Download eCommerce Business Plan with Financial Analysis
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Download this eCommerce business plan, which you can download to present to NIRSAL, BOI, BOA, and other investors.
Change is constant, and over the years this fact has been evident, even in the way businesses are conducted, especially since the advent of the internet. The coming of computers and the internet has left a mark on the way our daily activities are conducted. E-commerce is one of the greatest advents of the internet. Ecommerce has allowed entrepreneurs to own multimillion naira businesses by overcoming the geographical barrier, which has always posed as a con in the conventional way of doing business.
E-commerce simply means commerce enhance electronically, its involves connecting buyers with traders via electronic/digital means, not necessarily the internet although it centres largely on the internet. No need for an outlet and other stuff that are necessary in the conventional way of doing business, like the physical meeting of both parties and physical exchange of money. These pros make it easy for aspiring entrepreneurs when so they can easily kick start their ventures if they lack the requirements of starting their businesses conventionally, requirements like the need for a space and displaying products physically are easily erased and the budget on advertisement is mitigated, also it provides a certain degree of visibility unlike conventional businesses as anybody with an electronic device (phones and laptops) can come across your e-store.
Although, it is normal for consumers to go to conventional stores as this also has its pros which are absent n e-commerce stores, pros like vastness of options to pick from, safe transactions as the internet is crawling with scammers, and might occasionally choose to go to them, it is important to note that the advent of an online store a subset of ecommerce business model, customers no longer need to travel for shopping thus less traffic on the road and low air pollution. There are several advantages that the e-commerce business model brings to the table and they are;
- The ecommerce business model increases the reach of advertising of products and services of businesses.
- E-Commerce business model is faster and efficient
- E-Commerce stores are open 24 hours a day and 7 days a week, always available
- With e-Commerce, a customer can go through the review of a product or service before purchase.
1.0. Executive Summary
Get-It Inc. is a Nigerian based international online shopping website that offers a wide range of quality products such as electronics, computers, groceries, fashion, home appliances, and kid’s items. Our head office will be located in Lagos but we will have warehouses across Africa, situated in key cities in economically stable countries like Accra in Ghana, Nairobi in Kenya.
We are an e-commerce start-up with a long term goal of having our presence in major cities across Africa and retailing a wide range of products from manufacturing brands recognized around the world at affordable prices.
Get-It Inc. will run every day, round the clock with an effective, timely and hassle-free delivery system. Our payment platform is highly secured and we will only deal in non-Cash Payment. Our payment platform will readily accept payment from credit cards, debit cards, smart cards, electronic fund transfer via bank’s website and other modes of electronic payment.
Our plans of strategically positioning our warehouses make it easier for us to deliver products on time whenever our clients make orders.
2.0. Our Products
Get-It Inc. Online Store will ensure we go all the way to make available a wide range of goods and products from top manufacturing brands in Nigeria and other countries of the world to our customers. We will have available in our warehouses a wide range of durable goods and non–durable goods at affordable prices
We have various items from world-class brands in the following product categories:
- Beverages & Cigars
- Events & Tickets
- Home Appliances
- Mobile Phones
3.0. Our Business Structure
Shannon & Shavonne Inc. is an international online store that wants to become a global brand and compete favorably with the leading brands in the industry hence we will ensure that we put the right structure and processes in place that will enable us to build the business of our dream.
At Shannon & Shavonne, we will ensure that we hire people that are qualified, honest, customer-centric, and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer / President
- Human Resources and Admin Manager
- Warehouse Manager
- Merchandise Manager
- Business Developer
- Transport and Logistic Manager
- Information Technologist
- Call Center Agent
4.0. SWOT Analysis
Starting an online store comes with some challenges, especially when it comes to managing the payment portal, shipping goods to various locations, and ensuring that goods are sold cheaper than is obtainable in physical stores. Consulting a business analyst helped us get our SWOT analysis right, and they are as follows;
We have a well-coordinated shipping system and our customers can be rest assured that they will have their goods delivered to them in record time. Likewise in other aspects like secured payment platforms, a vast range of products, and excellent customer service culture.
A major weakness that may count against us is the fact that we are a new online retail store and we don’t have the financial capacity to compete with prominent online stores like Jumia. This is when it comes to wider reach and selling products at rock bottom prices as they have been in the market before us.
The opportunities available to online retail stores are unlimited; as a matter of fact, customers can make purchases from any part of the world. We will ensure that we position our warehouses in targeted countries so as to enable us to cut cost of shipping and maximize the opportunity that is available to us.
Just like any other business, one of the major threats that we are likely going to face as an online retailing store is an economic downturn. It is a fact that the economic downturn affects purchasing power. Another threat that may likely confront us are policies set by the government that are unfavorable.
5.0. MARKET ANALYSIS
One of the best things to happen to the business world is the introduction of the internet. The internet has given room for less stress and cumbersomeness while doing business. Online retail stores are in the forefront when it comes to retailing goods; it is now very much easier to cover a wide range of customers from all over the world via e-commerce business model.
Despite the fact that there are several online stores, the market is still pretty much open. The fact that two different online stores operate from the same street does not in any way affect their sales. The market available to them is the world as there is no limit to who your customers can be, especially if they are open to customers from different part of the world.
Our Target Market
Get-It Inc. is an online store based in Nigeria that offers a wide range of quality products such as electronics, computers, groceries, fashion, home appliances, and kid’s items to a wide range of customers. We are in business to retail a wide range of products to the following groups of people from our store;
- Corporate Executives
- Business People
- Expectant Mothers
- Sports Men and Women
How To Download Ecommerce Business Plan Template
Above is a part of the ecommerce business plan template in Nigeria. If you want the complete e-commerce business plan with the full financial plan, calculations, and more, follow the procedures to download it.
Pay the sum of N5000 (Five thousand naira only) to the account detail below:
Name: Oyewole Abidemi (I am putting my name and not our company account so you know we are real people and you can trust us)
Thereafter, send us your email address through text message to +234 701 754 2853. The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the ecommerce business plan template in Nigeria to your email address where you can easily download it.