Introduction – Business Plan Template
In the first year courses, the knowledge I attained is all about business perspective where it helps me to now about principles of business, organizational behavior, how to start a business, what are the requirement of starting a business, different business types, Business Plan Template and some related concept related to business like finance, accounting and marketing.
This simulation process was basically a learning process for me by which it will help to write a business plan from the aspect of considering a virtual company.
Business plan for a virtual company
Now days, E-commerce based business are considered as the virtual company regarding the aspect from Business Plan Template. There are so many e-commerce based business established. So, my plan is to develop a virtual business platform in this online area regarding selling home appliances like Air condition of different recognized brands, Bed side lamp, Fan (ceiling fan or wall fan), computer, digital camera, washing machine, dis washer, room heater, Humidifier, Microwave oven, Television, Telephone, Refrigerator, sewing machine, vacuum cleaner and so on.
Prime function of the business
The prime function of the business is to selling home appliances by using virtual market where customer will order the product from website and then our team will be delivering the product with quality service.
The vision for this E-commerce based business of Home appliances is to lead the market in the market of home appliances with 50 thousand existing user of this service from our platform and it will be achieved within 03 years. Our business will provide services globally to attract local customer as well international customer. In 03 years of time, our E-commerce based business of Home appliances will be the first choice for families (Chawla, 2015).
- The mission of E-commerce based business of Home appliances is to provide the quality products for families.
- Our business will be committed to provide services on time delivery and our product will be easily available from our ready stock.
- E-commerce based business of Home appliances will receive order from any corner of the world.
- Our business will play a leading role in this digital marketing arena (Chawla, 2015).
The set of financial goals are very important because it is the ultimate resource for running the business successfully and profit generation as well as profit maximization is the core goal of a business. As per our business plan, E-commerce based business of Home appliances must have the following financial goals as follows:
- Our prime goal will be generating a steady income for the next 03 years.
- There will be no huge fluctuation to month income generation.
- Sales of the Home appliances items will be increased by 50% in next 03 years.
- At the end of the year, profit margin will be in the position of satisfactory level at minimum profit 20 lac at the end of third year (Chawla, 2015).
The set of social goals is also equivalently essential for business because society always prefer that the business will think about the society and they will contribute for the society. The creation of good relationship as well as build up good relationship with the customer is the goal of business from social perspective. As per our business plan, E-commerce based business of Home appliances must have the following social goals as follows:
- Our business will develop a friendly relation with our existing as well as potential customers.
- Our business will build a good as well as close relation with our existing as well as potential customers.
- Our business will increase customer loyalty at least 50% within 03 years.
- Our business will increase and gain the customer trust in this digital business where there will be no option of fraudulency in delivering product (Chawla, 2015).
- Our business will set the standard of reputation in the business of E-commerce based business of Home appliances where customer can rely on us before processing an order.
- Our business will set the standard of ethical business practice where we will be able to provide ethical services with our product quality, product design, product delivery etc. and we will not will not fail to impress our customer.
Purpose and Objectives of the Business
There are so many things to consider that E-commerce based business of Home appliances will do to fulfill the goals of financial goals and social goals. As per our business plan, E-commerce based business of Home appliances must have the following social goals as follows:
- The purpose of this business to deliver quality product with all recognized brand.
- The product or service will be delivered within given time from customer.
- Customer satisfaction is the main purpose by which we can create loyal customer.
- The core objectives of this E-commerce based business of Home appliances is to achieve customer satisfaction.
- Keeping all the records of expenses regarding buying all the home appliances as the cost could be controlled.
- Monitoring the delivery system of the product to gain customer faith and trust as the customer will be able to receive the genuine product for which he or she actually paid.
- Expanding new items in the list of home appliances to attract new customer (Chawla, 2015).
Organization and Management
E-commerce based business of Home appliances will have 10 member who will operate the business for next 03 years.
- Team Leader (01 person)
- Monitoring Officer (02 person)
- Supply Chain Officer (02 person)
- Accounts officer (01 person)
- Marketing Officer (01 Person)
- Delivery Man (03 Person)
Our full marketing policy will be based on digital marketing because E-commerce based business of Home appliances will be attracting its customer of internet users.
- Website of Home Appliances
- Facebook marketing
- YouTube Marketing (Chawla, 2015)
- Our projected financial plan is to keep the income stable in each and every month.
- Minimizing as well as monitoring cost of supplying material and cost of delivering of goods.
- Within 03 years, our business will generate 50% growth in sales and profit growth will be 25% (Chawla, 2015).
This business plan is just the summary of plan modulation of E-commerce based business of Home appliances. The thing is that the goals should be achieved to make the business successful.
Chawla, K. (2015). BUSINESS PLANNING ESSENTIALS: PREPARING A BUSINESS PLAN. Journal of Advances in Business Management, 1(3), pp.93-99.
Kirsch, D. (2007). Business Plan Archive: Presentation. SSRN Electronic Journal.
Tusin, J. (2006). Book Review: Writing and Presenting a Business Plan. Business Communication Quarterly, 69(2), pp.226-229.
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