How Can I Develop a Growth Plan for Our Kids' Wear Company? Seeking Advice and Templates

Dear Seniors,

I have joined as HR in a kids' wear manufacturing company where the employee strength is 150. Currently, we only have cutting, ironing, altering, receiving, and dispatch segments. My boss has asked me to create a plan on how to grow the business. He envisions incorporating printing and stitching segments into our operations. What key points should I consider when preparing a comprehensive plan for the company? If you have any sample templates, please suggest them.

Thanks

Dear Swarnali,

Expansion of business should be based on the strategic plan of the company. This strategic plan is devised based on the business strategy.

Your boss wants to add a few more operational processes. However, the addition of a few more processes would require capital. What is financial capacity?

Secondly, apart from finance availability, the most important part is the market for your product. For this, your company needs to conduct market research. Has your boss done that?

If the market research is not done, then he needs to hire a market research agency or engage a consultant/adviser who is an industry expert. If you are from HR, then I doubt whether you are the right person to be given this task.

Your boss needs to develop a business plan for the expansion. This business plan is different from the one that we submit to the bank to secure a loan. Part of the business plan is the manpower plan.

This is where your role lies. You need to identify individuals with the right skills and sources to acquire them.

To refer to the rough outline of the business plan, click the following link:

https://www.citehr.com/526101-busine...ml#post2227768

Thanks,

Dinesh Divekar

Well, appreciating Dinesh Divekar's suggestion, I would like to add a few more points here.

HR's Role in Business Planning

One thing I could not understand is how HR makes the business plan of a company. The growth factor lies in the ideas of the owner, not in the employee. Of course, they can suggest but cannot create a business plan.

Suggestions for Business Expansion

Anyways, a few areas for business expansion suggestions are contacting schools, hospitals, CCDs, and other restaurants for the stitching of uniforms and aprons. You could explore more ideas like these and share them with your boss. Give it a try...