Business Plan Ebc
Business Plan Ebc
Business Plan Ebc
I.EXECUTIVE SUMMARY
II.PROBLEMS TO BE SLOVED
III.COMPANY DESCRIPTION
IV.PRODUCTS/SERVICES
V.MARKET ANALYSIS
VII.SWOT ANALYSIS
VIII.OPERATIONS
X.FUNDING
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BUSINESS PLAN
I.EXECUTIVE SUMMARY
II.PROBLEMS TO BE SOLVED
E-commerce businesses face various challenges and problems that need to be solved
to ensure their success and growth. Here are some common problems in the e-
commerce industry and examples of solutions:
Shopping Cart Abandonment:
o Problem: Customers add products to their cart but do not complete the
purchase.
Solution: Implement strategies such as retargeting ads, email reminders, and
simplified checkout processes to reduce abandonment rates.
Customer Acquisition:
o Problem: Attracting new customers can be expensive and challenging.
o Solution: Invest in digital marketing, SEO, and social media marketing. Focus
on optimizing your website for search engines and leveraging influencer
partnerships.
Customer Retention:
o Problem: Keeping customers engaged and coming back for repeat
purchases.
o Solution: Implement loyalty programs, offer personalized recommendations,
and provide exceptional customer service to build long-term relationships with
your customers.
Inventory Management:
o Problem: Balancing inventory levels to prevent overstocking or
understocking.
o Solution: Implement inventory management software, use demand
forecasting, and establish relationships with suppliers to ensure a steady
supply chain.
Fraud and Security:
o Problem: Protecting customer data and preventing fraudulent transactions.
o Solution: Invest in robust security measures, including SSL certificates, fraud
detection systems, and secure payment gateways.
Mobile Optimization:
o Problem: Many users shop on mobile devices, and having a non-responsive
website can lead to poor user experience.
o Solution: Ensure your website is mobile-friendly and offers a seamless
shopping experience on various devices.
Shipping and Delivery Issues:
o Problem: Shipping delays, high shipping costs, and damaged goods can lead
to customer dissatisfaction.
o Solution: Offer multiple shipping options, provide clear shipping information,
and work with reliable shipping partners. Consider using order tracking and
insurance for high-value items.
Returns and Refunds:
o Problem: Handling returns and refunds efficiently while maintaining customer
satisfaction.
o Solution: Create a clear and fair return policy, streamline the return process,
and offer excellent customer support.
Competition:
o Problem: The e-commerce market is highly competitive, making it
challenging to stand out.
o Solution: Focus on building a strong brand, offering unique products, and
providing exceptional customer service. Monitor and adapt to market trends.
Regulatory Compliance:
o Problem: E-commerce businesses must adhere to various regulations, such
as data protection and tax laws.
o Solution: Stay informed about relevant regulations and ensure compliance
through legal counsel or regulatory compliance software.
Website Performance:
o Problem: Slow-loading websites can deter customers and affect SEO
rankings.
o Solution: Optimize your website for speed, use content delivery networks
(CDNs), and regularly monitor and improve site performance.
Global Expansion:
o Problem: Expanding to international markets can be complex due to different
languages, currencies, and regulations.
o Solution: Research and plan market entry carefully, consider localization, and
adapt your business model to suit the target market.
Every e-commerce business is unique, so the specific problems and solutions will vary
depending on the industry, niche, and target audience. It's important for e-commerce
businesses to stay adaptable, continuously analyze their performance, and be open to
implementing innovative solutions to address challenges as they arise.
III.COMPANY DESCRIPTION
At Worldwide Commerce PH, we believe that convenience and choice should go hand
in hand. That's why we've curated a comprehensive collection of products, from fashion and
electronics to home decor and lifestyle essentials. Our user-friendly website and mobile app
are designed to make your shopping journey effortless, with intuitive search and filter
options, secure payment methods, and swift delivery services.
What sets us apart is our commitment to customer satisfaction. We prioritize your shopping
experience from the moment you browse our virtual aisles to the second your order arrives
at your door. Our dedicated customer support team is always ready to assist you with any
queries or concerns, ensuring your needs are met promptly and professionally.
Security and trust are paramount to us. We've implemented state-of-the-art security
measures to safeguard your personal and payment information, providing you with peace of
mind as you explore our extensive product catalog.
In our ongoing efforts to enhance your shopping experience, we continuously update our
inventory to include the latest trends and innovations. We also offer exclusive deals and
discounts to reward our loyal customers.
Worldwide Commerce PH is not just an online store; it's your partner in discovering
the best products the world has to offer. We're committed to delivering top-notch customer
service, quality products, and a shopping experience that exceeds your expectations. Join us
on this exciting journey of exploration and satisfaction and allow us be your trusted
companion in online shopping.
Fashion Clothing
Fitness Clothing
Fitness Equipment
Summer Accessories
Home Appliances
V.MARKET ANALYSIS
Market analysis is a crucial step for any e-commerce business to understand the industry,
target audience, competition, and trends. Here are some examples of components that
could be included in a market analysis for an e-commerce business:
Analyze the size of the e-commerce market in terms of revenue and growth trends. Identify
if the market is expanding, shrinking, or stable.
Target Audience:
Define your ideal customer personas, considering demographics, behavior, preferences, and
pain points. Understand their buying habits and online behavior.
Competitive Landscape:
Market Trends:
Regulatory Environment:
Market Segmentation:
Customer Behavior:
Pricing Strategy:
Distribution Channels:
Sales Forecast:
Risk Analysis:
Worldwide Commerce PH will offer the unique value proposition to its clientele:
All materials are made in the United States and made with the highest quality material.
100% customer satisfaction money back guarantee with every product sold.
Promotions Strategy
Social Media
Worldwide Commerce PH will blow up social media sites with targeted ads and TrendyFit.com
will be seen on all major social media sites (Facebook, Instagram, Twitter, YouTube, TikTok,
SnapChat, etc.). A large portion of the funding will go towards purchasing targeted ads and
having a creative team to develop social media advertising.
Website Marketing
Prince Clement’s creative team will also develop a professionally designed and visually
appealing website to gear customers to when they click on the social media ad. The website
will have a gallery of all the available products, shipping information, return information,
FAQ’s, etc. The SEO will also be managed to ensure that anyone searching “trendy fitness
apparel” or “trendy clothes for young adults”, will see Worldwide Commerce PH listed at the top
of the Google search engine.
Pricing
The pricing of Worldwide Commerce PH will be moderate and on par with competitors, so
customers feel they receive value when purchasing its products.
VII.SWOT ANALYSIS
The eCommerce industry, otherwise known as the online shopping industry, has seen
massive growth within the last decade. Thanks to the growing popularity of the personal
computer and the fast-paced development of mobile devices, eCommerce businesses can
now reach more buyers than ever before.
Strengths
Accessibility
Lower Prices
Another considerable Strength of online shopping is that products tend to have lower prices,
when compared to traditional retail channels. One reason for this is that eCommerce
typically involves sellers interacting directly with consumers, cutting out middlemen such as
distributors.
Weaknesses
Industry Specific
Certain products lend themselves to eCommerce better than others. For example, books,
electronics, and kitchen gadgets are all easy to sell through online stores, since consumers
roughly know what to expect. All products and services may vary from the original posted
online and frauds can mostly happen.
However, some items are much less universal; the best example of this is clothing. It’s
difficult for consumers to purchase the clothing they want online, since they don’t know
whether it will fit, how it will feel, and how it will look. Unfortunately, it will be very difficult
for eCommerce stores to expand into these industries.
Opportunities
Growing Market
One of the biggest opportunities for the online shopping industry is the growing market.
While most consumers in developed countries already have electronic devices, there are
plenty of consumers in developing countries who don’t — and, as a result, don’t buy goods
online. As the prices of electronics continue to decline, it’s likely that we’ll see an increase in
the number of potential internet shoppers. This will subsequently result in a greater volume
of eCommerce sales.
Threats
Competition
Although the eCommerce industry’s low barrier to entry is, on the one hand, a Strength, it
also poses a significant threat for existing sellers. This is because of how easy it is for just
about anyone — anywhere — to launch a new eCommerce store and compete with other
online shopping businesses. It’s important to know that this element of competition doesn’t
affect the success of the eCommerce industry but affects individual businesses.
Fraud
The world of eCommerce is fueled by digital payments, whether that involves credit or debit
cards, bank transfers, or even cryptocurrencies. This makes it a huge target for fraudsters,
who now have an easy way to cash out on their illicit activities. Fraudsters can buy goods
online using others’ payment details — while staying completely anonymous — and send
those items to neighborhood doorsteps, where they’ll be swiped while the homeowner is out
at work. Unfortunately, it’s incredibly difficult to combat internet fraud, which is why it’s
such a big threat for the industry.
Overall, the eCommerce industry is in a strong position but facing some downsides. Its
Strengths include accessibility and low prices — which allow consumers to shop wherever
and whenever, at cheaper prices than usual. The main Weakness of online shopping is that it
doesn’t lend itself so well to some industries (such as apparel), since consumers can’t buy
before they try.Looking to the future thanks to the SWOT analysis of online shopping,
Opportunities for eCommerce include a growing digital market and the power of internet
influencers. However, a multitude of Threats — including competition, fraud, data concerns,
and the potential for monopolies — will need to be monitored. Doing so will likely require
government regulation, clever business practices, and close attention to detail.
VIII.OPERATIONS
Operations Plan
Operation Functions:
A.Prince Clement Romero will be Owner and CEO of Worldwide Commerce PH. He will
oversee strategy, growth, product design, and drop shipper communication.
B.A Team of Customer Service Representatives to answer customer calls, emails, returns,
and any other customer issues.
C.Team of Creative Designers to develop the website, social media posts, photography, SEO,
and targeted ad campaigns on social media sites.
D.Worldwide Commerce PH will have an agreement in place with a drop shipper who will
fulfill all product orders and ship them directly to the consumer. Worldwide Commerce PH
will not have its own warehouse, all product inventory and shipping will go through the drop
shipper.
IX.FINANCIAL PROJECTIONS
The revenue drivers for Worldwide Commerce PH will be the revenue obtained from all
products sold on Worldwide Commerce PH.
The cost drivers will be the cost to maintain the drop shipper per the contract. The drop
shipper will receive fees on all products it fulfills and ships. Other cost drivers will be the
salaries for the creative team and customer service representatives. Lastly, other cost
drivers will be the costs for purchasing targeted ads on various social media sites and
maintaining the website.
X.FUNDING
The funding will be dedicated to the down payment to the drop shipping company, three
months of payroll expenses for the creative team and customer service representatives, and
any business licensing necessary. There will also be funding dedicated to the social media
campaign and website development. The breakout of the funding is below:
Payroll Expenses for Creative Team and Customer Service Reps (Monthly): PHP 1,500,000
Key Assumptions
The following outlines the key assumptions required to achieve the revenue and cost
numbers in the financials and to pay off the startup business loan.