E-COMMERCE BUSINESS PLAN GUIDE
How businesses are conducted has changed over the years. Our today’s world of business, although similar, is much different from the world of business of times past.
E-commerce, an offspring of the internet, has revolutionised how businesses are conducted today, and online stores are now the way forward.
If you are interested in writing a business plan for your e-commerce business, this article contains an e-commerce business plan sample which you could use as a guide for writing your own business plan.
Here is a sample business plan for starting an online shopping website.
BUSINESS NAME: Cherish Simone & Co. Inc. Online store.
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Sales Forecast
Cherish Simone & Co. Inc. Online store is an e-commerce business which will be owned and managed by American based investors. The business will be particularly interested in offering a lot of products and services to its customers all around the world, and it will do very well to station itself among the leading online stores in the world.
Starting up our e-commerce business will require as start up budget, a total of $750,000 which will be sourced from both the owners and from the bank.
Our Products and Services
Cherish Simone & Co. Inc. Online store is an e-commerce business which will be more than willing to offer its products and services to its customers. Our products and services are from leading and reputable manufacturing companies all around the world. The following are the products and services which we will do well to offer our customers:
- Cigars & Beverages
- Mobile Phones
- Events & Tickets
- Home Appliances
Our vision in the e-commerce industry is to grow an e-commerce business which will become a very reputable brand, and be able to fully stand its ground with leading e-commerce brands such as Aliexpress.com and Amazon.
Our mission in the e-commerce industry is to start and build an e-commerce brand which will do very well to bring to its many customers quality products from top manufacturers in the world, and also at reasonable prices too.
Cherish Simone & Co. Inc. Online store is an e-commerce brand which is very motivated to position itself among the leading brands in the e-commerce industry. We want to be able to fully engage in healthy competition with already established and top e-commerce brands in the world.
We will not be able to achieve the vision which we have set out for our e-commerce business if we fail at organizing our business structure. We will take very seriously our plans to put the right business structure in place. We have resolved to hire only candidates who meet our high recruiting criteria. Candidates who will work with us must be qualified, hardworking, committed, and very honest. The following positions will be filled by such candidates who meet with our standard criteria:
- Chief Executive Officer (CEO)
- Warehouse Manager
- Business Developer
- Human Resources and Admin Manager
- Merchandize manger
- Accountant / Cashier
- Information Technologist
The internet is one of the best things to have happened to the business world in all of human history. Not only has it made doing business less cumbersome and stressful, it has in fact revolutionized everything about how businesses are conducted in our today’s world.
E-commerce is simply the way forward when it comes to retailing goods online, because unlike the traditional ways of doing businesses, covering a vast range of customers has now become very easy because of online stores.
The following are the various groups which we have found out to make up our target market:
- Business People
- Corporate Executives
- Expectant Mothers
- Sports Men and Women
Sales and Marketing Strategy
Our sales and marketing strategy will revolve around three key things, which are: secured payment platform, customer service and our pricing system. The good thing about e-commerce and online stores is that there is a wider customer reach than most other businesses, especially when the right business strategy is employed.
Bearing this in mind together with our business vision, we have been able to consult expert sales and marketing to help us in devising the most appropriate ways to promote our business to prospective customers:
- We will begin by making sure we introduce our e-commerce business to individuals, households, corporate organizations, etc.
- We will be very committed to our advertising campaigns on local media such newspapers, magazines, satellite TV stations, radio stations, etc.
- We will key into online forums to promote our e-commerce business to more customers.
- We will make sure to include our business on yellow page ads.
- We will also key into direct marketing.
We have conducted our research and have also carried out a feasibility study to determine the amount of money we will need to fully launch our e-commerce business.
From our research, we have realized that we will need a total of $750,000 to fully launch our online store. This total startup capital will be sourced from the owners (investors) and from the bank too.
So far, we have realised a total of $550,000 from the investors, while the other part will be borrowed from the bank.
First Fiscal Year $300,000
Second Fiscal Year $450,000
Third Fiscal Year $800,000
Above is our sales projection for our e-commerce business, Cherish Simone & Co. Inc. Online store, for the first three years after we have launched the business. We have been able to come up with this sales projection from the research we were able to conduct on the industry, and the data we were able to source.
This sales projection does not in any way pay any attention to any serious economic meltdown which may have a negative impact on the purchasing power of our customers.
The above e-commerce business plan sample has used the business name, ‘Cherish Simone & Co. Inc. Online store’. This e-commerce business will be owned by a group of American investors, Williams Simone, Peter Johnson, Philip Schneider, and Tommy Simone.