E-Commerce Business Plan Template
Are you interested in starting your own E-Commerce Business?
Introduction
E-commerce, also known as electronic commerce, is the process of buying and selling goods and services online. It has become increasingly popular over the years, as more and more people are using the internet to purchase items. Starting an e-commerce business can be a great way to make money, but it can also be a bit daunting. There are a few things you need to keep in mind before you get started, such as what products you’re going to sell and how you’re going to reach your customers. If you’re interested in starting an e-commerce business, read on for some tips on how to get started.
1. Choose a niche One of the first things you need to do when starting an e-commerce business is to choose a niche. This is the market that you’re going to focus on and it’s important to choose something that you’re passionate about. Think about what kinds of products you’d like to sell and who your target market is. Once you have a good understanding of your niche, you can start to research your competition and see what they’re doing well (and what they could be doing better).
2. Find a supplier Once you know what products you’d like to sell, you need to find a supplier. This is the company that will provide you with the goods that you’ll be selling on your e-commerce site. Do some research and find a reputable supplier that offers good quality products at a reasonable price. It’s also important to find a supplier that offers good customer service in case there are any issues with your order.
3. Build your website Now it’s time to start building your e-commerce website. If you’re not familiar with web design, there are plenty of tutorials and resources available online to help you build a website.
Global Market Size
There are over 7 billion people in the world and only a fraction of them have access to the internet. Of those that do, an even smaller portion engage in online shopping. When you’re starting a business, it’s important to consider the size of the global market for your product. The size of the global ecommerce market was $1.915 trillion in 2016. By 2021, it’s expected to reach $4.058 trillion. That’s a lot of potential customers! However, it’s important to remember that not all of them will be interested in your product. You need to identify your target market and focus on them. When you’re starting an ecommerce business, global market size is an important consideration. Make sure you research your target market so you can focus on the right people. With a little effort, you can reach a large portion of the global market and find success!
Target Market
There are a few key things to consider when you're choosing your target market for your ecommerce business. The first is to make sure that there is a group of people out there who are willing to buy what you're selling. It's no use trying to sell luxury goods to a group of people who are only interested in bargain prices. Second, you need to make sure that there is enough of a market to support your business. A niche market may be easier to break into, but it's also important to make sure that there are enough potential customers to keep your business going. Third, you need to consider what you can offer that other businesses in your target market can't. This is your unique selling proposition, and it's what will help you stand out from the competition. Finally, you need to make sure that you're able to reach your target market. This means having a good marketing strategy in place that will allow you to reach them through the channels that they use.
Business Model
There are a few different ways to skin the ecommerce business model cat. The first, and most common way is to find a niche market to serve. This could be done by partnering with a specific supplier, or manufacturers to produce or dropship a unique product. Once you have a product or products to sell, the next step is to create a website using an ecommerce platform like Shopify, BigCommerce, or Magento. Another way to get into ecommerce is by starting a marketplace. In this type of business model, you wouldn’t be selling any products of your own. Instead, you would be creating a platform for other sellers to sell their products. The most common examples of this are eBay and Amazon. A third way to get into ecommerce is by starting a subscription service. In this type of business model, customers would pay you on a recurring basis for access to certain products or services. The most common example of this is the Dollar Shave Club. Finally, you could start an ecommerce business that provides a service. This type of ecommerce business would provide services like grocery delivery, laundry, or manicures. The most common example of this is Postmates. So, those are four different types of ecommerce business models. Which one sounds the most appealing to you?.
Competitive Landscape
Choosing a Domain Name and Hosting Provider
Ecommerce Platform
Website Design and User Experience
Product Sourcing and Inventory Management
Payment and Security
Marketing and Advertising
Customer Service and Support
Analytics and Metrics
Conclusion
If you're thinking about starting an ecommerce business, there are a few key things you need to do to get started. First, you need to choose a niche or market to focus on. Once you've done that, you need to create a website and start driving traffic to it. Then, you need to start building relationships with potential customers and partners. Finally, you need to start selling products or services. If you follow these steps, you'll be well on your way to starting a successful ecommerce business.
Why write a business plan?
- Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
- Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
- Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
- Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
- Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the market.
- Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
- Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
- Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
- Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
- Business plans allow you to position your brand by understanding your company’s role in the marketplace.
- Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
- Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.
Business Plan Content
- Executive Summary
- Company Overview
- Industry Analysis
- Consumer Analysis
- Competitor Analysis & Advantages
- Marketing Strategies & Plan
- Plan of Action
- Management Team
The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.
The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at info@avvale.co.uk . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.
Instructions for the Business Plan Template
To complete your perfect e commerce business plan, fill out the form below and download our e commerce business plan template. The template is a word document that can be edited to include information about your e commerce business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.
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