With great data comes a great business plan. There are six basic sections your eCommerce business plan should include that are:. Any eCommerce business plan should start with an executive summary of just one sheet summarizing each section of your business plan. Although it is placed at the beginning, it should be the last section to be written. The executive summary is the first thing your prospect investors would read and it creates the first impression for your project.
So, make it simple, easy-to-understand, and attractive. This is the next section that includes detailed information about your business and identified the competitive advantage of your online store. It covering some features such as:. Conducting market research around your eCommerce small business idea is essential.
Business Model EGrocery. It provides an online platform for household customers to choose from a wide variety of products listed by the suppliers distributors, wholesalers, retailers. It also allows the suppliers to enlist their products to ramp up their sales by increasing their reach. This portal also acts intermediately between the distributor and wholesalers or retailer to supply goods that are unavailable locally.
This model is built around providing convenience, quality and best value for money to the end users. The customers can browse through the catalogs and see the different items listed by the suppliers. The customer orders the selected items and we deliver the product on their doorsteps. This is our main focus and we concentrate all of our initial resources at this.
This is for bulk shipments and we charge the customers for the shipment. This is not our primary goal. The Process can be segregated into the following sub categories:- 1. Buying Process 2. Register 2. Browse 3.
Select 4. Payment 5. Feedback Registration To buy on eGrocery. It's fast, easy and free. As a registered user, they can shop and place orders on eGrocery. The registration involves the following steps: 1. Contact Information 2. Email Confirmation Browse Browsing is clicking through lists of titles called categories until one find something they are interested in. There are many payment methods and most sellers offer more than one. Some methods offer more protection than others.
Once you have received your item, it is time to leave feedback for the seller and the item, letting future buyers know about your experience with the seller. The following flow chart explains the process. Email Confirmation 2. Each product enlistment requires a one-time cost. The browsing is made free of cost. The revenue model can be segregated onto the following sub categories, namely: 1.
Registration Fee Manufacturers or Distributors pays annual rent for registering to eGrocery. In order to enlist their products or to put any kind of advertisements the companies must be registered. This is a fixed rent. Listing Fee Manufacturers or Distributors pays annual rent for listing each product. Considering its importance, TradeE will start executing its sales strategy plan two weeks before the launch.
Our biggest competitive advantage is that we are providing a very vast product line so to increase the niches of our target groups. All our products will be authentic, and replaceable within 2 days.
And finally, another thing that will be in our favor is that we will be able to deliver items fast as we are offering delivery services in the three cities that are really close to each other.
Since most of the employees of TradeE will be freelance workers, the company will conduct rigorous online interviews to find the most suitable employee. Your major spending will be the salaries of your employees and rent of your storeroom. So in order to analyze expected profits or future investments and identify the resources that are available or could be needed in the coming days, you must prepare a financial plan.
Your financial plan should also include the details of at what financial status you would prefer to contain or expand your product line or service area.
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OGScapital website is not supported for your current browser. Please use:. Business Plans. Need a business plan? Ecommerce Business Plan for starting your own online store Are you looking for startup ideas that can easily be initiated and run from home? Executive Summary 3. Although it may just be a single page, but if created and composed correctly, it has the power to give your business a makeover or boost in big ways.
You can jot dot down your business goals and strategies in these templates and stay focused on achieving them along the way. With the competitive analysis portion of your market analysis, you want to list your market leader and direct and indirect competitors. After you mention who these entities are, you need to list the characteristics of each one, such as domain name, business model, monthly traffic, and pricing range.
However, before you even get started in writing this section, you need to spend several hours researching your target market. Google is your best friend. Look for any recent industry reports on your market of choice.
This will give you a good sense of how much growth the industry is experiencing, why this growth is happening and what are the largest customer segments. In our example of Atlas Hiking Co.
We could use this valuable information to guide our business strategy. Go to a nearby store that sells similar products to yours and interview the store representative. The store rep has interacted with hundreds of interested customers which can lead to thousands of valuable insights! Create an excel spreadsheet of all of your competitors.
In your excel spreadsheet, you should have the following columns:. What is the competition missing? Is there a gap in the offering? Where you can add some additional value? After conducting the competitor analysis, Atlas Hiking Co. This is just an example of the types of insights one can gain from market research which can drastically alter your business model.
Some other keyword tools you can use for keyword research include Ahrefs, JungleScout , and Viral Launch. Check out this list for more ideas. Are there nearby trade shows that you can go to? Again, creating connections with other people in your industry is a sure-fire short-cut to countless hours of reading on the internet. Trade shows are also a great opportunity to talk to competitors, meet manufacturers, and better understand where things are heading in your industry.
Once you finish researching the relevant industry, you should summarize your findings by answering the following questions:. So we know we want to sell hiking shirts, but how do your research specific products? To succeed in online retail, you need a product that is trending upwards in a growing niche.
Come up with detailed specifications for each product or service you intend to sell. What are other products that you have in the pipeline? Include that information in this section. Each product group will have its own purpose in your sales catalog. For example, tripwire is the product that brings customers to your ecommerce store or online marketplaces while the core product is your main seller.
And how much can you afford to spend on your product? Marketing is everything. In order to come up with a marketing strategy, you need to first know your customer inside out.
You should be able to answer such questions as:. Once we know pretty much everything there is to know about our target customer, we can shift focus to our marketing strategy. You want to choose marketing strategies that equal positive conversion rates.
What channels should you use to grab the attention of your customer demographic? Some of the key marketing channels include:.
For example, a SaaS product targeting millennials will require an entirely different marketing strategy than an e-commerce physical product targeting baby boomers. Perhaps that should be a post on its own for another day!
In essence, this is a formula that helps you better understand how much an average customer will spend over time. Think about your business model and then line up your marketing budget.
Your marketing budget may include the following items:. Come up with a detailed list of the different products and services you need to run your business as well as the monthly and per-transaction cost of each of them. This will be important in understanding the impact of these services to your margins.
Matching your business model to your technology is essential, too. Certain website platforms are better suited for specific sales models. Email marketing is another type of technology that should be carefully considered and matched up correctly with your business model.
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