E-Commerce Business Plan on Online Apparel Sales

E-Commerce Business Plan
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Table of Contents Executive Summary. 3 Business Description. 3 Business Model 4 Market Strategy. 6 Conclusion. 7 References. 8
Executive Summary
Over the last decade, consumers have walked to shops and shopping centers to purchase clothes. Since the advent of the internet, buying and selling goods has become simple, with many intermediaries being rendered obsolete by the rise of online retail (Miva, 2020). The internet allows the firm to provide services and products that rivals do not offer. The company domain is smartfashion.com. The objective is to provide world-class fashion and high-quality clothes that builds client loyalty. First, provide unique and affordable fashion. Second, to satisfy clients in their comfort zone. Third, create a user-friendly platform, and last, provide trustworthy durable items. Potential clients for our company will be between the ages of 1 and 16 and 26 and 40. The company will exploit competitors' flaws to obtain a competitive edge. Management team members will include a website developer, human resource manager, director of marketing, director of finance, marketers, and customer service representatives. Finance is essential for product development, licensing, website, and store purchases. Before the business starts, we require management team salary funds. So firm owners will contribute equally to start. The estimate predicted an 8% net profit in the first year and 17% afterward for the internet firm. Implementing the approach will likely boost earnings by 9% annually. All financial statements need proper record-keeping for accounting reasons.
Business Description
A decade ago, there was no viable alternative to in-store shopping. Physical shopping requires walking to malls, electronics stores, vehicle assembly, boutiques, and grocery stores to purchase and carry home goods (Living, 2021). The consumer needs to pay the "additional" cost for the middleman in addition to the price of the product when making a physical purchase. The company will provide a website for buying and selling products. In our most familiar environments, technological advancements have prompted alterations to our clothing. Smart fashion is developing new online clothes catering to men and women. By focusing on online apparel sales, the company can make the most of its resources and take advantage of the economies of scale. As a result of this business plan, there will no longer be a need for an intermediary to transact commerce. Smart fashion is launching an e-commerce site where buyers may choose their items and make secure online payments.
Business Model
The company will provide a website where customers can place orders for the specific kind of clothing they want to buy. After that, they will purchase the fabric and pay for it digitally. Customers may have their orders sent directly to their homes or picked up at one of our convenient locations. This agreement is crucial as it will protect our customer's best interests. Due to numerous intermediaries, purchasing has been challenging for years, making online buying necessary. The intermediaries always determine pricing when a company does not have an online storefront (Corporate Finance Institute, 2022). As a result, many consumers worry about boutique and garment businesses' high pricing resulting in minimal returns. Therefore, internet purchasing, particularly in the garment business, is necessary to remove third parties for clients.
In addition, sales will be the company's primary revenue source. Online businesses compete with traditional retail outlets by offering goods and services to customers worldwide (Demchenko, 2020). Any business that relies on only one online sales platform to do its business is a good illustration. This method establishes a novel way of doing trade using online catalogs. The company will sell men's and women's clothing and accessories. The company will offer a wide variety of articles of apparel online, including but not limited to the following: t-shirts, T-blouses, skirts, pants, shorts, fleece outerwear, dresses, rain gear, synthetic clothes, scarves, hats, jackets, shoes, socks, and T-shirts. We will provide our customers free shipping for those close to the firm location (Mathieu, 2001). The firm will also sell suits, casuals, event clothes, and a wide variety to accommodate our consumers of all ages.
A company's distinct value proposition defines how it provides a benefit differently from competitors (Boutin, 2022). Therefore, a UVP needs to be detailed and easy to understand. Smart fashion’s distinctive selling point: "The perfect-fitting pair of clothes is essential for everyone. Our clothes are designed to bring out your greatest qualities and help you shine." With the online store's round-the-clock support, customers may place orders whenever they choose. There will be a free phone line for clients to call if they have any questions, concerns, or suggestions. Our platform's ease of use and dedication to our customer's satisfaction will also set us apart from the competition. Research shows that an easy-to-use website considerably improves sales, whereas too complicated a website leads to a loss of sales; thus, the design will be a competitive advantage (Harrison, 2018). Another edge over the competition is first-rate assistance for consumers. Customers will save time and effort by not facing the traffic and waiting in long lines at our brick-and-mortar locations to place orders and get the necessary goods and services (Malloy, 2019). Since the service is provided to customers in the comfort of their homes, it will give the company an edge over the competition.
Smart fashion will adopt the follow-up procedure designed to ascertain whether or not the correct product has been delivered to the owner and to get the customer's opinion of our services and products (Guercini et al., 2018). A confirmation number will be made available to consumers so that they can provide us with feedback after receiving their order and assess its quality. This will demonstrate care and elicit suggestions on enhancing our service to clients....