, size and colour
were made.

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4.3 PRODUCT REFINEMENT

From the original plan, no major modifications were made other than the addition of a
content page to my business plan. I started off initially without one, but having read many
samples of professionally written business plans, I figured it would add to the
professionality of my plan and would also benefit my target audience to understand what
the plan will consist of and allow them to easily flip through it to find the specific segment
they are most interested in.

4.4 ACTUAL TIMELINE

Due to several unexpected difficulties that were encountered in this stage, the latter parts
of the predicted timeline could not exactly be followed as certain tasks had to be delayed
by a few weeks or so. Thus, I am re- illustrating a new timeline, which compared to the
predicted version, is not contingent but certain. (Refer to Appendix 16 & 17)

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 5.0 REFLECTION
5.1 UNDERSTANDING OF GLOBAL CONTEXT: PERSONAL & CULTURAL
EXPRESSION

It has come to the end of this entire project and I have been able to bring forth my creativity
as I explored how the ways in which we discover and express our ideas and feelings and
our appreciation of the aesthetic, can all be displayed through the form of a business plan.
Hopefully, this can go on to influence my readers, not limited to just potential franchisees
and investors. Personal and Cultural Expression deals with how one extends and enjoy
creativity and what I hope others will come to realize is that dance doesnt merely limit to
only 1 genre with 1 fixed costume it is far more sophisticated. Each costume is an
appreciation of the aesthetic by whoever it was designed by and goes to reflect the
uniqueness of its individual dance genre.

5.2 LEARNING & DEVELOPMENT AS AN IB STUDENT

I feel that my personal project is not something that merely focuses on the product but it
also values ones development in learning new things and the impact ones product can
bring to a community or society. This explains why the idea of creating a business plan
came to my mind; I felt that my business plan would have an impact in future to cater to
the needs of dancers in search of apparels and accessories, instead of having them opt for
online shopping choices or search high and low frantically especially if they are
experiencing time constraints.

Having seen my project progress pass each stage, I would say it has made me more
determined than ever, to own a store like this someday when I am much older. I will not
deny that I initially felt uncertain whether going out of my comfort zone to be the only one
among my classmates to undertake this challenge would pay-off, but now I have no doubts
because I realized that making this decision has helped me learn more about myself and

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my capabilities. It is this feeling of accomplishment that I feel even more motivated to
work harder next time, knowing that I am in fact capable of achieving new things.

On my own, I was able to make connections between various sources of information related
to my topic and also identify the most suitable approach of presenting information in my
business plan. As an IB student, I understand that applying our learning to real life
situations is always the right of way and it was while writing this business plan that I
realised I actually am aware of the appropriate time to transfer my existing knowledge to
the learning of something new. At the end of this, the skills I developed as an outcome was
absolutely worth all the effort and I strive to develop more in the near future.

5.3 STRENGTHS

One of my strengths worth acknowledging is that I had been able to plan most of my ideas
using the mind mapping skill. Due to my packed schedule, it is certainly a useful tool that
has improved the way I note down information and helped me understand the structure of
things quicker. My mind maps kept me updated of my objectives and sudden forms of new
ideas in case there were any.

5.4 WEAKNESSES

My major weakness is perhaps the fact that my business plan probably lacked essence.
Though it may be generally substantial considering this is my first attempt at writing one,
the professionally written ones published online are definitely far better from what I had
written and with more time perhaps, I would have considered adding more details and
information for each segment of the business plan so that it becomes a further
comprehensive reading material for my target audience.

Given another chance to revise and improve on my product, I would include Customer
Demographics. It will add as an additional sub-heading under the Market Analysis &
Research segment of my business plan. This would be a statistical view of a population,
generally including age, gender, income, occupation and so on
(ENTREPRENEUR.COM). Not only is it necessary to understand them in order to decide

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what kind of products should be sold, this part of the business plan will also help me decide
on setting the right price for the stores products.

5.5 PRODUCT TESTING

To measure the performance of my final product, I conducted a post-product interview

with my school dance instructor yet again. His feedback will be taken into account to
validate the plans suitability for end-use and verify if the requirements of this plan have
been met. (Refer to Appendix 18 & 19)

5.6 REFLECTION OF THE PRODUCT

My Personal Project was about something Im truly passionate about. I found it to be an

experience that allowed me to explore another part of myself that I have been developing
throughout my years studying the MYP. In the investigating stage, I found myself
searching for different types of sources to achieve my goal. I am aware at how it usually is
a norm for us IB students to manipulate various resources to our advantage, but I had to
admit that I was most dependent on the Internet. The Internet was used for backing my
findings and statistics in my business plan; to simply reinforce data. I also found the
experience of the project to be extremely gratifying as I found different ways to develop
holistically as a student.

Overall, I think the final product managed to showcase a sufficient yet comprehensive
business plan for a one stop dance apparel and accessories retailer. Quality wise, it consists
of all the necessary information for a retail store and doesnt only present to its targeted
audience a clear plan but also is the first of many to take the lead in promoting the creation
of similar retailers alike.

In the planning stage of my personal project, I created a Product Criteria which was meant
for me ultimately evaluate my final product against each of its strands. Compared against
my product criteria, I would rate my product a solid 5 for all Criterions A, B and C as I
tried my very best to incorporate as many business terminologies wherever possible in the
plan but I was unable to fully cover certain areas a standard business plan should consist

21
of such as Research & Development because this aspect is not, at the moment applicable
to my small scale dance apparel and accessories retail store. (Refer to Appendix 20)

Also, I used different graphic organizers and models wherein they were chosen according
to their feasibility and the kind of data to be displayed in order to present information
clearly. All in all, my product has reached the goal that I set for it which was to deliver a
well-thought-out and organized business plan that includes everything there is to know
about my store for potential franchisees or investors who see the potential in the investment
of this business.

All things aside, the end of this personal project has made me come to a realization that
humans should begin to apprehend the fact that in todays world, we have managed to
incorporate and combine craft, aesthetic, fashion related items into a business
entrepreneurship.

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 BIBLIOGRAPHY
- Berry, Tim. "What Investors Look For in a Plan." Entrepreneur. 12 Sept. 2005.
Web. 10 Dec. 2015. <http://www.entrepreneur.com/article/79834>.

- "Demographics." Entrepreneur. Web. 10 Dec. 2015.

<http://www.entrepreneur.com/encyclopedia/demographics>.

- Duermyer, Randy. "How to Summarize Your Company in a Business Plan."

About.com Money. 16 Dec. 2014. Web. 10 Dec. 2015.
<http://homebusiness.about.com/od/businessplans/a/biz-plan-examp.htm>.

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2015. <http://marangonimarketing.blogspot.my/2008/11/week-2-excercise-
topshop-swot-analysis.html>.

- Flickr. Yahoo! Web. 10 Dec. 2015.

<https://www.flickr.com/photos/jrobblee/galleries/72157627858686178/>.

- "How to Write a Business Plan | The U.S. Small Business Administration |

SBA.gov." How to Write a Business Plan | The U.S. Small Business
Administration | SBA.gov. Web. 10 Dec. 2015. <https://www.sba.gov/writing-
business-plan>.

- "Retail Business Hierarchy." Hierarchy. Web. 10 Dec. 2015.

<http://www.hierarchystructure.com/retail-business-hierarchy/>.

- "Salary Survey." Salary Survey. Web. 10 Dec. 2015.

<http://www.salaryexplorer.com/salary-survey.php?loc=130>.

- "Staffing Section of the Business Plan | Business Plan Hut." Staffing Section of
the Business Plan | Business Plan Hut. Web. 10 Dec. 2015.
<http://www.businessplanhut.com/staffing-section-business-plan>.

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