Ecommerce business plan for an electronics store

Ecommerce business plan for an electronics store Online business is becoming very vast slowly and steadily. There is a lot of profit in this kind of business. Like EBAY and AMAZON our company has took a step in the field of online business. The Domain name of the website is www.Theray.co.uk. The image which can be seen below is of a homepage of THE RAY website. This homage is browsed on the first paragraph. In the first part it is explained briefly that how we run our day to day business. In the second part it is described that what are the tools or equipments which we use to run our business. The third part is about all the services which we give to our online customers. Fourth part describes that how do we serve our customers. The fifth part explains about how the customers can pay safely and how do we use to provide such kind of services in better and safe environment. The sixth part includes out location of our offices. The Ray is an online business which sells products to its online customers. This is the companys website homepage. In the homepage it is easy for the customers to search or find out what they are looking for because we cover almost all brands. If, in case the product which the customer is looking for is an old model than they can click on ALL BRANDS to find the one they are looking for or they can contact us. We will try to arrange that product available to that customer if possible but, the charges for those services will be extra. Other big companies logos are visible, the reason for this is that we have products from these companies and customer can find the one they are looking for easily because nowadays everyone is looking for the latest products and the latest products which are very popular are being produced by these companies. The option of category is available to make the customers search more customized. Secondly, deals are also available; when a customer clicks on it he/she can see the deals like if you buy this game you will get 2cds free e.t.c. New arrivals option is also available; this is to make the customers feel easy to see what has arrived new. The customer can compare prices of the different products with the different specification; this will help those customers who are looking for the cheap products. Ads can be seen on the websites, we get money through the pay per click concept. At the bottom there are further details which can be seen by the customer, to browse our website more easily. There is an option of third parties on the web page on which when a customer clicks he/she finds many ads which are posted by other customers to sell their own products. The Ray charges a nominal amount on each transaction made in the section of Third Parties. Business day to day operations:- In online business some very important operations such as order taking, order processing, website management, updating, accounting or book keeping, advertising and marketing implementation, credit card authorizations, shipping, inventory management, Customer service and ordering are compulsory for our business so that we can make some new way do some of task easily such as order taking, order processing, website management, updating, credit card authorizations and inventory management for that we choose the new generation e commerce software called Boos cart its process the task that is mentioned above:- Boss Cart:- Basket Boss was an application of E-commerce shopping basket, specifically designed to meet the needs for small and medium retailers requirements.  Boss Cart was created using the latest technology and runs on Windows, Linux and all other web platforms.  Boss Cart was tested with more than 20,000 items to ensure timely and efficient as possible. The software is specially optimized for use by small and medium enterprises and friendly from the start.  It has a built-in Web 2.0 functionality and drags and drop interface for quick access to products and product attributes.  Boss Cart has the ability to specify the shipping and the weight of each product, and import or export data in CSV format.  The software has a powerful search engine feature of the product and downloads an image wider product range, seven additional images per product all purchases are automatically confirmed by e-mail late. The software Boss Cart provides wide range of options and features that are important.  Boss Cart is designed to work with the most popular markets such as eBay and Google Base, and it also set up a PayPal payment of treatment may be most of our online store.  Below is a picture of how Boss Cart Premium is working with these systems Benefits of using this software:- * Quick and easy to implement. Store Manager * Powerful, handles over 10,000 products. * Create your store look and feel or use one of our predefined templates. * Integration of our online store with a payment gateway of our choice. * Host our store with the web hosting company of our choice. * From marketing and merchandising functions, including social networking / marketing plug-in. * Bulk uploads to populate our products Easy Store. * Export products to Google Base. * Process orders online or offline. * Calculates postage, VAT and other taxes. * The product can be inclusive or exclusive of VAT. * Stock level control function. * Alerts low stock.Print invoices, packing slips and address labels * Extensive sales statistics to know what products sell well and which not. * Backup and restore function Customer service -: Our speciality in day to day operation, Our web site decided to give high quality customer service, for that there is an option through that our customers clarify their question, product information, buying suggestion, doubts about our product or the payment system and where Ever they want. It works 24 hours per day. http://www.velnetweb.co.uk/blogs/category/velnetweb/ Equipments we use to run our business:- Every company needs some equipment to run their business and The Ray company also use some equipments such as-credit card payment processing equipment and software ,desktop computer, desk and desk chair, postage machine and postage scale, shipping supplies, telephone and also use toll free telephone number which is really helpful to the customers and suppliers to stay in touch properly. The ray company also use finance software which is really helpful to print the invoice of the customers. Supplier sell products most competitive prices and the ray company buy their products from a supplier. Now this company try to buy their products from china and India because in china and Indian supplier can give good quality products in cheap price. The menu of products or services that we provide:- There are many products and services that we provide to our online customers. The ray is an online business that sells products online. In this business we sell Mobile phones, Personnel computers and accessories. Beside all these things we work as a middle person as well. In our website an option of third parties can be found. When a customer clicks on there than he/she enters into a new homepage in which the customer can find different types of advertisements posted by the other customer with the contact details. That advertisement contains the full contact information of the customer so that the person, who is interested in that particular product, can contact the owner. On every successful transaction which is made in the section of third parties, are charged a nominal fee. There is an option for all those customers who want to buy old models of electronic items. If the customer did not find that particular product even after trying the advanced search and buy searching the option of all brands, than they can contact us and request that particular product. They only need to fill up a simple request form, the image of that form can be seen below. If we have that particular product listed in our website than we will not charge the customer for our services, and if in case we dont have that product than we will search that product for the customer and sell it to him. There are some charges on this services and that depends on the type of product. Service Request Form Please complete the following form and à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..representative will contact you to schedule your appointment at a time and place that are convenient to you. Keep in mind, we come to you! If you need immediate assistance please call 07404181844 Top of Form name Address City County Postcode Email Address Primary Telephone Alternate Telephone How Did You Hear About Nerd Force Equipment Information Brief Equipment Information Operating System Internet Access Network Problem Description Our potential customers and delivery service :- The important thing is companys delivery, for this the ray company use lots of method of delivery. Basically they use their own delivery van in the city and for those customers who are out of the city or country they use DHL and FedEx mail service and this kind of service helps the customers to get their products within short time. Transactions:- In e-commerce, both buyers and sellers have the same concerns they have always had, customers need a reliable way to pay money securely without worrying that their credit card information might be stolen the seller needs to know that the customer isnt using a stolen credit card. Luckily, online payments are safer than ever and more options exist than ever before. To get paid promptly and reliably have to go through some extra steps to make the customer feel secure- not to mention protecting yourself, too successful e commerce is about setting up the right atmosphere for making purchases, providing options for payment, and keeping sensitive information private. Its also about making sure that the goods get to the customer safety and on time. We are giving customers to ability to provide payment online. Our goal is accomplish the following:- Giving the customer options:- Online shoppers like to feel that they have some degree of control give them a choice of payments alternatives: credit card, debit card are the main ones. Some also like a choice of online payment services they want to see that you accept Google checkout as well as PayPal for instance. Keep payment secure :- Pay an extra fee to your webhost to have your customer submit their credit card numbers or other personal information to a secure server- a server that uses secure sockets layer encryption to render it unreadable if stolen. Make payment convenient:- Shoppers on the web are in a hurry. We give them the web page forms and the phone numbers they need do that they can complete a purchases in a matter of seconds. Online Merchant Accounts:- A merchant account is an account maintained by a bank or processor to receive and process orders online with a credit card.  Indeed, money from your online sales are deposited into your merchant account.  Not all banks have the capacity to handle all types of credit in all currencies.Therefore, it is not unusual for a merchant who, for example, wants to transform the Visa and MasterCard both U.S. and Canadian fund orders merchant accounts no more than one financial institution to  work-related. Payment options:- One of the most important aspects of running the online business is being able to collect payments from our customers. In the physical world, that amount to having functional cash register with an attached credit or debit card processing terminal. In the online business world, this is even more important. According to Cisco Internet Business Solutions (IBSG) Primary Research about Expected Change in Payment Mechanism Usage for Online Purchases over Next Two Years the Alternate payment providers, such as PayPal, have grown dramatically during this current wave. Thirty-five percent of all respondents cite frequent or very frequent use of alternate payment providers in online payments, and consumers indicate expectations of more frequent usage in the future. http://www.cisco.com/web/strategy/docs/finance/ConnectedPaymentsExecSummary_092208.pdf In over online business we are provided alternative payment methods shows as below Payment and processing the orders:- When someone submits making a order and giving card information to us, we need to transfer the information to the banking system. To submit credit card information to our bank, we need point of sale (POS) hardware or software. The hardware, which we either purchase or lease from our bank, is a terminal. (a gray box of the sort can see at many local retailers) The software is a program that contacts the bank through the modem. The terminal or software is programmed to authorize the sale and transmit the data to the bank, the bank then credit our business checking account. Then bank also deduct the discount rate from our account weekly, monthly, or with each transaction. Our location:- Office address:   184 Sudbury heights avenue, London, ub60ll     Opening Hours:   10:30 AM   6:00 PM  Monday to Sunday ex. Friday and Tuesday   Ã‚  Ã‚   You can bring in your laptops, just pop in during opening hours, No appointment needed Contact us:  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Tel: 02087822185  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Mobile 07404181844 Email à ¢Ã¢â€š ¬Ã‚ ¦ Fax: 02087822185  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚     Ã‚   More information of our business:- Out of the above services our business will take some kind of customer services and for the sake of our business we will take some promotional activities that would be auspicious for both for our business and our potential customers. As we will enter in the competition in the market our target is to survive in the market long run by satisfying our customers. Business model: As a new business we want to be unique in this field. Our business model will be unique as well. There is a lot of business model s prevailing in this kind of business. Each of these strategies will be dealt with in the context of providing advice for business wishing to maximise their cyber potential (Lawrence, 2000). The following business models are widely used in e -commerce business. Poster/ billboard models Online yellow model Cyber brochure Virtual Storefront Subscription model Advertising model 3.5.7 model Auction/ Reserve auction model Affiliation model and Portal model Strategy of implementation: Implementation of strategy is the challenge for all kind of business whether it is e -business or any other business. The size of the business will restrict will restrict the number of personnel involved in business but the discipline can be adapted for any business wishing to establish an electronic presence. To implement the model in the business there are some certain steps we will have to follow. Planning Controlling Monitoring Adjusting Organizing Managing quality etc. Customer service: For every business customer service is necessary. Like all other companies we also consider customer service as essential part of our business. We want to different in case of our customer service. It will include after services. Our expectation is to get feedback from our customer through online. They can inform their satisfactions or complain through online to our company. We will also provide repairing service to our customer. Creative promotional activities: Promotional activities are an important part of all business. Our promotional activities will have creativity that will differentiate our company from any other company. In our as the part of our promotional activity we will try to inform the people about the importance of technology, the good usage of technology, and we will try to inform people about the consequence of deforestation, pollution, illiteracy etc. It means our promotional activities will be a social promotional activity. Besides, as a normal promotional activities we will inform people by sending e-mail, advertise in some popular social network like face book, twitter etc. Building an internet commerce community: For all kind of business building an internet commerce community is helpful in ensuring the internet business. As it is important for business maximum usage of all business we will give focus on it. To build an international relationship we will also use technology. If we were an internet commerce community we would have the following objects. Internet banking: Now day internet banking is very popular as a medium of transaction. So as a medium of transaction we will operate our business transaction through internet banking. Our potential client will be able to get service through internet banking. For the interest of the security of our client it will be the best medium of transaction for those customers who will buy our product through online. Service selling site: Originally it seemed that cyber shopping mall would be the most effective way to get noted on the web. Large departmental stores have joined malls they have set their own sites. (Lawrence 2000). All retail shop have succeeded have thrived turning their customer into a community. For example Bookshop amazon.com encourages community felling by getting people to write reviews of books they have read, by encouraging the buyer to interact with the authors via e mail and by getting register with eyes, as a service that that notifies customers of new books that are likely to interest them. (Lawrence 2000). As like that our business will have such kind of effort to encourage our customer and getting their feedback through online. Online publishing: Online publishing is an exciting area of internet commerce. By online we will inform our customer about our new product, product on sale etc.