Introduction of an e-commerce start-up with five-year projections of Cash Flow Statement, other expenses and Balance Sheet.
The start-up will be a premium e-commerce store that aims at providing premium jewelry through an E-commerce platform. It will offer a variety of precious and semi-precious gemstones originating from across the world, made into real and artificial jewelry through website and social media.Its main aim will be to use the e-commerce platform to run its business.
Discuss why? in today’s world, internet is widespread and ubiquitous, and people tend to rely more on it than they used to before. For example, if people were to check the price of a new mobile phone, their first instinct would be to search for the price online, and they might even strike a deal if the price is attractive and the seller is trustworthy. This is further supported by facts below.
Thus, the objective is to enable people in a country to be encouraged towards buying online and at the same time gain their trust by being authentic and dependable. Its business plan, how it will plan to achieve this, and a complete product portfolio will also be shared in detail throughout this report.
Is there a market need for the product? Over the years, there has been a significant increase in the trend of buying and selling through e-commerce. Out of a total of 7.593 billion population, 4.021 billion have access to internet throughout the globe. Major players doing online business include Amazon and Alibaba Group which are American and Chinese giants respectively. For the year 2017, American E-commerce revenue was US$409,208 million, whereas China brought in US$499,150.
On average both have seen an increase of almost US$100 million in revenue over a period of one year. The potential for more growth in the e-commerce industry is still prevalent and flourishing. Today, all sorts of products and services are being delivered via the internet. Thus, there is an unfilled gap between consumers and the market.
Lastly, 5-year projections of balance sheet, cash flow statement and probable expenses will be compiled through extensive market research.