Group Buying Website Start Up Plan
Business Start-Up PID
S1 2013 BFP3001
Title: Group Buying Website Start Up Plan
Team Skilful SIX
Executive Summary
The Project Initiation Document is aimed at providing a comprehensive document that how the Group Buying Company which named Together Buy will be established and this document would also present the basic information of this company with highly standard such as the market analysis, the financial analysis, the risk analysis etc.
This company would adopt the process as follows. To execute this project after all the regulations, the company first contact with the manufacturers to provide goods. At the same time, we provide a trading platform between international students and the manufacturers. Besides, the company would make profit by setting the price lower than the market price but higher than the initial costs. After the customers paying successful, we will contact the manufacturers to deliver goods to customers. When completing the purchase period, we will transfer money to manufacturers. This process will not only increase the popularity of those companies but also give the international students a chance to access the products which are currently unavailable in Australia. Finally, we would make profits from our operation.
To measure whether the project is viable, it is showed a range of analysis in this document. In market analysis, it shows that, based on the research, numbers of Asian overseas students coming into Australia which means the potential market is large and existed. Besides, the company would adopt different kinds of promotion strategies to attract customers and achieve sales and marketing objectives. In financial analysis, each shareholder donates $20,000 into the business and the company borrowed $50,000 from Commonwealth Bank with 5.89% interest rate during the first three years. Based on some financial assumptions, the company would finally make a profit of $221,394.88 during the first three years. In the risk
S1 2013 BFP3001
Title: Group Buying Website Start Up Plan
Team Skilful SIX
Executive Summary
The Project Initiation Document is aimed at providing a comprehensive document that how the Group Buying Company which named Together Buy will be established and this document would also present the basic information of this company with highly standard such as the market analysis, the financial analysis, the risk analysis etc.
This company would adopt the process as follows. To execute this project after all the regulations, the company first contact with the manufacturers to provide goods. At the same time, we provide a trading platform between international students and the manufacturers. Besides, the company would make profit by setting the price lower than the market price but higher than the initial costs. After the customers paying successful, we will contact the manufacturers to deliver goods to customers. When completing the purchase period, we will transfer money to manufacturers. This process will not only increase the popularity of those companies but also give the international students a chance to access the products which are currently unavailable in Australia. Finally, we would make profits from our operation.
To measure whether the project is viable, it is showed a range of analysis in this document. In market analysis, it shows that, based on the research, numbers of Asian overseas students coming into Australia which means the potential market is large and existed. Besides, the company would adopt different kinds of promotion strategies to attract customers and achieve sales and marketing objectives. In financial analysis, each shareholder donates $20,000 into the business and the company borrowed $50,000 from Commonwealth Bank with 5.89% interest rate during the first three years. Based on some financial assumptions, the company would finally make a profit of $221,394.88 during the first three years. In the risk
References: Realcommercial, 2013, Office for lease, Realcommercial, viewed on 15th May 2013, <http:/ http://www.realcommercial.com.au/property-offices-vic-preston-500736531>